After the Roaring '20s came the Great Depression. After the Roaring 2000s came the Great Recession.
We're now entering the winter season of the 80-year four season economic cycle. It's during this season that we'll clear the decks with a devastating crash and debilitating deflation. The economy and markets will shed the excesses created during the preceding fall bubble boom season and prepare the soil for new blossoming in innovation and a spring boom.
After the blustering bull market of 2009-2015, we are now preparing for a shakeout more painful than anything we've seen before. We have eight years of unprecedented government stimulus and money creation to thank for stretching this bubble beyond imagination and making the burst more painful than anything we've ever experienced.
There's no better guide to financial cycles than Harry S. Dent Jr., the best-selling author of The Demographic Cliff and many other books, and the editor of the Boom & Bust newsletter. For more than 30 years he has earned a reputation for eerily accurate predictions about the world economy and the financial markets.
Now Dent has an urgent new warning about the next crisis. The consequences will be devastating - but there's a bright side that he's calling "the sale of a lifetime". For anyone who heeds the signs and follows Dent's advice, the looming correction is a once-in-a-century opportunity to gather immense wealth.
In this pressing audiobook, you'll learn not only why a collapse is imminent, but how to identify bubbles and tune in to the cycles driving that drive booms and busts.
Practical, accessible, and illuminating, The Sale of a Lifetime will protect you from the tough challenges ahead and help you cash in on the unique opportunities of the next few years. At stake is nothing less than your entire financial future.
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Harry Dent Loves Him Some Harry Dent
Self-love is much easier if you pretend that your past failings, um, never happened. Remember Dow 40,000? Just Google HD to find out how accurate he has been. Dent is a pure salesman. Nothing wrong with that, just don't confuse him with someone who can accurately predict the future. That being said, I agree with much of what Dent says in this book. Based purely on the massive amount of public and private debt we are heading for a worldwide, systemic shake-out. Get out of the market? Yes. Position yourself in cash? Agree. Avoid gold like the plague? (Dent predicted gold at $250 by 2011 I believe). Dent has a simplistic, binary view of gold. Inflation=gold goes up. Deflation=gold crashes. Gold is also a hedge against instability and crises of confidence. And recently it has performed well in deflationary cycles. Also, the gold price is based largely on the paper price. If we reach a point where people/institutions start demanding delivery in large enough numbers I'm betting the the paper and physical markets will decouple. Gold is the ultimate bet against the Fed/IMF/Goldman Sachs system. Goldman Sachs knows this and has been buying physical gold. How about buy government/corporate bonds? I just feel that Dent is wrong on this but I have no data to back it up. Also, Dent is basically a demographics guy. Confusingly, he waits until chapter 13 to tell you that, by the way, he and he alone believes that the baby boom generation began around 1931 and not 1945. And most of his predictions are based on the fact the millennials don't exist in large enough numbers to take over the consumption duties of the BBs. But he never even addresses, or mentions, Gen X. Very odd. Just remember: Harry Dent can remain irrational much longer that you can remain liquid.
- mike "mf59"