US Economist - "Everything Bubble' Will Burst in 2024, Everything will Crash

originally posted by: dothedew

originally posted by: mechtech87
Good,

Many in my generation are hoping this will happen. The generation worried about retirement are the same ones that gave us massive debt and a broken economy and government. We say #em because anyone 40 and younger is #ed and will never be able to retire. So let the older people go into debt and we'll tell them they should have worked harder...

originally posted by: FlyersFan
This is just ONE economist, but his prediction is interesting. According to him, we are in a bubble for everything .. market, banks, real estate, etc. And he says that 'everything bubble' is going to burst in 2024. An everything crash. This guy is actually hoping for it so everything goes back to what he thinks is 'normal'. Everyone with a 401K probably would be hoping for just the opposite. A lot of retirement age people are counting on their 401Ks to survive retirement.

US Economist Predicts 2024 Will Bring Biggest Single Crash of Lifetime

Since 2009, this has been 100% artificial, unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. This is off the charts, 100% artificial, which means we're in a dangerous state," Harry Dent told Fox News Digital. "I think 2024 is going to be the biggest single crash year we'll see in our lifetimes."

"I'm the guy that's praying for a crash while everybody else is not. We need to get back down to normal, and we need to send a message to central banks," he continued. "This should be a lesson I don't think we'll ever revisit. I don't think we'll ever see a bubble for any of our lifetimes again."

Dent, who spent the majority of his career analyzing proprietary research, credited his against-the-grain prediction to overvalued markets and excessive stimulus spending. While recent rallies have overwhelmingly provided investors with mild recession expectations, Dent remained firm that an "everything bubble" will burst next year.

Somewhat related - ATS Thread - Real Estate Investor Warns US Is Entering Greatest Correction of His Lifetime

lol

Isn't it great?

"Work harder, it's your fault with your toast, get a better job, you have it easy, quit being a sissy, go to school, get an education, save money, YOU"RE DOING IT WRONG, etc." and then it's pity party time when the threat of lost investments come up.

I'm sorry to this community as a whole, but I just can't get over the double standard.

I know I've gone on some belligerent tangents today, but there's a reason. Am I overreacting and oversimplifying? Yes. Is it still worth me yelling at the sky? Also yes.

Look at it this way - what is the current state of - literally everything - other than a bad return on investment? And this isn't something that popped up magically within the last few years or decade or two, this has been brewing for a vvveeerrryyy long time.

And what is your solution, or do you just whine and blame others for your current situation? What is it that you do to make things better?

a reply to: TheLieWeLive

I would never bet my life savings on any asset that could vanish like a fart in the wind.

a reply to: firstofAkhet

Take a one year chart of the DOW30. Use [1] day as the frequency. Then plot three [3] lines:

Moving average [16] day Make the liine Gold
Moving average [50] day Make the line Green
Moving average [200] day Make the line Red

Then add MACD

All can be done for free on Yahoo Finance. Based on the above after buying and selling sticks for several decades this graph seems to represent as to what is actually ongoing despite all the chatter out there. The DOWW30 is in a Golden Cross and seem sto be headimg higher.

At this point in history the New World Order wont let USA collapse as Russia aint a player. Nor is Iran. China? Trust them?

a reply to: 38181

YUP!

a reply to: IndieA

I am aware of the clock. I am also aware of all those clowns pitching financial collapse and yet the debt is an issue. I am also aware that deny ignorance isnt realy the mantra here. IMO the USA will tap into the taxes from the following to pare back the natioanal debt.

Baby boomers and the silent generation will bequest a total of $84.4 trillion in assets through to 2045, with $72.6 trillion going directly to heirs. The transfer of wealth from baby boomers will account for $53 trillion or 63% of all transfers, while the Silent Generation will hand down $15.8 trillion.

a reply to: network dude

You are wrong. After Covid, I have invested heavily in toilet paper. So I did in fact plan for sh!t quite well. Don't be a hater.

So did I as I was one of those with foresight to buy up toilet paper in April 2020. I went to Sams to get the jumbo Scotts 48 pack or greater. I still have three jumbos in the closet and will maintain my inventory.

Actually I paid sixty cents a roll. Cant touch that price in 2023!

Were also moving to a larger lot on the lake so we can plant crops and irrigate. Its 17 miles further from a major city and all have guns on the block for protection.

We too

originally posted by: Cvastar
a reply to: FlyersFan

Harry Dent has been predicting the crash of everything for the last 20 years.

Any source for that?

originally posted by: dothedew

originally posted by: FlyersFan

originally posted by: dothedew
This would truly be a dream come true.

A market crash would destroy everyones 401Ks and a lot of elderly people will be dirt poor and in need of government assistance.

That would be a massive, very ironic, learning lesson.

