Get your finances in order pedes. Harry Dent (who correctly called the dot-com bust, Trump election, etc) is sounding the alarm. A global market crash is impending, if /when it does it'll be harsh. Biden will attempt to print money to put it off again. Be prepared. China's going down.
(www.thinkadvisor.com)
🖕FUCK CHINA🖕
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Same sentiment in 2017 Some guys are perma bears.
.https://www.thinkadvisor.com/2017/11/30/biggest-crash-ever-is-probably-coming-by-2020-harry-dent/
That's the thing, it's been kicked down the road and we're at a point that it may not be able to be kicked any longer.
Several indicators are showing, forbearance in homes is up because the government is forcing landlords and banks into a moratorium on evictions. At some point that will be lifted and a lot of people are going to be out of their homes, inventory will skyrocket and prices will fall.
Also these shutdowns, the US government has given away 3 trillion in stimulus. That's about 27% of GDP and all they have to show for it is a couple of points in the stock market. Not to mention another couple trillion in covid relieve and related stuff. This cannot continue.
The stock market is way overvalued, PE ratios are completely out of whack. If things start to slide there's not much left to do, interest rates can't get much lower. The only thing left is to print money. Right now the only thing keeping things afloat is government stimulus, and this might be the last one.
I'm not an expert in finance or anything but if you look around, there's only one direction things can go from here.
Well, as long as you have your own reasons and not let confirmation bias from this guy cloud your judgement,that's fine. Dent is wrong so often, he's become a joke. You can look him up and see. He started a mutual fund which did so poorly, it went bankrupt. I have concerns about the market, but come to the conclusion that the uber rich, supposedly elite in this country and around the world will never let the market completely implode. It will get bailed out and helped along the way as much as is needed. The whole gamestop thing just solidified it in my opinion. Hedge fund managers were able to manipulate and break laws to keep them afloat. Nothing will ever happen to them. In the meantime, I'm trying to invest in companies with real earnings and high revenue.
The big thing in my mind is real estate, that's a real asset that costs real money that real people pay with their real paychecks every month.
And it's overvalued right now. Inventory is artificially low at the moment because the government is imposing rules that prevent kicking people out. There's over 3 million people out there late on their mortgages because of unemployment/pandemic reasons. Once these rules are lifted it could cause an influx of inventory and that'll cause prices to go down.
In my opinion, that's really healthy... but it's going to cause some pain. The market will feel it, and if the US market feels it the rest of the markets will feel it. We're in a market where nobody ever expects it to ever go down because it hasn't for years.
Here's a good explanation from someone smarter than me that I watched a few days ago. https://www.youtube.com/watch?v=ZFXObY99bXg
I know Harry goes overboard, he's going worst case... but he's not wrong that we've been printing money for too long and the longer we print money the worse the outcome will be.