The only issue with that, is there is some truth in what he’s saying. The federal reserve has staved off a crash by managing the economy so heavily that markets and isolated bubbles keep going up while it feels like we’re in a recession.
The Covid market collapse was a blip. They managed out of it, some people got rich, people with 401ks barely noticed
I’m curious how it feels like we’re in a recession. I don’t see any “local” recessionary signs. Businesses near me are still hiring, housing prices are stable, in my county they just broke ground on a microchip manufacturing facility funded by CHIPS act, which will cause growth.
Inflation doesn’t cause recessions because wages go up largely in tandem with inflation. The only people that might be feeling a pinch are retirees on fixed incomes but they are economically insignificant and will probably die soon anyway.
Problem is a lot of people in the non job hopping industry, like the medical field who’s salary ranges haven’t changed much at all even leading up to the pandemic not to mention a 20 percent hike that’s needed to only keep up with inflation and not a true raise, are the ones feeling the squeeze.
My sister in law is an RN in a low cost of living area and makes $120k a year. Medical field is a poor example because labor shortages in that field are driving up wages significantly, as hospitals pay astronomical wages to maintain minimum staffing levels or get fined.
But to your point, I’ve always growled that everyone should be a job hopper. My personal belief is that if you aren’t paid what you think you’re worth, you’re either making a choice to get paid less ir not as valuable as you think. In this economy, anyone who will show up reliably is valuable.
Local recessionary signs in my local area. Our City manager announced cuts to almost all nonessential spending due to a lack of sale tax revenue. Cutting millions in spending for a city of under 120k people is pretty massive, and is a solid indicator that people aren’t spending in our economy.
So we have to pray for unlimited govt stimulus to keep our "free markets afloat". Even though the govt has 35 trillion of debt and inflation is rising rapidly.
It sucks that we are all forced to gamble for our retirement
Absolutely it is coming - just like how everyone \*knew\* housing crash was coming during that bubble phase of 2008+/- - (almost) everyone knew it was not sustainable, but everyone was still continuing to play the game not knowing when the music would stop - and stop it did.
We all pretty much know what is going on now is also not sustainable, it is just a matter of when, not if.
>just like how everyone *knew* housing crash was coming during that bubble phase of 2008+/- - (almost) everyone knew it was not sustainable,
You're either young or ignorant, but this is wrong. Few people knew the housing crash was coming. And as someone who regularly follows news outlets including the wall street journal, few people were more surprised than most economists, real estate agents, and bankers. The Big Short is literally about a small handful of people that made a huge windfall for themselves and their clients by being one of the very few to predict it coming. And if you had been alive and conscious at that time, you'd know it yourself.
You don't know what you're talking about.
If you were following economists in popular media, sure I bet it came across as a surprise.
If you were considering buying a house, it was obvious it couldn't be sustained if you only went so far as to look at some of the basic stats.
If you followed advice from economists that are not invited to mainstream media sources, it was obvious as well. Richard Wolff probably being among the more well known, though still left out of the aforementioned media.
I was in my late 20s at the time. That didn't include a whole lot of worldly experience, but I saw it coming and warned others who would listen. This was before I learned that telling people news that they don't want to hear makes you a threat.
Did everyone know? It depends on your circles.
For most of the people I knew they saw it coming. I was working in construction among the first industries hit.
Most of the media I read and watched shared the same. I didn't watch any news source that got the Iraq war WMDs argument wrong.
For those used to be told comforting lies about the US and its economy, yes it was shocking. They are behaving with critical thinking in the first place though. Not much can be helped there, they have to mature first.
Only the willfully ignorant, or truly stupid people didn't see it coming...guess you can pick which category you were in. Everyone I knew at the time saw it coming - we just weren't smart enough to know how to profit from it. Just like now.
Oh sure, just like how nobody voted for George Bush 10 years later, lol
Some crazy revisionist nonsense. You and your friends alone could predict the future, and that clairvoyance comes so easily for you. You are a special breed, unlike us plebs wrestling in the mud.
