This US economist recently issued a warning, predicting the “biggest crash of our lifetime” in 2024, with an astounding 86% decline in the S&P 500. This is the one and only location he can hide.

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Prior to losing your retirement savings, make an investment in this solid asset since the US currency has lost 87% of its purchasing value since 1971.

Dent told Fox News Digital, “I think 2024 is going to be the biggest single crash year we’ll see in our lifetimes.”

Although the stock market is prone to volatility, Dent’s prediction goes above and beyond

I’m telling you this once: pay no attention to your financial advisor. It is not going to be business as usual in a few years. We might never witness these heights once more,” he said. Furthermore, there won’t be a repair for this crash. It will primarily be in the ’29 to ’32 range. And their stockbroker would have been shot by anyone who had to sit through it.

How large will the crash be then?

Jing Pan
Wednesday, December 20, 2023, 11:00 p.m. GMT+5:30 read in 4 minutes
This US economist recently issued a warning, predicting the “biggest crash of our lifetime” in 2024, with an astounding 86% decline in the S&P 500. This is the one and only location he can hide.
This US economist recently issued a warning, predicting the “biggest crash of our lifetime” in 2024, with an astounding 86% decline in the S&P 500. This is the one and only location he can hide.
Those who have stayed in the stock market have cause for celebration as 2023 comes to an end. The tech-heavy Nasdaq has soared 44%, the Dow has gained 13%, and the S&P 500 has increased 25% year to date.

But economist Harry Dent sees a very different picture for

A significant decline in the S&P 500 might have disastrous consequences because of the broad exposure to the stock market that many individuals have due to their retirement funds. Amidst the 2022 market sell-off, which is insignificant compared to Dent’s forecasts, CBS News revealed that members in 401(k) and IRA plans suffered an approximate loss of $3 trillion.

The analyst predicts that real estate will return to its “2012 lows.”

“That represents a 50% decline for the typical home, which fell 34% during the previous crash — higher than during the Great Depression, higher than at any other point in history,” he stated. “People are going to be most hurt by that.

If you believe the markets are headed for a crash of historic proportions, you probably wouldn’t want to stay invested through that downturn. “If I’m right, it is going to be the biggest crash of our lifetime, most of it happening in 2024,” Dent explained. “So if you just get out for six to 12 months and stuff stays at the highest

valuation in history, maybe you miss a little more gains if I’m wrong. If I’m right, you’re going to save massive losses and be able to reinvest a year or year and a half from now at unbelievably low prices and magnify your gains beyond compare.” Known for being a contrarian thinker, Dent has made similar predictions before. Given these alarming forecasts, investors are likely seeking a safe haven.

Continue reading: Warren Buffett reveals the “best investment” you can make to combat inflation since “it’s not taxed at all.”

In an interview with ThinkAdvisor from October, Dent discussed his thoughts on the safest investment: Treasury bonds are the safe refuge; some claim that gold will become the real money. The United States is the best house in a difficult economy, even during a slump.

Now, bear in mind that Wall Street doesn’t seem to share much of Dent’s anxiety, so hold off on selling your entire stock portfolio and loading up on Treasury bonds instead.

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This is not intended to be advice; it is merely informational. It is offered with no warranties expressed or implied.

For example, Goldman Sachs recently increased the S&P 500’s 2024 price estimate to 5,100.

With the benchmark index at 4,770 right now, the price goal suggests a 7% possible gain.

Interest rates are one of the factors driving Goldman’s positive outlook. As of right present, the investment bank projects five rate reductions by the Fed in 2024.

“Stocks with weaker balance sheets should benefit from resilient growth and falling rates,”

Stocks with weaker balance sheets, especially those that are vulnerable to economic growth, can benefit from resilient growth and declining rates, according to David Kostin, chief U.S. equity strategist at Goldman Sachs.

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