Doomsday predictions are not uncommon, but Harry Dent of the HS Dent Investment Management firm believes that 2024 could be the year when the over-inflated United States markets finally collapse.
During an appearance on Fox Business, Dent discussed his 2024 predictions, suggesting that the extensive money printing that has occurred since 2009 will have unprecedented consequences.
Dent stated, “Since 2009, this has been 100 percent artificial, unprecedented money printing and deficits: $27 trillion over 15 years, to be exact. This is off the charts, 100 percent artificial, which means we’re in a dangerous state.”
He predicts that 2024 could witness the most significant crash in our lifetime, emphasizing the need to return to normalcy and send a message to central banks. He believes that we may never see such a bubble again in our lifetime.
The current bubble gained momentum in late 2021 as the COVID-19 pandemic was subsiding. Dent anticipates that when this bubble bursts, it may surpass the Great Depression in scale.
Dent explained, “Things are not going to come back to normal in a few years. We may never see these levels again. And this crash is not going to be a correction. It’s going to be more in the ’29 to ’32 level.”
By May of the following year, Dent predicts that the public will clearly see that something is amiss. He advises people to exit the markets and wait, as the impending crash will likely be more severe than a typical correction.
Dent stated, “If I’m right, it is going to be the biggest crash of our lifetime, most of it happening in 2024.”
He recommends that investors exit for six to 12 months and prepare for a significant market correction. If his predictions hold true, this strategy could prevent substantial losses and provide opportunities to reinvest at lower prices.
Harry Dent previously wrote a book in 2009 titled “The Great Depression Ahead,” which forecasted a major market crash, similar to what he now anticipates in 2024. Other analysts, such as John Hussman of Hussman Investment Trust, have made similar predictions, including a significant market loss over the next decade.
Goldman Sachs, on the other hand, predicts new all-time highs for the markets in the coming year, projecting an eight percent increase in the S&P 500 to reach 5,100 in 2024.