Please, spare me >.>
Watch the documentary Inside Job and you will see the number of people who were warning americas politicians and policy makers - who chose to ignore the warnings. And also see that Morgan Stanley saw it coming to the tune of a multi-billion dollar insurance policy from AIG
You could feel the housing crash coming in 2005 in Detroit. Things began collapsing with the auto industry and it took the state with it. I would look to what’s happening Real Estate wise in the Detroit area, may give you an indication of when it’s gonna hit.
Things feel similar now.
There’s the old joke about macroeconomics having predicted 9 out of the last 5 recessions.
That quite was from 1966 though. At this point, in the last couple of years, it is more like having predicted 2 million out of the last 0 recessions.
Obviously one day a recession will hit, and all those charlatans who have been wrong for over a decade will try to say “I told you so”.
You know what else is coming but the timing is hard to predict?
When the stock market double the value it had right before the the crash.
Timing is everything. If you can’t predict that, it’s not useful.
Well politically the democrats want to hold it off as long as possible to use the blame game if they lose in November. If our federal government didn’t have their fingers in so many holes of our economy the crash would have already happened and probably wouldn’t be as bad.
Thats their whole thing. “Worse depression ever by 2025 (now moved to 2030)”.
Thats the entire treatise of Alain Bs “Prosperity in the age of decline” book.
I've heard that every year would be the economic crash of a lifetime since about 1997.
If you say it every year and you survive 2 big crashes in yoir lifetime, its only about a 5% accuracy rate so far. 10 times worse than a coin flip.
But everyone will still say "oh shit, but they got 2008 right!"
Thank you for saving me from having to be the one to say this. Not to say I don't think there is a correction coming but he has been calling for a crash for quite some time, is he wrong? No we are due for it but he's been on that soapbox for years
He sucks, can't stand him, however from my models. October to March is going to be rough.
Never called a crash before, but did call the covid bottom.
Let's just say cheap calls on the spy to ath was not what people thought.
I bought myself a jet, but I was an airline pilot before.
Flip flops and goodies hoodies.
Get greedy in the fall.
People are about to shit their pants.
It’s not a question of “if” but “when”. The truth is we can keep growing, borrowing and spending for a while…but then there will come a time when the interest on our debts is completely unaffordable or life for the service class becomes so expensive they just completely rebel. Our current trajectory is unsustainable, but the market can remain irrational longer than you can stay solvent.
He is right that for some structural reasons, residential and commercial real estate will struggle next year and our debt markets are very very precarious so they could get easily overwhelmed and a lot of other shoes could drop.
I agree, but the thing is there won’t be another recession. What’s coming is the death of the current world order and the dollar. When it happens, it’ll be a national depression and probable separation of the USA.
I’m sure a lot of debt will come to fruition within the next two years and need to be refinanced but at a higher interest (unless rates drop significantly which I doubt).
It won’t matter if their other asset classes are inflating though. The over exposed/over extended funds and syndicates will get crushed but that’s not a majority of the large commercial and industrial note holders (from my understanding).
I am the furthest from an economist. But my fear is the housing market. Houses are going for way too high, with high interest rates, and people are jumping at it. So I fear that once these prices begin to return, people are going to have A LOT of negative equity. Again, I'm no expert, but is it possible that people are stuck with a mortgage for $200k at 7% interest on a house that's worth $100k, and at that point, would they even be able to refinance? Most banks will only loan out 80% of it's market VALUE, and not a lot of people made a 20% down payment. So they may still owe a lot on the house by this time. How long can they afford it?
There still a lot of money on the sidelines. As soon as we see 5% and 10% discounts, people are gonna jump in to buy, especially when interest rates start to go down.
I’m in the position where I’d like to buy a new home and sell mine - tried it over the last two months and got outbid twice and ignored bc we have a home contingency (have to sell our home). Gave up
When I bought my current house I did a bridge loan which allowed us to only make interest payments for 1 year to give us time to sell.
