Harry S. Dent Jr., "The Dean of Demographics," founder of harrydent.com joins the show from Puerto Rico (4% taxes and 0% capital gains!), says 2024 could be rocky for financial markets, mirroring the 2008 Great Recession.
- Is the US equities markets nearing a top?
- Why has the Russell 2000 index not registered the gains of the big cap indexes?
- Could 2024 be remembered for a stock market crash?
- The rate cuts of 2024 could take longer to positively impact the markets.
"What nobody gets, every time they raise rates or lower stimulate or tighten, it takes a year to year and a half for this to work into the economy...so we're already having this battle between the extreme stimulus from COVID-19 which they overdid beyond all compare in history and now the most extreme tightening since 1981, which led us into the greatest downturn, since the Great Depression, all we're seeing is the lag between these two. The F (fiscal) stimulus from COVID-19 is now starting to wear off and will wear off more and more."
- Will the Fed allow a recession in 2024, a Presidential Election Year?
- Gold is trending up and could continue higher for months, notes our guest.
- Demand from India and China could send the PMs soaring.
- Harry identifies a 90 year market bubble that seems to regularly impact nations."People think gold is the safe haven in the early stages like now, and gold is still trending up and I think it'll go higher in the next few months. But when things get really bad, as in 2008, even gold for a brief period of time went down 40% percent in late 2008. Gold would have been a good place to be in that downturn but treasury bonds went up 50% percent in those last few months and in those last few months and I think they're gonna double, they're literally gonna double this time. This is going to be a bigger downturn, which means I think gold could go back down to the $1000 give or take levels and then rally like crazy in the next decade."
The only thing that goes up consistently is the 10 and 30-year treasury bonds so that's where I want people to be right now. There is no diversification in portfolio – be in safe havens until we prove we're over this crash which already started in late 2021 and then you get back into global markets and stocks and gold.
Gold will do very well also because India is going to be the next big country to rise like China...and Indians value gold, more than any culture in history."
- Typical buy-and-hold investment strategies may require adjustment.
- Harry suggests 10 year US Treasury Bills and 30 year US Treasury Bonds as a safe haven.
- Visit www.hsdent.com
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About the author
Chris Waltzek is host, executive producer, writer/editor, best-selling author, webmaster, sound engineer and computer guru at Goldseek.com Radio. He earned his bachelors degree in Business Economics and holds a dual MBA in Business Economics & Information Systems. Upon graduation he worked as the firm-wide Industry Analyst at one of the nations largest law firms, Jones, Day, Reavis, Pogue. Chris is currently a Ph.D. student in Management / Finance at NCU.
