All language subtitles for Your wealth will ‘disappear’ by June as final crash wipes out stocks real estate says Harry Dent en

we won't see this again we will not see

we won't see this again we will not see
a bubble economy for for our kids will

a bubble economy for for our kids will

a bubble economy for for our kids will
probably not even see a bubble economy

probably not even see a bubble economy

probably not even see a bubble economy
decades and decades from now it happens

decades and decades from now it happens

decades and decades from now it happens
once in a lifetime at most and this is

once in a lifetime at most and this is

once in a lifetime at most and this is
the bubble of Our Lifetime right now

the bubble of Our Lifetime right now

the bubble of Our Lifetime right now
this is the bubble of our lifetime and

this is the bubble of our lifetime and

this is the bubble of our lifetime and
bigger than either the 1837 Peak or the

bigger than either the 1837 Peak or the

bigger than either the 1837 Peak or the
29 Peak this is going to be the biggest

29 Peak this is going to be the biggest

29 Peak this is going to be the biggest
crisis in the baby boomers life the

crisis in the baby boomers life the

crisis in the baby boomers life the
biggest crisis of the Bob Hope

biggest crisis of the Bob Hope

biggest crisis of the Bob Hope
generation was the Great Depression this

generation was the Great Depression this

generation was the Great Depression this
is going to be the big crisis the the

is going to be the big crisis the the

is going to be the big crisis the the
final kind of depression into this is

final kind of depression into this is

final kind of depression into this is
going to hit the Baby Boomers the

going to hit the Baby Boomers the

going to hit the Baby Boomers the
hardest because they're going to need

hardest because they're going to need

hardest because they're going to need
that net worth that's going to disappear

that net worth that's going to disappear

that net worth that's going to disappear
at the speed of light and I mean

at the speed of light and I mean

at the speed of light and I mean
disappear not come back our next guest

disappear not come back our next guest

disappear not come back our next guest
is calling for possibly the largest

is calling for possibly the largest

is calling for possibly the largest
crash in our lifetime in the markets why

crash in our lifetime in the markets why

crash in our lifetime in the markets why
is this happening where are we in the

is this happening where are we in the

is this happening where are we in the
multi-wave cycle Harry Dent has the

multi-wave cycle Harry Dent has the

multi-wave cycle Harry Dent has the
answers he is the founder of HS dent and

answers he is the founder of HS dent and

answers he is the founder of HS dent and
the author of several best-selling books

