Harry S. Dent Jr. & Chris Waltzek Ph.D. (Podcast)
Harry S. Dent Jr. & Chris Waltzek Ph.D. Podcast Radio Gold Seek
Harry S. Dent Jr., the Author of Zero Hour and Editor of Economy and Markets newsletter – link to FREE newsletter, rejoins the show with his insights on the financial markets. Gold, silver and related shares appear appear to be building a solid base for an advance as well as cryptos where Bitcoin could ascend to $25,000 with the important proviso, support at $3,000 must hold firm. Nevertheless, the Blockchain concept will thrive as the backbone of the new Internet 2.0, with profound implications for virtually every aspect of life, including entertainment, employment, banking, finance, education, healthcare, insurance, voting security and government. The decentralized peer-to-peer, transparent, blockchain based currency model will inevitably, in time, overturn the opaque and highly regulated fiat model.
The duo agree that the worst of the US stock market correction appears to be in the rearview mirror at least until the Fed wraps-up the rate hike cycle in mid-2019. Next year could mark the ultimate zenith for US equities as the current price “Bubble” culminates with the Dow Jones Industrials topping 30,000, resembling the 1920’s rally; in similar fashion, the resulting price crash could resemble the -89% drop in ’30-’33, if projections come to pass. The bubble parallel extends to the ominous Dot.com peak of 2000 where trade tariffs and immigration issues may have contributed to the abrupt declines.
Keeping with the bubble theme, current markets have ascended beyond the realm of normalcy, including global real estate, stocks, and commodities. Turning to demographic trends impacting the markets; key Baby Boomers, a group that comprise 50% of spending, will soon curtail purchases, potentially hampering GDP growth, significantly. The net affect could be years of slowing domestic economic output, further burdening the already challenged system where over half of US households require Federal assistance.