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Over $100 Trillion in Wealth Will Disappear – Harry Dent

Sunday, April 19, 2015 17:43

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(Before It's News)

TND Videocast Spotlight: Greg Hunter’s USAWatchdog.com

Best-selling author Harry Dent says the stock bubble we have today is the biggest in history. Dent contends, “Now we’re in a third bubble, and each of these bubbles peaks at higher highs, and then they each crash to lower lows. We’ve been looking for the Dow to peak right around here between 17,000 and 19,000. So, we are right in the middle. We are looking for an even bigger correction likely in late 2016 to 2017. This whole thing has been in an artificial bubble. . . . We’d be in a depression right now if it were not for $11 trillion or $12 trillion free money printed out of nowhere. So, this is an artificial environment, and this has never happened before. The charts look to me that we are at a top, or after a 20% correction, a top later this year.”

Dent goes on to say, “I think the crash is finally going to start this year, but it will be at its worst in late 2016 early 2017. . . . I expect new lows on the Dow, and I think it will go to 5,500 or 6,000 in this next crash.”

Dent thinks deflation is what’s coming, not hyper-inflation. Dent predicts, “When debt is restructured and financial asset bubbles burst, you are destroying. I’m estimating over $100 trillion in wealth will disappear. When you create money by magic and QE and bank loans, it can disappear like magic. Now you see it, now you don’t. When that money disappears, there’s fewer dollars chasing the same goods. That’s deflation, and gold is not going to like that.”

Click here to read the rest of Greg Hunter’s write-up and to access the active comment section.

After the Interview:

Harry Dent has lots of articles and a newsletter you can get for free by going to HarryDent.com.

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About Greg Hunter:

Mr. Hunter is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. Greg Hunter’s USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows. Greg encurages feedback and welcomes comments. You may also support USAWatchdog.com by clicking here to donate. Reprinted with permission.