the author of several best-selling books

the author of several best-selling books
including zero hour turn the greatest

including zero hour turn the greatest

including zero hour turn the greatest
political and financial upheaval in

political and financial upheaval in

political and financial upheaval in
modern history to your advantage and the

modern history to your advantage and the

modern history to your advantage and the
demographic Cliff how to survive and

demographic Cliff how to survive and

demographic Cliff how to survive and
prosper during the Great deflation ahead

prosper during the Great deflation ahead

prosper during the Great deflation ahead
Harry wonderful titles you've written

Harry wonderful titles you've written

Harry wonderful titles you've written
wonderful books everyone should check

wonderful books everyone should check

wonderful books everyone should check
out your site hsdeck or Harry den.com

out your site hsdeck or Harry den.com

out your site hsdeck or Harry den.com
rather in your newsletter welcome to my

rather in your newsletter welcome to my

rather in your newsletter welcome to my
show nice to be back Dave you're calling

show nice to be back Dave you're calling

show nice to be back Dave you're calling
for possibly the greatest crash in our

for possibly the greatest crash in our

for possibly the greatest crash in our
lifetime we already had a pretty big

lifetime we already had a pretty big

lifetime we already had a pretty big
downturn last year the S P 500 was down

downturn last year the S P 500 was down

downturn last year the S P 500 was down
18 percent year on year but that's not

18 percent year on year but that's not

18 percent year on year but that's not
it that's not the crash you're talking

it that's not the crash you're talking

it that's not the crash you're talking
about

about

about
right and in the 2008-9 crash was 57 on

right and in the 2008-9 crash was 57 on

right and in the 2008-9 crash was 57 on
the S P 500 so so yes no this this is

the S P 500 so so yes no this this is

the S P 500 so so yes no this this is
basically what that crash should have

basically what that crash should have

basically what that crash should have
been people didn't notice it's pretty

been people didn't notice it's pretty

been people didn't notice it's pretty
obvious about how about a year and a

obvious about how about a year and a

obvious about how about a year and a
half into that crash the central banks

half into that crash the central banks

half into that crash the central banks
just stepped in and just just started

just stepped in and just just started

just stepped in and just just started
printing money uh unprecedented rates to

printing money uh unprecedented rates to

printing money uh unprecedented rates to
blow us out of that that's what

blow us out of that that's what

blow us out of that that's what
basically happened so that recession

basically happened so that recession

basically happened so that recession
didn't really do its job of flushing out

didn't really do its job of flushing out

didn't really do its job of flushing out
the greatest debt bubble in history

the greatest debt bubble in history

the greatest debt bubble in history
which I've been warning about for years

which I've been warning about for years

which I've been warning about for years
and decades uh bigger than the Roaring

and decades uh bigger than the Roaring

and decades uh bigger than the Roaring
20s which ended up in a bubble in the

20s which ended up in a bubble in the

20s which ended up in a bubble in the
stock markets and the the crash of a

stock markets and the the crash of a

stock markets and the the crash of a
lifetime back then now down 89 for the

lifetime back then now down 89 for the

lifetime back then now down 89 for the
Dow which was the leading index back

Dow which was the leading index back

Dow which was the leading index back
then I'm predicting as much as 86 for

then I'm predicting as much as 86 for

then I'm predicting as much as 86 for
the S P 500 in this crash and 92 percent

the S P 500 in this crash and 92 percent

the S P 500 in this crash and 92 percent
on the NASDAQ so in that realm of

on the NASDAQ so in that realm of

on the NASDAQ so in that realm of
something you only literally see why

something you only literally see why

something you only literally see why
once in a lifetime if that so so this is

once in a lifetime if that so so this is

once in a lifetime if that so so this is
nothing this is what my point is most

nothing this is what my point is most

nothing this is what my point is most
financial advisors are right most the

financial advisors are right most the

financial advisors are right most the
time you can just sit through most

time you can just sit through most

time you can just sit through most
Corrections and rebalance and that sort

Corrections and rebalance and that sort

Corrections and rebalance and that sort
of stuff because it's not easy to time

of stuff because it's not easy to time

of stuff because it's not easy to time
the market as most people know okay but

the market as most people know okay but

the market as most people know okay but
but this is so important that I Am

but this is so important that I Am

but this is so important that I Am
timing the market I have I warned about

timing the market I have I warned about

timing the market I have I warned about
this in my newsletter off the charts two

this in my newsletter off the charts two

this in my newsletter off the charts two
huge warnings in mid and late December

huge warnings in mid and late December

huge warnings in mid and late December
saying this crash is about to happen it

saying this crash is about to happen it

saying this crash is about to happen it
is going to be the crash of your

is going to be the crash of your

is going to be the crash of your
lifetime and next thing you know we were

lifetime and next thing you know we were

lifetime and next thing you know we were
down 38 percent uh in the NASDAQ uh in

down 38 percent uh in the NASDAQ uh in

down 38 percent uh in the NASDAQ uh in
in October of last year and that's just

in October of last year and that's just

in October of last year and that's just
the first wave down there's two more to

the first wave down there's two more to

the first wave down there's two more to
follow and I think we're just about to

follow and I think we're just about to

follow and I think we're just about to
see or we're we've already started the

see or we're we've already started the

see or we're we've already started the
next wave down which could take the

next wave down which could take the

next wave down which could take the
NASDAQ down to 8 000 just in this next

NASDAQ down to 8 000 just in this next

NASDAQ down to 8 000 just in this next
wave not not the end of it and that's

wave not not the end of it and that's

wave not not the end of it and that's
going to be down a little over 50 and

going to be down a little over 50 and

going to be down a little over 50 and
that's when people are going to know

that's when people are going to know

that's when people are going to know
this is is not a big correction it is a

this is is not a big correction it is a

this is is not a big correction it is a
major crash one that you have not seen

major crash one that you have not seen

major crash one that you have not seen
in 7374 or 8082 in your lifetime and one

in 7374 or 8082 in your lifetime and one

in 7374 or 8082 in your lifetime and one
that even the Millennials will not see a

