Economist Harry Dent told Fox News digital that his earlier prediction that the U.S. is going to face the stock market “crash of a lifetime” still stands, adding the “everything” bubble hasn’t yet burst and it could be worse than 2008’s Great Recession.
“In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se,” Dent said. “So this is new. This has never happened. What do you do if you want to cure a hangover? You drink more. And that’s what they’ve been doing.”
He commented that most bubbles go five to six years, but this one has been ongoing for 14 years. “So you’d have to expect a bigger crash than we got in 2008 to ’09,” Dent said.
The economist and author predicted that S&P will drop 86% from the top, while Nasdaq will decrease 92%. Even stock market darling Nvidia won’t be immune, with Dent saying it will drop 98%.
