In a recent Fox News interview, prominent economist Harry Dent made a gloomy projection for the world economy, predicting that 2024 will be the year of the most significant financial crisis in living memory. Dent’s study offers a bleak picture of the near future, citing a combination of inflated markets, excessive stimulus spending, and artificial inflation of asset prices.

In 2024, Harry Dent predicts severe financial turmoil.

According to Harry Dent, a market analyst noted for his unusual yet accurate market analyses, the current economic scenario is “100% artificial,” driven by historic levels of money creation and deficit expenditure totaling $27 trillion over 15 years.

Unlike previous market bubbles, which were often confined to specific asset classes, Dent believes this bubble spans practically all asset classes, potentially making its bust even more severe. According to Dent’s research, the real estate and stock markets are prominent examples of this overvaluation.

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 Harry Dent went on to say:

They will have the greatest shock to reality. Then comes the millennial boom, which will not last as long as the baby boom but will last until 2037 before slowing down again. That boom will be less about the wealthiest getting richer and more about the middle class catching up.

Challenging the optimistic outlook of many investors and analysts, Dent criticizes the recent market rally.

including the Dow Jones Industrial Average’s record highs. He sees these as transient and deceptive, pushing investors to “get out of the way” of the impending financial storm.

The Federal Reserve’s recent hints at ending its campaign against inflation and the possibility of rate cuts, according to Dent, will not prevent the looming crisis. He argues that the central bank’s efforts are too little, too late, predicting a shift from disinflation to deflation, a scenario not seen since the 1930s.

 Harry Dent went on to say:

If I’m right, it is going to be the biggest crash of our lifetime, with most of it happening in 2024.
Dent’s major concern is the possibility of a prolonged economic slowdown following the “everything bubble” burst.

The economist predicts a new boom period that will be more characterized by the middle class growing than by the rich getting richer. This new phase, according to Dent, could extend until around 2037, offering a glimmer of hope after a period of intense economic turmoil.

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