that even the Millennials will not see a

that even the Millennials will not see a
bigger crash than this when their boom

bigger crash than this when their boom

bigger crash than this when their boom
and bust hits many decades from now I

and bust hits many decades from now I

and bust hits many decades from now I
remember the first time I talked to you

remember the first time I talked to you

remember the first time I talked to you
was late 2020 and you had predicted that

was late 2020 and you had predicted that

was late 2020 and you had predicted that
we would begin this crash I think it was

we would begin this crash I think it was

we would begin this crash I think it was
first or second wave and eventually it

first or second wave and eventually it

first or second wave and eventually it
did come you were correct in that 2022

did come you were correct in that 2022

did come you were correct in that 2022
last year saw the stock markets and

last year saw the stock markets and

last year saw the stock markets and
cryptocurrencies all crash uh not to the

cryptocurrencies all crash uh not to the

cryptocurrencies all crash uh not to the
extent of 50 but actually 2022 was the

extent of 50 but actually 2022 was the

extent of 50 but actually 2022 was the
most severe crash for stocks and bonds

most severe crash for stocks and bonds

most severe crash for stocks and bonds
collectively if you put them together as

collectively if you put them together as

collectively if you put them together as
a percentage of GDP so in that regard

a percentage of GDP so in that regard

a percentage of GDP so in that regard
you were correct however it did happen

you were correct however it did happen

you were correct however it did happen
later than you initially anticipated why

later than you initially anticipated why

later than you initially anticipated why
why did it happen later you think that's