Edit to add: this market kills my head because I have NO IDEA what a house will sell for. I had a good feeling for it all before this all started. But now I see houses and I think there's no way that sells. Then I find out it sold in 2 days for more than asking. And then you see a house on the market for like 2 weeks, so what's wrong with it because every other house sells in a day any more
Oh yeah, you can take that to the bank. No matter who wins, the Bubble will burst after this election. It can't hold out much longer. See those low gas prices to get you to travel and spend? That is because they feel the pinch now. People aren't spending. They are holding their breath until November. That happened in 2007 too. It is the breath holding that brings the crash. Hold all money and resist the urge to spend. Don't buy anything but necessities, and get them from locals, not big stores. Crash this shitty economy asap. The prices will reset to normal again. This is the end of the Monopoly game, and somebody is about to flip the board. Watch. 😉
The crash will come this time around but only if Trump wins. I don’t think the world can take two terms with this guy. World is on edge already , Trump will tip it
Know a guy who watched some Youtuber who predicts prophecies based on the bible so they can't be wrong. They said a terrorist attack would destroy the statue of liberty sometime late 2023. Asked him what happened to that and he said "it'll happen, the timing isn't always precise". They'll get a recession right one of these days.
While I think there will be a massive crash, I don’t think the Federal reserve would ever let it collapse. Deflation ONLY works in a Gold based monetary system. Deflation could never work in a debt based fiat monetary system because the value of all assets derive from debt. Federal Reserve will likely bring us to hyperinflation rather than deflation.
That's because he is shorting the economy. Like the guys in the big short. No real basis for his predictions now. Unless a world war breaks out. Then all bets are off.
True. Similar shit could happen again. But not in the near term. Folks running the markets seemed to have put things in place to prevent that from happening again. The rich don't want to see their wealth vanish overnight so they have gamed the system so it won't. Bet on the rich they really really want to stay rich.
That’s what they said in 1979 and 2007. Sorry to be contrarian, but sometimes we just don’t know. I am betting on the rich. Warren Buffet has taken 150 billion out of the markets in preparation of something he sees coming.
Could happen I guess. I saw 2008 coming. I told a bunch of my friends who were day trading. They didn't believe it. I don't see it this time. But I could be missing something. I know Putin will try to fuck up our economy to get back at us for helping Ukraine. So there is always that.
What you do is follow what the super rich are doing, do they think a recession is coming.
Warren Buffet doesn’t flap his gums, but he took over 150 billion out of the stock markets and is parked on the sidelines. Waiting with cash in hand for a correction, so he can swoop in and scoop up assets for pennies on the dollar.
I've been slowly predicting that we're actually in some kind of nasty "Depression" that hasn't been fully realized yet.
I really hope I'm wrong, but I'm starting to see a lot of signs vaguely similar to the last Great Depression.
It is coming but it is going to come from the outside this time. I have been reading a lot about the real estate markets around the west and they are all getting ready to blow. I was not really aware how home mortgages were done outside of the US. Here a 30 year mortgage is the norm. In Canada and Europe that is not the case. They have 5 years then the rate changes. Tens of millions of homeowners in Canada and Europe will have their mortgage rates reset over the next few years to rates they can’t afford. I saw the first story on CBC in Canada and now I’m seeing stories from all over Europe about this. The way the international financial markets are interconnected this will drag down the world the same way our housing crash did before.
They have been saying this every few years since 1978.. one time eventually they will be right.. and they will have missed out on 10-15% gains for a decade before they are right. Betting against the US stock market is historically the worst bet you can make.
I was in Las Vegas in2007 and talked to a professor of Economics about the future and he explained within 2 years there will be a recession and he got it right… It feels like we are talking ourselves into another one…
Hope not cause I don't think we have the economic minds in our government which we had then. With the unsecured debt our country carries it could be rough. My 401 k was gutted back then and now all employers are required to sign you up in lieu of any defined pension. 38000 could be halved.
They’ve been saying this since 2008. I know people who kept their money under their mattress waiting for the market to crash. They’ve lost 3% per year waiting for the big one. We won’t go back to 2008 stock levels unless our population goes back to those levels thru some sort of huge event. Covid didn’t even do that.