In my experience, a lot of the people with 401k's are the one's telling us that those plans are for investment and return, NOT for retirement.

Here's a more depressing, realistic, judgmental, and karmic statement about it though - many of those elderly people were the ones that drove this country and it's economy into the ground over the last 50 years and ruined it for everyone else.

I know a bunch of people that would not feel bad. At all.

So please enlighten me on what my 73 year old widowed mother did that she deserves some kind of karmic statement when the hundred grand she saved in a 401k was wiped out and she has nothing..

a reply to: FlyersFan

I've never seen him get anything correct. Except sell doom porn books. LOL

originally posted by: FlyersFan

to survive retirement.

That’s what you call an oxymoron.

a reply to: McGinty

Well, you know.......that's a good question; I was working off memory but yea, my memory isn't altogether faulty.
en.wikipedia.org...

His 2011 book goes on to suggest consumer spending will begin to plummet in 2012 with the Dow bottoming out somewhere between 3,000 and 5,600 in 2014. After hitting bottom, stocks will experience a mini-rally in 2015–2017 before falling into a final bottom during the 2019–2023 period, when the 45–50 age group troughs because the U.S. birth rate reached its own low in 1973.[6]
In 2012 the "Dent Tactical Advantage ETF," symbol DENT, was de-listed having consistently under-performed the market for three years.[7]
In 2013, Dent predicted the market would crash again in the Summer of 2013 and would take a further year and a half to recover.[8]
In 2014, while promoting his book The Demographic Cliff in Australia, he predicted a major Australian housing market correction beginning in 2014 after an even bigger one in China.[9] He also predicted that the price of gold would fall to USD$700 an ounce, later revising this prediction to 2017.[10]
On December 10, 2016, Dent predicted that the Dow Jones Industrial average could fall 17,000 points as a result of Donald Trump's election win. Less than two weeks later, Dent reversed his opinion and thinks there is short term growth for the US stock market, but demographic forces will keep the economic growth stagnant in the longer term.[11]
Criticism
According to Gene Epstein of Barron's Magazine, "Harry S. Dent Jr. knows how to sell books. But whether his stock-market strategies make sense—or money for investors—is another question."[12]
Jeffrey M. Laderman suggests in a Bloomberg Businessweek article that, "Harry's explanation of the stock market is a simple one that resonates with investors"..."But is it too simple to explain something as complex as the stock market and the economy?"[13]
Larry Swedroe, writing for CBS Money Watch asks, "Why do people listen to Harry Dent in light of his obvious inability to accurately predict the future?"[14]
Marketwatch Columnist Chuck Jaffe opines that, tell "people what they want to hear, and they will flock to your door."[15]

Then I found this:
seekingalpha.com... LYi3v0gEWqw2SlgWEXBPjZHp23P1hoCLrYQAvD_BwE&internal_promotion=true&utm_campaign=20702154181&utm_medium=cpc&utm_source=google&utm_term=156477543482%5Ed sa-1485125208378%5E%5E682998008781%5E%5E%5Eg

Now that's an interesting article from 2012.

With a perfect storm brewing on the horizon, investors should be building their cash cache and running for cover, warns Harry Dent, author of The Great Crash Ahead. In this exclusive interview, which originally appeared on The Gold Report, Dent explains how central bank stimulus programs are fighting a futile battle because a huge army of aging baby boomers has reached the stage in their economic lifecycles when they curb spending. How is Dent preparing for the gathering storm?

"The Great Crash Ahead" reprise for 2024.

a reply to: Cvastar

Thanks, that was an entertaining read! He’d certainly be fun character Scorsese to base an ‘anti-wolf of wall street’ movie upon if you will.

But maybe his stopped clock doomporn has coincidently arrived at the correct time. While I’m not sure everything g will pop - those selling arms and reconstructing destroyed cities will continue to boom - I do think much of that second quote rings true. I’m not in the US, so can’t speak for it, but the U.K. and EU are looking bad. Decade of QE followed by perfect storm of black swans has guaranteed recession, perhaps even depression. That’s going to burst a lot of bubbles

a reply to: FlyersFan

I read a comment wondering what event will occur to counter the release of the Epstein island clients. Maybe alien disclosure, maybe Hunter/Biden dirt, maybe economic collapse. Or they'll go with a staged terrorist attack plot.

a reply to: FlyersFan

Here you go. This is the routine type of sheep that is launched by the stock hucksters

BREAKING NEWS: Putin Drops “Financial Nuclear Bomb” on America 📰 December/10/2023


Putins Revenge on America

In retaliation for our support for Ukraine…

Russia and China just detonated a “financial nuclear bomb” that could wipe out millions of unprepared Americans.