why did it happen later you think that's

why did it happen later you think that's
extremely extremely simple never before

extremely extremely simple never before

extremely extremely simple never before
look at the Great Depression look at any

look at the Great Depression look at any

look at the Great Depression look at any
major downturn the mid 70s never before

major downturn the mid 70s never before

major downturn the mid 70s never before
have central banks declared War literal

have central banks declared War literal

have central banks declared War literal
war on recessions and said we will not

war on recessions and said we will not

war on recessions and said we will not
let the economy fall Mario Dragon was

let the economy fall Mario Dragon was

let the economy fall Mario Dragon was
the first one to say he said to traders

the first one to say he said to traders

the first one to say he said to traders
who were shorting the European markets

who were shorting the European markets

who were shorting the European markets
back there in in 2020 when we should

back there in in 2020 when we should

back there in in 2020 when we should
have had The Real Crash started okay he

have had The Real Crash started okay he

have had The Real Crash started okay he
said I will print unlimited amounts of

said I will print unlimited amounts of

said I will print unlimited amounts of
money do not bet against me you damn

money do not bet against me you damn

money do not bet against me you damn
Traders and that's what they've done

Traders and that's what they've done

Traders and that's what they've done
they have pushed this off but even with

they have pushed this off but even with

they have pushed this off but even with
all this unprecedented nine trillion

all this unprecedented nine trillion

all this unprecedented nine trillion
dollars for the FED alone and money

dollars for the FED alone and money

dollars for the FED alone and money
printing never have we seen even a

printing never have we seen even a

printing never have we seen even a
fraction of that okay even with all that

fraction of that okay even with all that

fraction of that okay even with all that
we keep falling back in a recession we

we keep falling back in a recession we

we keep falling back in a recession we
just came we just came out of the covet

just came we just came out of the covet

just came we just came out of the covet
down and with all this massive stimulus

down and with all this massive stimulus

down and with all this massive stimulus
10 trillion dollars half of it fiscal

10 trillion dollars half of it fiscal

10 trillion dollars half of it fiscal
half of it monetary the biggest single

half of it monetary the biggest single

half of it monetary the biggest single
two-year stimulus in all of history

two-year stimulus in all of history

two-year stimulus in all of history
topping everything before that and we're

topping everything before that and we're

topping everything before that and we're
already falling in a recession again

already falling in a recession again

already falling in a recession again
that's the problem the economy

that's the problem the economy

that's the problem the economy
underneath is really really weak and

underneath is really really weak and

underneath is really really weak and
really needs to get rid of a lot of

really needs to get rid of a lot of

really needs to get rid of a lot of
really bad debt and zombie companies and

really bad debt and zombie companies and

really bad debt and zombie companies and
the central banks won't let the economy

the central banks won't let the economy

the central banks won't let the economy
do its thing oh we're free market

do its thing oh we're free market

do its thing oh we're free market
capitalists no we're not

capitalists no we're not

capitalists no we're not
be trusted the free markets you'd let

be trusted the free markets you'd let

be trusted the free markets you'd let
the free markets do what they do and

the free markets do what they do and

the free markets do what they do and
central banks have declared war on the

central banks have declared war on the

central banks have declared war on the
free markets that's the problem and the

free markets that's the problem and the

free markets that's the problem and the
free markets thank God look like they're

free markets thank God look like they're

free markets thank God look like they're
going to win this I'm I've been

going to win this I'm I've been

going to win this I'm I've been
threatening to my subscribers saying you

threatening to my subscribers saying you

threatening to my subscribers saying you