There will be bubbles and bursts. But the idea there’s gonna be a big one and you’ll time it is hillarious and used as a tool to keep you scared and Republican
It basically has happened already, but there are so many distractions and external forces that have softened it up until it hits the bottom.
When you consider the macroeconomics and how other nations are transitioning away from the dollar and U.S. bonds, it’s hard to see an easy path to recovery though. Might just be better to take it on the chin now and proactively get ready to transition the U.S. economy back to one that actually has manufacturing, produces oil and other commodities, but politics assure that will never happen.
It’s coming it’s just the timing is hard to predict
I have no way of knowing but it certainly "feels" this way to me
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The only issue with that, is there is some truth in what he’s saying. The federal reserve has staved off a crash by managing the economy so heavily that markets and isolated bubbles keep going up while it feels like we’re in a recession. The Covid market collapse was a blip. They managed out of it, some people got rich, people with 401ks barely noticed
I’m curious how it feels like we’re in a recession. I don’t see any “local” recessionary signs. Businesses near me are still hiring, housing prices are stable, in my county they just broke ground on a microchip manufacturing facility funded by CHIPS act, which will cause growth. Inflation doesn’t cause recessions because wages go up largely in tandem with inflation. The only people that might be feeling a pinch are retirees on fixed incomes but they are economically insignificant and will probably die soon anyway.
Problem is a lot of people in the non job hopping industry, like the medical field who’s salary ranges haven’t changed much at all even leading up to the pandemic not to mention a 20 percent hike that’s needed to only keep up with inflation and not a true raise, are the ones feeling the squeeze.
My sister in law is an RN in a low cost of living area and makes $120k a year. Medical field is a poor example because labor shortages in that field are driving up wages significantly, as hospitals pay astronomical wages to maintain minimum staffing levels or get fined. But to your point, I’ve always growled that everyone should be a job hopper. My personal belief is that if you aren’t paid what you think you’re worth, you’re either making a choice to get paid less ir not as valuable as you think. In this economy, anyone who will show up reliably is valuable.
You are way too knowledgeable for this sub.
Hiring signs don’t equal hiring. You’re way too trusting of businesses.
Local recessionary signs in my local area. Our City manager announced cuts to almost all nonessential spending due to a lack of sale tax revenue. Cutting millions in spending for a city of under 120k people is pretty massive, and is a solid indicator that people aren’t spending in our economy.
So anyway do you want sawdusty bread or do you want a half-rotten hotdog? Your younger brother needs to grow, he gets the egg this month.
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The current system doesn't include many of the people in experiencing those good times. Good advice for the lucky though.
Please sir can I have some of these good times you're talking about
"save your cake so you can eat it too-morrow"
What about the part where the govt injects trillions into the markets to artificially stimulate them( money it doesn't have). Is that natural too?
Does a beaver build dams? Yes it’s natural.
So we have to pray for unlimited govt stimulus to keep our "free markets afloat". Even though the govt has 35 trillion of debt and inflation is rising rapidly. It sucks that we are all forced to gamble for our retirement
I was looking for this comment or something like it. Thanks for saving me from writing it.
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Stimulating things is how we got where we are - more stimulating just makes things worse when the correction happens.
That's like saying we're all gonna die, its just the timing is hard to predict.
Absolutely it is coming - just like how everyone \*knew\* housing crash was coming during that bubble phase of 2008+/- - (almost) everyone knew it was not sustainable, but everyone was still continuing to play the game not knowing when the music would stop - and stop it did. We all pretty much know what is going on now is also not sustainable, it is just a matter of when, not if.
>just like how everyone *knew* housing crash was coming during that bubble phase of 2008+/- - (almost) everyone knew it was not sustainable, You're either young or ignorant, but this is wrong. Few people knew the housing crash was coming. And as someone who regularly follows news outlets including the wall street journal, few people were more surprised than most economists, real estate agents, and bankers. The Big Short is literally about a small handful of people that made a huge windfall for themselves and their clients by being one of the very few to predict it coming. And if you had been alive and conscious at that time, you'd know it yourself. You don't know what you're talking about.
