Harry Dent Sees a Big Crash Coming, Urges Investors to Prepare
In an interview with Moneynews, Harry Dent, author of The Roaring 2000s Investor and The Great Depression Ahead, said that “deflation in turn will trigger crashes in stocks, bonds and real estate.” According to Dent, the deflation will be caused by “way too much debt in our system,” and he advises investors to stay in cash.
His debt calculation includes corporate at $11 trillion, government at $14 trillion, and the financial sector at $17 trillion. The solution he suggests is that “we have to restructure this debt.”
He goes to say that he expects the deficit to get up to $3 trillion in the next two years. It’s an urgent prediction that’s roughly in line with our take on the markets. It’s also a useful insight to take into consideration when you’re planning your personal investing strategy. Dent is part of a growing chorus of voices warning about impending financial danger.
The full story and video of the interview is available in Moneynews coverage of Dent’s perspective on the coming big crash.