know I don't know if we'll ever have

know I don't know if we'll ever have

know I don't know if we'll ever have
free markets again I mean this may never

free markets again I mean this may never

free markets again I mean this may never
end if the economy gets its way and we

end if the economy gets its way and we

end if the economy gets its way and we
have this crash it means the markets

have this crash it means the markets

have this crash it means the markets
have taken back over they're going to do

have taken back over they're going to do

have taken back over they're going to do
what the economy really needs and not

what the economy really needs and not

what the economy really needs and not
listen to stupid Central Bankers who

listen to stupid Central Bankers who

listen to stupid Central Bankers who
never had sex or run a business find me

never had sex or run a business find me

never had sex or run a business find me
one that meets either those two

one that meets either those two

one that meets either those two
definitions or looks like it

definitions or looks like it

definitions or looks like it
what are these people doing in charge in

what are these people doing in charge in

what are these people doing in charge in
the first place okay so that's that's

the first place okay so that's that's

the first place okay so that's that's
what I see the economy looks like and

what I see the economy looks like and

what I see the economy looks like and
this this that's why we're in a critical

this this that's why we're in a critical

this this that's why we're in a critical
point right now the economy is set by

point right now the economy is set by

point right now the economy is set by
looking at the waves and I've spent

looking at the waves and I've spent

looking at the waves and I've spent
years and years studying what I call

years and years studying what I call

years and years studying what I call
Elliott weight Theory brought by Robert

Elliott weight Theory brought by Robert

Elliott weight Theory brought by Robert
Proctor he's another good guy to

Proctor he's another good guy to

Proctor he's another good guy to
interview by the way

interview by the way

interview by the way
um that this we're about to hit this

um that this we're about to hit this

um that this we're about to hit this
third wave of the third wave would you

third wave of the third wave would you

third wave of the third wave would you
win you basically the crash gets its

win you basically the crash gets its

win you basically the crash gets its
most momentum if that happens if they

most momentum if that happens if they

most momentum if that happens if they
can't stop this and I I don't think

can't stop this and I I don't think

can't stop this and I I don't think
they're going to be able to stop I think

they're going to be able to stop I think

they're going to be able to stop I think
it's going to creep up on them before

it's going to creep up on them before

it's going to creep up on them before
they can reverse their tightening that's

they can reverse their tightening that's

they can reverse their tightening that's
what what shows people uh oh no these

what what shows people uh oh no these

what what shows people uh oh no these
guys do not have control of the economy

guys do not have control of the economy

guys do not have control of the economy
they're not able to stop this crash and

they're not able to stop this crash and

they're not able to stop this crash and
then they lose credibility I want to

then they lose credibility I want to

then they lose credibility I want to
come back to this crash and your timing

come back to this crash and your timing

come back to this crash and your timing
for this crash you're gonna you're gonna

for this crash you're gonna you're gonna

for this crash you're gonna you're gonna
tell us exactly when you think this is

tell us exactly when you think this is

tell us exactly when you think this is
going to bottom but first I want to talk

going to bottom but first I want to talk

going to bottom but first I want to talk
to you uh or talk to the audience about

to you uh or talk to the audience about

to you uh or talk to the audience about
um your your views on our uh demographic

um your your views on our uh demographic

um your your views on our uh demographic
Trends now remember that Harry wasn't

Trends now remember that Harry wasn't

Trends now remember that Harry wasn't
always bearish in fact you were very

always bearish in fact you were very

always bearish in fact you were very
very bullish on our economy and our

very bullish on our economy and our