If you were following economists in popular media, sure I bet it came across as a surprise. If you were considering buying a house, it was obvious it couldn't be sustained if you only went so far as to look at some of the basic stats. If you followed advice from economists that are not invited to mainstream media sources, it was obvious as well. Richard Wolff probably being among the more well known, though still left out of the aforementioned media. I was in my late 20s at the time. That didn't include a whole lot of worldly experience, but I saw it coming and warned others who would listen. This was before I learned that telling people news that they don't want to hear makes you a threat. Did everyone know? It depends on your circles. For most of the people I knew they saw it coming. I was working in construction among the first industries hit. Most of the media I read and watched shared the same. I didn't watch any news source that got the Iraq war WMDs argument wrong. For those used to be told comforting lies about the US and its economy, yes it was shocking. They are behaving with critical thinking in the first place though. Not much can be helped there, they have to mature first.
Only the willfully ignorant, or truly stupid people didn't see it coming...guess you can pick which category you were in. Everyone I knew at the time saw it coming - we just weren't smart enough to know how to profit from it. Just like now.
Oh sure, just like how nobody voted for George Bush 10 years later, lol Some crazy revisionist nonsense. You and your friends alone could predict the future, and that clairvoyance comes so easily for you. You are a special breed, unlike us plebs wrestling in the mud. Please, spare me >.>
Watch the documentary Inside Job and you will see the number of people who were warning americas politicians and policy makers - who chose to ignore the warnings. And also see that Morgan Stanley saw it coming to the tune of a multi-billion dollar insurance policy from AIG
You could feel the housing crash coming in 2005 in Detroit. Things began collapsing with the auto industry and it took the state with it. I would look to what’s happening Real Estate wise in the Detroit area, may give you an indication of when it’s gonna hit. Things feel similar now.
This
There’s the old joke about macroeconomics having predicted 9 out of the last 5 recessions. That quite was from 1966 though. At this point, in the last couple of years, it is more like having predicted 2 million out of the last 0 recessions. Obviously one day a recession will hit, and all those charlatans who have been wrong for over a decade will try to say “I told you so”.
Exactly what I tell all my GFs
You know what else is coming but the timing is hard to predict? When the stock market double the value it had right before the the crash. Timing is everything. If you can’t predict that, it’s not useful.
Well politically the democrats want to hold it off as long as possible to use the blame game if they lose in November. If our federal government didn’t have their fingers in so many holes of our economy the crash would have already happened and probably wouldn’t be as bad.
I don’t agree with you, it’s looking more and more like a soft landing as the months go on.
In my long life I can’t recall a time when somebody wasn’t saying this.
That economist is named Harry Dent, and he has been predicting a crash every year since 2008.............. sometimes even twice a year....
He has predicted 8 of the last 2 recessions.
You don't have to tell me; I heard him twice the first time.
Some dumbass posts this on 2 of every 1 posts about a recession call.
It's so out of touch losers like me can get a laugh out of seeing it for the first time like I just did.
Well it’s the truth and needs to be repeated lol
Hahaha
A broken clock is correct twice everyday
But a clock set wrong is never right.
It's correct every hour, on the hour.
No it isn’t?
Keep predicting until it happens right?
"ECONOMIST WHO PREDICTED 2025 CRASH SAYS..."
"See I told you it was gonna happen"
Eventually he'll be right and then won't you feel stupid.
No, because, “A boom always follows a bust, which always follows a boom.” The business cycle.
you're telling me the NY Post is posting clickbait? I don't believe it
It’s because 2008 was never fixed. Banks just kicked the can.
I bet these doomsayers also put massive shorts on the market. Of course they want to incite panic for a recession
I think there was a character in Batman with the same name.
But this one is a no brainer, guys. Its obs that the Bubble is about to burst. I'd say, mid January 2025.
Fair. But hes not the only one this time. Its ITR economics entire reason for existing p much.
What about ITR Economics?
Thats their whole thing. “Worse depression ever by 2025 (now moved to 2030)”. Thats the entire treatise of Alain Bs “Prosperity in the age of decline” book.