So invest in E merika!!!!!!!!!!!!!!!!!!!!!!!!! BUY MORE TOILET PAPER

a reply to: FlyersFan

Heres a stock newsetter that I subscribe to. Hes a billionaire. Does ATS even have one?

Three of the world’s influential central banks acted relatively in sync this week – and investors cheered!

First up was the Federal Reserve. Now, Wall Street anticipated that the Fed would stand pat this month, keeping key interest rates between 5.25% and 5.5%. It was the third-straight Federal Open Market Committee (FOMC) meeting where members left rates unchanged, and it was a unanimous decision this month.

But what really excited investors wasn’t the key interest rate decision; it was Fed Chair Jerome Powell’s comments and the Fed’s “dot plot.” Both implied the Fed’s tightening phase is officially over and that rate cuts are forthcoming.

In fact, Powell stated during the press conference, “It’s not likely we will hike again.” This alone was exciting, but even more exciting is the fact that the “dot plot” signaled that the Fed would cut key interest rates three times in 2024. The “dot plot” showed rates slipping to 4.6% next year, which implies three 0.25% rate cuts.

I should also add that there wasn’t a single Fed official projecting rate hikes in 2024, and 17 Fed officials (out of 19) expect rate cuts next year. The first rate cut is now expected as early as March. Personally, I wouldn’t be surprised if the Fed cuts rates more than three times in 2024, as it still remains well above market rates – and the Fed never fights the tape.

Next, the Bank of England (BOE) followed in the Fed’s footsteps and left its key interest rate unchanged at 5.25%, a 15-year high. Unlike the Fed, the BOE was split on the decision, with some members still voting to raise rates further due to still-too-high inflation. However, inflation dropped below 5% in October, and that pushed the majority of members to vote to keep rates steady.

The U.K. continues to struggle with not just high inflation but also weak economic growth. As a result, the BOE did not signal that any rate cuts would be forthcoming in the near future.

Then, the European Central Bank (ECB) also stood pat, leaving its policy unchanged for the second straight month. The ECB’s key interest rate remains at a record high of 4%. The fact is that inflation has dropped dramatically in the Eurozone, falling from 10.6% in October 2022 to 2.4% in November. Like the Fed, the ECB has a 2% inflation target, so inflationary pressures have finally moderated to a more comfortable level.

What about rate cuts? Well, the ECB isn’t ready to broadcast when rate cuts may be coming. ECB President Christine Lagarde stated that the central bank remains “data dependent” and would keep policy restrictive as long as necessary.

The overall central bank action this week was incredibly positive and ignited a stunning market surge mid-week. All of the broader indices ended the week nicely higher, with the S&P 500, Dow and NASDAQ up 2.5%, 2.8% and 2.5%, respectively. Our Growth Investor stocks also had an incredible week. Our High-Growth Investments Buy List rallied 4.6% higher, while our Elite Dividend Payers Buy List rose 3.7%.

So, as we head into the final weeks of 2023, we have a lot of positive momentum at our backs. We may see the market consolidate these gains in the upcoming days, but the stock market tends to even out the closer we get to Christmas. That means the week between Christmas and New Year’s is still the best time to buy and position your portfolios for the New Year.

originally posted by: dothedew

originally posted by: FlyersFan

originally posted by: dothedew
This would truly be a dream come true.

A market crash would destroy everyones 401Ks and a lot of elderly people will be dirt poor and in need of government assistance.

That would be a massive, very ironic, learning lesson.

In my experience, a lot of the people with 401k's are the one's telling us that those plans are for investment and return, NOT for retirement.

Here's a more depressing, realistic, judgmental, and karmic statement about it though - many of those elderly people were the ones that drove this country and it's economy into the ground over the last 50 years and ruined it for everyone else.

I know a bunch of people that would not feel bad. At all.

I 100% agree, maybe they’ll keel over and die quicker because of it. They have screwed us the younger and middle aged for generations and they’re time should be up.

a reply to: gordanramsme

Yeah right. Another one that loves his parents and grandparents. Probably while living with them at the moment.

I did a google search. "Great Depression" got this.
"1929–1941. The longest and deepest downturn in the history of the United States and the modern industrial economy lasted more than a decade, beginning in 1929 and ending during World War II in 1941. “Regarding the Great Depression, … we did it. We're very sorry." ?

Never forget that the FED took peoples Gold.

I think they will let Trump get elected first.

so he goes down in history as the president that is to blame for the Great Depression.

a reply to: McGinty

I have friends in the UK. I worry for them. And yea, eventually the days of endless funny money are sure to eventually end.

a reply to: DoubleDNH

It sounds like the poster is angry.

Angry with their parents, angry with everyone.

And angry that they don’t have or are losing things they had no part in building or contributing to.

Taking it out on others. Very classy.