very bullish on our economy and our
growth prospects I'm talking about the

growth prospects I'm talking about the

growth prospects I'm talking about the
US in the 80s and then something shifted

US in the 80s and then something shifted

US in the 80s and then something shifted
and then you changed your outlook what

and then you changed your outlook what

and then you changed your outlook what
what shifted Harry okay it's just

what shifted Harry okay it's just

what shifted Harry okay it's just
demographics I I was the one I was

demographics I I was the one I was

demographics I I was the one I was
studying demographics for my new Venture

studying demographics for my new Venture

studying demographics for my new Venture
clients and in the early 80s I was

clients and in the early 80s I was

clients and in the early 80s I was
managing and turning around small

managing and turning around small

managing and turning around small
businesses new Ventures and new

businesses new Ventures and new

businesses new Ventures and new
Industries so I was seeing the new

Industries so I was seeing the new

Industries so I was seeing the new
economy emerging in the early stages and

economy emerging in the early stages and

economy emerging in the early stages and
I was seeing most importantly these

I was seeing most importantly these

I was seeing most importantly these
people were not selling Goods to aging

people were not selling Goods to aging

people were not selling Goods to aging
Bob Hope generation people they were

Bob Hope generation people they were

Bob Hope generation people they were
selling back then to young baby boomers

selling back then to young baby boomers

selling back then to young baby boomers
so that's when I started studying the

so that's when I started studying the

so that's when I started studying the
baby boom how big a generation is when

baby boom how big a generation is when

baby boom how big a generation is when
do they spend money how they can impact

do they spend money how they can impact

do they spend money how they can impact
the economy and of course the first

the economy and of course the first

the economy and of course the first
indicator I came out out with in 1988

indicator I came out out with in 1988

indicator I came out out with in 1988
was called the spending wave and here's

was called the spending wave and here's

was called the spending wave and here's
how simple it was David a 46-year lag on

how simple it was David a 46-year lag on

how simple it was David a 46-year lag on
the birth index which I adjust for

the birth index which I adjust for

the birth index which I adjust for
immigrants and I can do that accurately

immigrants and I can do that accurately

immigrants and I can do that accurately
I've got accurate statistics on the age

I've got accurate statistics on the age

I've got accurate statistics on the age
of immigrants and how many have come in

of immigrants and how many have come in

of immigrants and how many have come in
and how many have projected to uh and

and how many have projected to uh and

and how many have projected to uh and
and it said greatest boom in history

and it said greatest boom in history

and it said greatest boom in history
until 2007 and and and and what happened

until 2007 and and and and what happened

until 2007 and and and and what happened
after 2007 we hit 2008 the deepest

after 2007 we hit 2008 the deepest

after 2007 we hit 2008 the deepest
downturn since the Great Depression

downturn since the Great Depression

downturn since the Great Depression
since 1930 and central banks panicked

since 1930 and central banks panicked

since 1930 and central banks panicked
and have been printing money ever since

and have been printing money ever since

and have been printing money ever since
to offset this great downturn they don't

to offset this great downturn they don't

to offset this great downturn they don't
understand what's happening I predicted

understand what's happening I predicted

understand what's happening I predicted
this would happen decades although in

this would happen decades although in

this would happen decades although in
the 80s I wasn't just predicting the

the 80s I wasn't just predicting the

the 80s I wasn't just predicting the
boom I was saying 2008 through

boom I was saying 2008 through

boom I was saying 2008 through
2022-23 would be a week period in

2022-23 would be a week period in

2022-23 would be a week period in
between generational spending cycles and

between generational spending cycles and

between generational spending cycles and
particularly wheat because the baby boom