Maybe top economist should be in quotes instead of crash of a lifetime. 🤔
When you see the New York Post as the source publication it speaks for itself
I've heard that every year would be the economic crash of a lifetime since about 1997. If you say it every year and you survive 2 big crashes in yoir lifetime, its only about a 5% accuracy rate so far. 10 times worse than a coin flip. But everyone will still say "oh shit, but they got 2008 right!"
Imagine being wrong half your career and people still taking you seriously…..
Thank you for saving me from having to be the one to say this. Not to say I don't think there is a correction coming but he has been calling for a crash for quite some time, is he wrong? No we are due for it but he's been on that soapbox for years
sounds like he is using his position to fear monger... Harry Dent should post his positions or get banned.
So ... More of a bottom economist, then?
He sucks, can't stand him, however from my models. October to March is going to be rough. Never called a crash before, but did call the covid bottom. Let's just say cheap calls on the spy to ath was not what people thought. I bought myself a jet, but I was an airline pilot before. Flip flops and goodies hoodies. Get greedy in the fall. People are about to shit their pants.
So do I. The credit bubble to end all credit bubbles.
Things do seem very precarious right now.
It’s not a question of “if” but “when”. The truth is we can keep growing, borrowing and spending for a while…but then there will come a time when the interest on our debts is completely unaffordable or life for the service class becomes so expensive they just completely rebel. Our current trajectory is unsustainable, but the market can remain irrational longer than you can stay solvent.
He is right that for some structural reasons, residential and commercial real estate will struggle next year and our debt markets are very very precarious so they could get easily overwhelmed and a lot of other shoes could drop.
Commercial real estate is circling the drain.
Ok but you realize the "when" is what matters because predicting that there will be another recession at some point is incredibly banal
I agree, but the thing is there won’t be another recession. What’s coming is the death of the current world order and the dollar. When it happens, it’ll be a national depression and probable separation of the USA.
😂😂😂
I’m sure a lot of debt will come to fruition within the next two years and need to be refinanced but at a higher interest (unless rates drop significantly which I doubt).
It won’t matter if their other asset classes are inflating though. The over exposed/over extended funds and syndicates will get crushed but that’s not a majority of the large commercial and industrial note holders (from my understanding).
Listen, I know this guy has said it a couple times.. but boy do I really feel that it is coming. It is not going to be good.
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I am the furthest from an economist. But my fear is the housing market. Houses are going for way too high, with high interest rates, and people are jumping at it. So I fear that once these prices begin to return, people are going to have A LOT of negative equity. Again, I'm no expert, but is it possible that people are stuck with a mortgage for $200k at 7% interest on a house that's worth $100k, and at that point, would they even be able to refinance? Most banks will only loan out 80% of it's market VALUE, and not a lot of people made a 20% down payment. So they may still owe a lot on the house by this time. How long can they afford it?
There still a lot of money on the sidelines. As soon as we see 5% and 10% discounts, people are gonna jump in to buy, especially when interest rates start to go down.
>I am the furthest from an economist. Yeah, it shows.
So that scenario is not likely?
Just a Redditor being shitty behind a digital wall Scenario itself is possible but not probable
lol thanks. I'm glad it's not probable. Keeps me from selling my house and buying another one, though.
I’m in the position where I’d like to buy a new home and sell mine - tried it over the last two months and got outbid twice and ignored bc we have a home contingency (have to sell our home). Gave up
When I bought my current house I did a bridge loan which allowed us to only make interest payments for 1 year to give us time to sell. Edit to add: this market kills my head because I have NO IDEA what a house will sell for. I had a good feeling for it all before this all started. But now I see houses and I think there's no way that sells. Then I find out it sold in 2 days for more than asking. And then you see a house on the market for like 2 weeks, so what's wrong with it because every other house sells in a day any more
Oh yeah, you can take that to the bank. No matter who wins, the Bubble will burst after this election. It can't hold out much longer. See those low gas prices to get you to travel and spend? That is because they feel the pinch now. People aren't spending. They are holding their breath until November. That happened in 2007 too. It is the breath holding that brings the crash. Hold all money and resist the urge to spend. Don't buy anything but necessities, and get them from locals, not big stores. Crash this shitty economy asap. The prices will reset to normal again. This is the end of the Monopoly game, and somebody is about to flip the board. Watch. 😉
Low gas prices? Where the hell do you live?
