Economic expert and best-selling author Harry Dent has issued a warning that the biggest crash of our lifetime is likely to occur between now and mid-June. He forecasts that the S&P 500 will decrease by up to 86%, the Nasdaq by up to 92%, and that Bitcoin would decline by 95% to 96% from its November 2021 high. The Nasdaq fell 38% in October of last year, despite his frequent warnings about the greatest disaster. According to Dent, the latest meltdown resulted from central banks making war against recession. The economy still has to get rid of bad loans and dead enterprises notwithstanding enormous money printing.
He emphasized that the Federal Reserve will be powerless to halt the third wave because of the enormous debts and overvaluations left over from the biggest financial asset bubble in history, which they have yet to address. Dent suggested that the Federal Reserve has to “tighten strong” because it has overstimulated the economy.
He asserted that what initially appears to be a correction will actually be a crash, down 86% on the S&P 500, more akin to 1929 to 1932. He added that timing the market is crucial because the third wave of the third wave is anticipated to arrive between now and mid-June.