particularly wheat because the baby boom

particularly wheat because the baby boom
was such a large generation to Peak and

was such a large generation to Peak and

was such a large generation to Peak and
crash and that's why these guys they

crash and that's why these guys they

crash and that's why these guys they
thought they were just going to print

thought they were just going to print

thought they were just going to print
some money in 2009 and be done in a year

some money in 2009 and be done in a year

some money in 2009 and be done in a year
they've been printing ever since

they've been printing ever since

they've been printing ever since
unprecedented I think it's up to nine

unprecedented I think it's up to nine

unprecedented I think it's up to nine
trillion dollars now they've had to

trillion dollars now they've had to

trillion dollars now they've had to
print unprecedent amount of money

print unprecedent amount of money

print unprecedent amount of money
because the the downward demographic

because the the downward demographic

because the the downward demographic
forces are that strong and they actually

forces are that strong and they actually

forces are that strong and they actually
do turn up around

do turn up around

do turn up around
2024-25 but they've kind of pushed this

2024-25 but they've kind of pushed this

2024-25 but they've kind of pushed this
downturn out longer by by fighting it

downturn out longer by by fighting it

downturn out longer by by fighting it
and not letting the markets do what they

and not letting the markets do what they

and not letting the markets do what they
do best clear out bad debts clear out

do best clear out bad debts clear out

do best clear out bad debts clear out
excessive valuations so we can move on

excessive valuations so we can move on

excessive valuations so we can move on
and have a healthy bull market again

and have a healthy bull market again

and have a healthy bull market again
which we always do when the next

which we always do when the next

which we always do when the next
Generation starts spinning so the next

Generation starts spinning so the next

Generation starts spinning so the next
generation is going to start spinning in

generation is going to start spinning in

generation is going to start spinning in
the next year or two but we have not

the next year or two but we have not

the next year or two but we have not
cleaned up the massive debts and and

cleaned up the massive debts and and

cleaned up the massive debts and and
overvaluations of the biggest financial

overvaluations of the biggest financial

overvaluations of the biggest financial
asset bubble in everything we've never

asset bubble in everything we've never

asset bubble in everything we've never
had a financial asset bubble in

had a financial asset bubble in

had a financial asset bubble in
everything like this this bubble has not

everything like this this bubble has not

everything like this this bubble has not
been allowed to burst and clear out its

been allowed to burst and clear out its

been allowed to burst and clear out its
excesses which we need to do and I think

excesses which we need to do and I think

excesses which we need to do and I think
we're we're into that process now that

we're we're into that process now that

we're we're into that process now that
that you know they over I mean now

that you know they over I mean now

that you know they over I mean now
they're having to tighten strong I mean

they're having to tighten strong I mean

they're having to tighten strong I mean
they they're they're up to uh

they they're they're up to uh

they they're they're up to uh
475 basis points and probably going to

475 basis points and probably going to

475 basis points and probably going to
be at 500 in the next meeting before

be at 500 in the next meeting before

be at 500 in the next meeting before
they stop that's more than they've

they stop that's more than they've

they stop that's more than they've
they've uh pushed up interest rates and

they've uh pushed up interest rates and

they've uh pushed up interest rates and
Titan ever since the early 80s this

Titan ever since the early 80s this

Titan ever since the early 80s this
entire boom and bust so this is serious

entire boom and bust so this is serious

entire boom and bust so this is serious
tightening why they had to tighten

tightening why they had to tighten

tightening why they had to tighten
because they over stimulated and covered

because they over stimulated and covered

because they over stimulated and covered
that was their biggest mistake now

that was their biggest mistake now

that was their biggest mistake now
they're tightening and they're thinking

they're tightening and they're thinking

they're tightening and they're thinking
well the economy underneath can handle

well the economy underneath can handle

well the economy underneath can handle
it no the economy underneath has been

it no the economy underneath has been

it no the economy underneath has been
weak since 2008 and does not get strong

weak since 2008 and does not get strong

weak since 2008 and does not get strong
until a few years from now so I think

until a few years from now so I think

until a few years from now so I think
that's how this correction look what

that's how this correction look what

that's how this correction look what
looks like a correction now keeps going

looks like a correction now keeps going

looks like a correction now keeps going
down bills on itself and turns in to a

down bills on itself and turns in to a

down bills on itself and turns in to a
crash more like 1929 to 32 down 86

crash more like 1929 to 32 down 86

crash more like 1929 to 32 down 86
percent on the S P 500 that's my best

percent on the S P 500 that's my best

percent on the S P 500 that's my best
forecast at this time and we've already

forecast at this time and we've already

forecast at this time and we've already
seen the s p down 28 much more than a

seen the s p down 28 much more than a

seen the s p down 28 much more than a
normal correction and the NASDAQ down 38

normal correction and the NASDAQ down 38

normal correction and the NASDAQ down 38
and I studied every major Bubble Burst

and I studied every major Bubble Burst

and I studied every major Bubble Burst
and all of history for hundreds of years

and all of history for hundreds of years

and all of history for hundreds of years
and found that a bubble does not end

and found that a bubble does not end

and found that a bubble does not end
until you see a first crash of 28 to 50

until you see a first crash of 28 to 50

until you see a first crash of 28 to 50
percent so that's what that crash last

percent so that's what that crash last

percent so that's what that crash last
year was now we're moving in the next

year was now we're moving in the next

year was now we're moving in the next
wave down I call it so you get a first

wave down I call it so you get a first

wave down I call it so you get a first
wave down a second wave bounce which

wave down a second wave bounce which

wave down a second wave bounce which
we've seen we're already into the third

we've seen we're already into the third

we've seen we're already into the third
wave just starting the third wave

wave just starting the third wave

wave just starting the third wave
usually is the strongest and hardest way

usually is the strongest and hardest way

usually is the strongest and hardest way
and I think that's going to happen most

and I think that's going to happen most

and I think that's going to happen most
of that's going to happen between now

of that's going to happen between now

of that's going to happen between now
and the end of the year and the biggest

and the end of the year and the biggest

and the end of the year and the biggest
part of that I call it the third wave of

part of that I call it the third wave of

part of that I call it the third wave of
the third wave so the most powerful part