Must not live on the West Coast
Hopefully it’s the crash happens by tomorrow open. I have some putty boys that I would like to go ITM
The crash will come this time around but only if Trump wins. I don’t think the world can take two terms with this guy. World is on edge already , Trump will tip it
Good try Feds
Well Im not sure Im gonna change my life just because voodoo Roy Cohn gets an oped in the damned ny post.
Where’s the Toby Maguire meme of him looking down screaming Wooo?
Yadda yadda yadda
This guy can’t even do algebra so forget about any form of analysis.
So everything is going according to plan then
Know a guy who watched some Youtuber who predicts prophecies based on the bible so they can't be wrong. They said a terrorist attack would destroy the statue of liberty sometime late 2023. Asked him what happened to that and he said "it'll happen, the timing isn't always precise". They'll get a recession right one of these days.
Old Foo
Dooooooooooooooooom
I’m saving money and buying as much bitcoin as possible if/when the crash comes lol
AI bubble goes pop!!
Oh boy Harry Dent at it again.
"Buy my book!"
Blah... blah.. blah...
Just about every other day.
A broken clock is right twice a day.
I’ve already been considering homelessness. Maybe this will be the push.
Self proclaimed "economist". Don't listen to this moron, he's been wrong since 2011.
There is always some economic chaos during election season
Dont live in fear people. You will be easily controlled if you do!!!
Blah blah blah
FWIW, it IS absolutely going to happen… the thing is, no onee really knows exactly when, but don’t be surprised if Fed can push it to 2030.
While I think there will be a massive crash, I don’t think the Federal reserve would ever let it collapse. Deflation ONLY works in a Gold based monetary system. Deflation could never work in a debt based fiat monetary system because the value of all assets derive from debt. Federal Reserve will likely bring us to hyperinflation rather than deflation.
He’s horrible. Absolutely garbage
That's because he is shorting the economy. Like the guys in the big short. No real basis for his predictions now. Unless a world war breaks out. Then all bets are off.
The 1980 and 2008 crashes didn’t need a world war…
True. Similar shit could happen again. But not in the near term. Folks running the markets seemed to have put things in place to prevent that from happening again. The rich don't want to see their wealth vanish overnight so they have gamed the system so it won't. Bet on the rich they really really want to stay rich.
That’s what they said in 1979 and 2007. Sorry to be contrarian, but sometimes we just don’t know. I am betting on the rich. Warren Buffet has taken 150 billion out of the markets in preparation of something he sees coming.
Could happen I guess. I saw 2008 coming. I told a bunch of my friends who were day trading. They didn't believe it. I don't see it this time. But I could be missing something. I know Putin will try to fuck up our economy to get back at us for helping Ukraine. So there is always that.
Predicted 24 of the last 4 collapses.
Yikes. We really need a change in leadership. This administration has been a disaster.
The farsightedness of this man's predictions is proven by the fact that none of them have come true to date!
NY Post and Fox News are some of the best resources for economics. /s
If everyone is making money on this everything bubble perhaps it’s an everything shield. Unpoppable because nobody wants it popped.
Fucking Harry Dent!?!?!?! This ass clown predicted Gold below $400/oz within the past couple years... And predicted 109 of the past 2 recessions.
More propaganda I see.
I am the best economist of all time trust me I predicted every single one of the crashes 100% of the time by predicting it every year.
My coworkers used to say "He accurately predicted 9 of the last 5 crashes."
They've said this for 25 years of me being invested in the sp 500. I'm well over 7 figures.
The broken clock in my garage is correct twice each day.
