via NYP:
As the clock ticks closer to 2024, one outspoken economist is making a dire prediction about the markets in the new year.
“Since 2009, this has been 100% artificial, unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. This is off the charts, 100% artificial, which means we’re in a dangerous state,” Harry Dent told Fox News Digital.
“I think 2024 is going to be the biggest single crash year we’ll see in our lifetimes.”
“I’m the guy that’s praying for a crash while everybody else is not. We need to get back down to normal, and we need to send a message to central banks,” he continued.
“This should be a lesson I don’t think we’ll ever revisit. I don’t think we’ll ever see a bubble for any of our lifetimes again.”
Dent, who spent the majority of his career analyzing proprietary research, credited his against-the-grain prediction to overvalued markets and excessive stimulus spending.
While recent rallies have overwhelmingly provided investors with mild recession expectations, Dent remained firm that an “everything bubble” will burst next year.
Historically, market bubbles are characterized by a rapid rise in stock prices, before being met by a sharp fall.