Across the United States, times are tough for a lot of people. As we all get closer to the end of the second quarter, our nation’s economy has much room for improvement. Many folks today are significantly worse off than they were even just six years ago.
Amid rising costs of living, Americans constantly need to scale back and take steps to stretch their dollars further. The series of job layoffs happening across the retail and restaurant industries aren’t helping matters either. Many people working in these positions require the income and having these streams abruptly cut off is enough to constitute a major catastrophe.
As everyday folks work to make ends meet, economic officials like Harry Dent are weighing in on inflation, the real estate market, and other critical factors that impact our country. Unfortunately, all signs seem to indicate that things will get worse before they get better.
Harry Dent Spills the Beans on America’s Future
Days ago, the economist sat down with Fox News Digital to discuss the current state of affairs in this nation. This is when he predicted a major crash in US tech stocks that have seen recent gains since the end of last month. What he had to say wasn’t at all comforting. In fact, this may be upsetting to Americans who have been eager to see the economy bounce back from inflation and unaffordable costs of living.
Harry Dent spoke at length about the “totally artificial bubble” in the United States that’s poised to burst sooner or later. It is his view that an economic downturn is all but inevitable. Driving the explosion, he believes, will be our country’s real estate market. A clear indicator of this, per the economist, is houses across the United States growing by at least two times more than their prospective value.
To this end, Harry Dent believes people with notable financial means are rushing to scoop up property on the real estate market for the sake of collateral amid a downturn. On the flip side, many folks who lack these financial resources are struggling to keep up with their mortgages and other homeownership expenses.
Some Americans who haven’t yet reached homeownership status don’t believe they ever will, due to its rising expenses. At the rate things are going, people are right to be concerned. The real estate market has gotten significantly more expensive, largely due to the growing costs of housing supplies and the strong demand for residential properties.
Another major factor that’s wounded this nation’s economy, according to Harry Dent, is the “flooding” of “extra money.” The economist told Fox News Digital that excessive money printing cannot prevent the current “artificial bubble” from bursting, yet is causing significant financial problems.
When the other shoe drops, Harry Dent believes our economy, real estate market, and tech stocks will look even worse than they did during 2008’s infamous crash. Naturally, the thought of this is quite chilling to Americans who are barely hanging on by a thread as it is. Unfortunately, the people who would be most vulnerable during such a crash have the least amount of resources to weather the storm.
Harry Dent Dismisses Backlash Over His Economic Predictions
Some folks who don’t like the economist’s projections of what’s to come have accused him of “fear-mongering” or making “crazy” statements. To this end, Harry Dent believes these people don’t know what they’re talking about. Furthermore, the economist told Fox News Digital that it doesn’t matter if certain individuals don’t like what he has to say.
Harry Dent pointed out that speaking the truth about the economy is more important than saying what makes people feel good. Following up, he noted that America’s present “artificial bubble” is greater in magnitude than bubbles before it. This is only just now becoming obvious as everyone catches onto the effects of central banks excessively printing money, thus watering down the value of the US dollar.
Despite the grave nature of his predictions, Harry Dent thinks the United States will ultimately survive another major crash. Touting our economy as the “largest in the world,” he let Fox News Digital know that the market would see various “excesses” flushed away and eventually even out.
If these predictions prove accurate, this means more Americans will lose their jobs, find themselves priced out of the real estate market, and otherwise struggle. Back in December, Harry Dent began advising people to prepare for downturns by withdrawing their money from the stock market and transferring it to Bitcoin.
Republicans Have Been Warning About This
For years, conservatives cautioned that pricey spending packages were not conducive to getting the economy back on track. Much of what Harry Dent spoke about has also been addressed by GOP lawmakers. These officials consistently warn of the dangerous consequences that can come from Democratic leaders driving more federal expenditures.
If the real estate market, tech stocks, and other parts of the economy do end up crashing, our leaders who recklessly spend taxpayer dollars won’t suffer the worst impacts. Instead, the people hit hardest will be everyday employees, small business owners, folks on fixed incomes, etc.
Before Harry Dent finished talking with Fox News Digital, he confirmed that the US government “created this bubble 100%.” The government did this “artificially” by printing money to inflate an economic “bubble” that’s highly likely to explode.
As we’re all painfully aware, Democrats are running the government right now. It is Democratic congress members and a Democratic president who repeatedly opt to send billions of dollars overseas. These officials have also shown no signs of slowing down or taking a more conservative approach to their fiscal decisions.
If Democrats maintain power after this upcoming election, Americans can expect business as usual to continue. There won’t be a sudden reduction in federal spending if fiscal leftists have the votes to continue on their current trajectory.
In November, every single American will have the opportunity to vote on which party controls Congress and the White House. Barring serious changes, Harry Dent’s predictions about the “crash of a lifetime” may barely scratch the surface of what’s to come.
What do you think about the fate of America’s economy?