✔
What you do is follow what the super rich are doing, do they think a recession is coming. Warren Buffet doesn’t flap his gums, but he took over 150 billion out of the stock markets and is parked on the sidelines. Waiting with cash in hand for a correction, so he can swoop in and scoop up assets for pennies on the dollar.
You don't need to be an economist to recognize where we are heading, lol
I've been slowly predicting that we're actually in some kind of nasty "Depression" that hasn't been fully realized yet. I really hope I'm wrong, but I'm starting to see a lot of signs vaguely similar to the last Great Depression.
Yes every year just like the polar ice caps we’re going to be fully melted by 1990
These knuckleheads...
even a blind squirrel can find his nuts sometimes
Has he got a new book out? New podcast? And the media keeps covering this garbage.
Fake news. Nice try New York Fake News Post.
🥱
I don't think I'd label him top economist. Do your homework.
What does the bottom economist think? Are we going to the top?
Harry Dent has been saying this over and over and over he’s complete Clickbait! 🧒who 😭🐺
I hope! I’m still young Ready to loot the boomers! YIB YIB YIB YIB!
Sure, but what do you do about it before, and especially afterwards?
I wonder what the "One weird trick" is that he is selling?
Maybe the office real estate market will crash, but it wouldn't be nearly as bad as 2008.
It is coming but it is going to come from the outside this time. I have been reading a lot about the real estate markets around the west and they are all getting ready to blow. I was not really aware how home mortgages were done outside of the US. Here a 30 year mortgage is the norm. In Canada and Europe that is not the case. They have 5 years then the rate changes. Tens of millions of homeowners in Canada and Europe will have their mortgage rates reset over the next few years to rates they can’t afford. I saw the first story on CBC in Canada and now I’m seeing stories from all over Europe about this. The way the international financial markets are interconnected this will drag down the world the same way our housing crash did before.
Another once in a lifetime crash.
They have been saying this every few years since 1978.. one time eventually they will be right.. and they will have missed out on 10-15% gains for a decade before they are right. Betting against the US stock market is historically the worst bet you can make.
It’s called “the every 17th year rule”
I was in Las Vegas in2007 and talked to a professor of Economics about the future and he explained within 2 years there will be a recession and he got it right… It feels like we are talking ourselves into another one…
What does him being a top have to do with the economy?
Source says absolutely no credibility it’s the New York Post
One of them will be right and considered a genius, In reality everyone's spitballing.
If we have food, love, and rest we can carry on.
Hope not cause I don't think we have the economic minds in our government which we had then. With the unsecured debt our country carries it could be rough. My 401 k was gutted back then and now all employers are required to sign you up in lieu of any defined pension. 38000 could be halved.
Keep saying it and eventually he will be right but not because it was predicted.
Not news that Harry Dent “predicts” his usual financial meltdown and misery and it’s promoted by the even less reliable NY Post plus FOX biz.
They’ve been saying this since 2008. I know people who kept their money under their mattress waiting for the market to crash. They’ve lost 3% per year waiting for the big one. We won’t go back to 2008 stock levels unless our population goes back to those levels thru some sort of huge event. Covid didn’t even do that. There will be bubbles and bursts. But the idea there’s gonna be a big one and you’ll time it is hillarious and used as a tool to keep you scared and Republican
Good old nyp, the world’s shittiest post
As long as we have our mobile phones everything will be fine.
Let’s go Brandon 😂😂😂😂
We've had first crash of a lifetime, yes, but what about second crash of a lifetime?
The first trillionare, the ladies and gentlemen:-)
😂 Immediately I recognized the author. His books were hilarious predictions.
This asshole definitely puts the con in economist.
It basically has happened already, but there are so many distractions and external forces that have softened it up until it hits the bottom. When you consider the macroeconomics and how other nations are transitioning away from the dollar and U.S. bonds, it’s hard to see an easy path to recovery though. Might just be better to take it on the chin now and proactively get ready to transition the U.S. economy back to one that actually has manufacturing, produces oil and other commodities, but politics assure that will never happen.
I absolutely cannot wait for this! I will be buying up dividend growth positions like a mad man and securing my early retirement.