An economist who accurately predicted Japan’s lost decade in the 1990s while everyone else was predicting that Japan would overtake the U.S. economy, accurately predicted the “short but sharp” recession in 1990-1991, accurately predicted the bull market in the 1990’s that would push the DOW past 10,000, accurately predicted the market peak in 2000 and that the Dot-com bubble was about to burst, accurately predicted a decade long bull market that would peak in 2007 and then burst in 2008, accurately predicted the exact day that the markets would bottom out in 2009, accurately predicted that the DOW would then skyrocket and hit 17,000 by 2014 (after falling 54% in 2009 to 6,547) and has accurately predicted that oil prices would fall to at least $45 between late 2014 and 2016 (after hitting more than $166 in June 2008) has now made an alarming prediction about 2021, and it could begin within weeks.
After hearing Harry Dent’s new prediction and looking at his track record, I’m not taking any chances on betting against him. If Dent’s latest prediction is right, we are about to enter another massive economic collapse, one that is the largest collapse that any of us have seen in our lifetimes, and that includes the 2008 collapse where markets fell by 50%, and could be on the scale of the Great Depression.
I have been saying for a long time that something isn’t right and that eventually this house of cards will eventually come crashing down, so Dent’s prediction really isn’t that surprising. Sure the markets are at record highs but we still haven’t really recovered from the 2008 crash because we didn’t allow things to reset. Instead of naturally allowing the markets to bottom out, we threw trillions of dollars at propping the economy up under the Bush and Obama administrations. What we did is put a band-aid over a gunshot wound and was told that we are all better. We aren’t and now that wound is severely infected.
For the past few months I’ve been saying that a purifying fire is coming that will burn anything that isn’t rooted in truth. We saw that in all of 2020 where it seemed like we have lost trust in almost everything. I saw that countless times in my own life over the past year. And now it looks like we are soon going to see that with our economy, where people are starting to lose faith in the house of cards that we have built, and it won’t take much for all of that to come crashing down.
Harry Dent is now predicting that a massive crash will happen between 2021-2022, where the markets will lose 50% of their value within months, and that crash could begin in as early as late February/early March 2021. If Dent’s prediction is right, the markets won’t reach new highs again for decades, similar to what we saw after the Great Depression.
It’s certainly possible that Dent is off on the timing. With his track record I don’t know if I feel comfortable betting against him but there’s always a change that this crash doesn’t happen….yet. It’s going to happen at some point because at some point soon we will get to the point where people will no longer have faith in the dollar and no amount of money that the government tries to throw at it will fix the problem. And the longer the government is able to prop the economy up, the worse the eventual crash will be, which is why they should have just left things alone after the 2008 crash. Sure, things would have sucked for decades, but we would have been able to rebuild things on a strong foundation instead of building a house of cards that will soon come crashing down once again and it’s going to be worse.
I’m not telling you to panic because panicking is the worst possible thing that you can do. Now is the time to prepare, not panic. Whether Dent is right and this crash begins this month, or next year, or it happens 5 years from now, a crash is coming. That is why it’s critical that you diversify. Don’t sell everything to prepare for this crash but don’t keep all of your assets in the stock market either. Make sure that you have a several month emergency fund saved up outside of the stock market, but don’t put all of your money in one savings account either in case your bank were to fail. Try to pay down debt as fast as possible. Look into refinancing any loans that you have, without resetting the term of your loan. Rates are currently at record lows but that isn’t going to last forever. If you have a house, consider downsizing now while things are relatively good. Stock up on essential items in case you won’t be able to find them or won’t be able to afford to buy them if you were to lose your job. And move 10-15% of your assets into precious metals like gold and silver. Precious metals usually crash along with everything else temporiarly, but then recover faster then the markets do.
If you are prepared for what’s coming, you won’t be the one who is going to start panicking along with the rest of society. As I have been saying for the past six months, things are going to get much, much worse before they get better. They will eventually get better but things are going to suck for awhile. Prepare for dark days ahead
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