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Doom and gloom sells all sorts of stuff. Lot of gold which was supposed to sky rocket last few years but hasn't. Peter Schiff, Harry Dent, Mr. Faber, Rogers, North and I am sure a whole lot more. The crash of 2008 was rough but we survived. I knew a couple, retired, who lost every dime they saved thanks to a FINANCIAL ADVISER who was nowhere to be found and did not answer his calls. But, this couple survived thanks to social security and medicare. BTW, anyone who thinks congress is ever going to screw with these two systems is off the rails. They will butcher the defense department (a good idea) before messing with SS. Anyone wanting any sort of financial security will be getting out of debt as rapidly as they can. Debt is slavery of a sort.
gold needs a weak dollar . it has been pretty strong for years . it is no different than waiting a decade for higher interest rates , or the lost decade waiting for stocks to recover .
Specifically, he sees a crash in commercial and residential real estate as internet sales decimate brick-and-mortar stores, and as baby boomers age (downsize), retire, and die.
I get emails from him - he's been predicting a big RE downturn for a few years, but it was always several years out, as opposed to around the corner. The other day I got a pop-up notification with his latest, saying home prices could fall 50% soon - no longer several years out. (Didn't click on it fast enough to read the details.)
Why would anyone receive emails with predictions from Harry Dent given his track record?
- In 2000, based on his forecast that economic growth would continue throughout the 2000s, Dent predicted that the DOW would reach 40,000, a prediction which was repeated in his 2004 book. In his book, he also predicted the NASDAQ would reach 13,000 – 20,000.
- His 2011 book goes on to suggest consumer spending will begin to plummet in 2012 with the Dow bottoming out somewhere between 3,000 and 5,600 in 2014.
- In 2012 the "Dent Tactical Advantage ETF," symbol DENT, was de-listed having consistently under-performed the market for three years while at the same time charging an egregiously high 1.65% management fee
- In 2012, he began writing weekly articles for the free investment newsletter Survive & prosper, now known as: Economy & Markets, which offers investment advice guided by his belief that a major economic crash is inevitable and that it will drop the DOW all the way to 3,300. As of early 2013, he has amended his predictions slightly to an expectation that the financial crash will begin between the end of 2013 and the first half of 2014
- On December 10, 2016, Dent predicted that the Dow Jones Industrial average could fall 17,000 points as a result of Donald Trump's election win.
Meh. I'm going by my own instincts, not some shill like Harry Dent.
Like everybody else, I enjoyed the market run-up since 2009. I took my profit in early Q2 and I'm sitting on the sidelines waiting for the next opportunity. Other than the internet stocks, the market has been going sideways since January 26th. We'll have a recession and a market correction at some point. I want to be buying when the herd is selling.
so lets say it is 2008 again and we are down 2000 points , what do you do ? is it that buying opportunity or the beginning of a plunge of 4000 points more ? that is the problem thinking you will be that guy with the cash we all envisioned being at one time or another
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Bit late... (on the 'prediction' of internet erosion / housing collapse)
Harry was being Rip Van Winkle (as usual) or he would have realized he MISSED this prediction (10 yrs ago). Obviously he did not own commercial property when the banks were calling everything due! (or he would not have forgotten a mere 10 yrs ago.
Of (3) things you can be sure
1) there will be another collapse (some day)
2) it will be different than ALL others
3) Harry (RIP) will miss it. (before and after)
psst... I think he is sleeping. (quiet!)
Seems to me- down at the bottom of webpages where doctors are always astonished and where I can find all the weird tricks I need- Harry Dent was always predicting a financial collapse.
Now if he ever STOPS predicting a financial collapse, maybe- just maybe- that will be news.
Safe predictions:
[] Taxes will increase, overt and covert
[] Public debt will increase, as will the debt service
[] Recipients will vote for candidates that promise to bribe them with more
[] Donors will be outvoted
[] Inflation will continue, unabated
[] Fuel costs will go up
[] Food costs will go up
. . .
At some point, "something" will snap, break, stop working, shut down, riot, or otherwise drastically change.
If you're self sufficient, self reliant, have an autonomous domicile, tax exempt and not dependent on their funny munny system, you're probably going to do well.
I seem to recall the same sense of denial being broadcast loud and clearly pre the last GFC. To which we are still paying the price for and one wonders how much was learnt.
Low interest rates being the most obvious on going result, which has created an international asset bubble.
Just as long as the banks take responsibility this time around and don't expect to socialise losses and act as responsible corporate citizens fine.
Harry Dent does what Harry Dent does. Nothing bad about having someone in the background reminding people of possible consequences. One doesn't have to like or approve of him to find accord with warnings and other perspectives being aired.
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