Posted on 02/03/2021 4:54:12 PM PST by The_Media_never_lie
Harry S. Dent Jr., the “Contrarian’s Contrarian,” who for years was predicting a cataclysmic market crash late 2017 to early 2020, isn’t gloating. But clearly his mode is I-told-you-so. Recently, he’d warned that the worrisome debt and financial assets bubble would blow in March. Then came “the perfect trigger”: coronavirus, which proved his forecast correct and threw America into “an instant depression,” he argues in an interview with ThinkAdvisor.
The U.S. is going through “detox for a crack-addicted economy,” Dent insists, citing a bubble that’s been building to an “orgasmic phase” for some time.
(Excerpt) Read more at thinkadvisor.com ...
The last omnibus/covid relief hasn’t hit the clock yet...we’re $30 trillion current debt. $159 trillion in unfunded liabilities.
This next covid bill will add yet another $2 trillion, war on the horizon...you get the point.
Our bonds are not being purchased by foreign lenders. The Fed reserve is monetizing our debt by placing it on their balance sheet.
I say all that to say this...a hike in taxes, rising fuel/oil prices will cause inflation to rise. Depending on the rate of inflation, the fed will hike interest rates. The cost to service the debt goes up...rock and a hard place.
The economic landscape does not look promising.
That’s pretty much what I was thinking too.
There is no way interest rates will ever go above 5% ....the interest alone would make the deficit double overnight
Economic activity in the US and much of the world will throttle back long before the interest rate gets to 5%.
>>There is no way interest rates will ever go above 5% ....the interest alone would make the deficit double overnight<<
I agree. This is the rock and hard place scenario.
Harry Dent is one hell of a clever and convincing writer. He can really make people feel like they have the inside track. But he has been DRAMATICALLY wrong so many more times than he has been right. And he will say stuff like “x will happen sometime in late 2019, or up to 12 to 18 months later”.
I guess you could say that he has a special Jello pen with which he writes his predictions. LOL
A broke clock is correct twice a day!
“If you predict a crash, eventually you will be right.
If you predict a boom, eventually you will be right.”
“Then came “the perfect trigger”: coronavirus, which proved his forecast correct and threw America into “an instant depression,” he argues in an interview with ThinkAdvisor.”
This article was written in May of 2020. Soon thereafter the market exploded to new record highs. From May to now the NASDAQ has gone up 50%, making the corona virus panic little more than a blip.
Did he predict this huge increase or is he still sticking to his doom and gloom, which no doubt will eventually come.
He was right for five minutes and not for any reasons he gave - unless he also predicted the Wuhan virus.
Exactly right.
His prediction couldn’t have taken the Wuhan flu into
consideration, so it wasn’t an accurate prediction.
And of course, the market has recovered and was not a
lifetime event.
[It doesn’t take a genius to see that the policies
of this administration are going to crash this economy.]
True. However, those who voted for it will never figure it out. /preaching to the choir
[Beans and bullets will be more valuable than gold.]
And rice!
I heard the tail end of that interview. Thanks for posting.
The Fed Pump lasting longer than he expected?
I leave the rice to them. I find other things. 😁🤪
Rice and beans! Always a good meal!
I have plenty of rice but I need more beans. And vegetables.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.