I think he is wrong about any US market volatility, for the simple reason that the US markets have been successfully manipulated to maintain artificial stability for some years now. No reason for that to stop now.
What we think of as “the markets” are just limited indicators of select groups of stocks. But these market indicators are so powerful, they push the entire markets around.
So imagine if you have a few billion dollars, which, importantly, you could use to buy or sell these indicator stocks, *invisibly* to the market. That is, nobody could track *your* buys or sells.
You could make the market do anything you wanted. If the market wanted to sell, you buy enough to neutralize it, and visa versa.
Once the investors realize that there is very little volatility in the market, unless they are buying share for the dividends, for the long haul, they have no reason to buy or sell what they own.
So, what happens is what has been happening for a while now: market volume is tiny. Nobody is buying and nobody is selling, compared to when the market was operating without wholesale manipulation.
But this also means there will be no market crash. And if there is no market crash, how will the public know that the economy has gone stinker? They can see inflation in the stores, but that is about it.