the third wave so the most powerful part

the third wave so the most powerful part
of the most of the larger third wave

of the most of the larger third wave

of the most of the larger third wave
that we're already in is going to hit

that we're already in is going to hit

that we're already in is going to hit
between now and about mid-june so this

between now and about mid-june so this

between now and about mid-june so this
is the time to be cautious on stocks if

is the time to be cautious on stocks if

is the time to be cautious on stocks if
you listen to me now then you'll

you listen to me now then you'll

you listen to me now then you'll
probably listen to me more down the road

probably listen to me more down the road

probably listen to me more down the road
but just listen to me now this is a

but just listen to me now this is a

but just listen to me now this is a
really good time to lighten up or get

really good time to lighten up or get

really good time to lighten up or get
out of stocks and see if this crash

out of stocks and see if this crash

out of stocks and see if this crash
happens because if it does we could be

happens because if it does we could be

happens because if it does we could be
down 50 on the NASDAQ from the top

down 50 on the NASDAQ from the top

down 50 on the NASDAQ from the top
literally by mid-june or so and that's

literally by mid-june or so and that's

literally by mid-june or so and that's
going to be very painful for investors

going to be very painful for investors

going to be very painful for investors
you mentioned that between 2008 and 2020

you mentioned that between 2008 and 2020

you mentioned that between 2008 and 2020
or 2022 uh back then you forecast that

or 2022 uh back then you forecast that

or 2022 uh back then you forecast that
this period would be a period of very

this period would be a period of very

this period would be a period of very
low spending

low spending

low spending
um okay fine but we also had a period of

um okay fine but we also had a period of

um okay fine but we also had a period of
extraordinary growth for the S P 500 or

extraordinary growth for the S P 500 or

extraordinary growth for the S P 500 or
any stock market index what was that

any stock market index what was that

any stock market index what was that
caused by it wasn't caused by spending

caused by it wasn't caused by spending

caused by it wasn't caused by spending
then right it was something else well it

then right it was something else well it

then right it was something else well it
was caused by Massive money printing

was caused by Massive money printing

was caused by Massive money printing
which did increase consumer spending

which did increase consumer spending

which did increase consumer spending
consumer spending what it would have

consumer spending what it would have

consumer spending what it would have
been much weaker so they were literally

been much weaker so they were literally

been much weaker so they were literally
pouring money in into the economy to

pouring money in into the economy to

pouring money in into the economy to
help offset the natural slowing it's not

help offset the natural slowing it's not

help offset the natural slowing it's not
it's not that individual families are

it's not that individual families are

it's not that individual families are
spending less it's just you have less

spending less it's just you have less

spending less it's just you have less
people moving into their Peak spending

people moving into their Peak spending

people moving into their Peak spending
which again I was the first to

which again I was the first to

which again I was the first to
identified decades ago 46 is the magic

identified decades ago 46 is the magic

identified decades ago 46 is the magic
number now it's about 47 for the

number now it's about 47 for the

number now it's about 47 for the
Millennium 46 is when the Baby Boomers

Millennium 46 is when the Baby Boomers

Millennium 46 is when the Baby Boomers
on average spent the most money so this

on average spent the most money so this

on average spent the most money so this
whole boom was just increasing numbers

whole boom was just increasing numbers

whole boom was just increasing numbers
of baby boomers moving in that Peak

of baby boomers moving in that Peak

of baby boomers moving in that Peak
spinning and ever since 2008 nothing

spinning and ever since 2008 nothing

spinning and ever since 2008 nothing
wrong with economy nobody did anything

wrong with economy nobody did anything

wrong with economy nobody did anything
wrong we have less such Peak Spenders

wrong we have less such Peak Spenders

wrong we have less such Peak Spenders
and that causes a natural slowing and

and that causes a natural slowing and

and that causes a natural slowing and
what governments have done is because

what governments have done is because

what governments have done is because
they only thought it was going to last a

they only thought it was going to last a

they only thought it was going to last a
year to to in 2009 they thought one year

year to to in 2009 they thought one year

year to to in 2009 they thought one year
of of stimulus and we'd be out of that

of of stimulus and we'd be out of that

of of stimulus and we'd be out of that
recession they've had to continually

recession they've had to continually

recession they've had to continually
stimulate the economy because it's a

stimulate the economy because it's a

stimulate the economy because it's a
long-term predictable solid demographic

long-term predictable solid demographic

long-term predictable solid demographic
slowing that you cannot cure except by

slowing that you cannot cure except by

slowing that you cannot cure except by
printing money and what the problem with

printing money and what the problem with

printing money and what the problem with
printing money is it creates financial

printing money is it creates financial

printing money is it creates financial
asset bubbles which then will burst

asset bubbles which then will burst

asset bubbles which then will burst
badly no financial asset bubble ever of

badly no financial asset bubble ever of

badly no financial asset bubble ever of
this size and this is greater than the

this size and this is greater than the

this size and this is greater than the
Roaring 20s greater than the bubble the

Roaring 20s greater than the bubble the

Roaring 20s greater than the bubble the
tech bubble into 99 2000 no bubble has

tech bubble into 99 2000 no bubble has

tech bubble into 99 2000 no bubble has
not burst and burst 80 to 90 percent and

not burst and burst 80 to 90 percent and

not burst and burst 80 to 90 percent and
that's what I'm saying can happen and

that's what I'm saying can happen and

that's what I'm saying can happen and
and anybody that looks at this bubble

and anybody that looks at this bubble

and anybody that looks at this bubble
and sees anything else is bubble blonde

and sees anything else is bubble blonde

and sees anything else is bubble blonde
it just just doesn't understand history

it just just doesn't understand history

it just just doesn't understand history
because this should be the most obvious

because this should be the most obvious

because this should be the most obvious
thing on earth we see a bubble now

thing on earth we see a bubble now

thing on earth we see a bubble now
bigger and higher than the 95 to 2000

bigger and higher than the 95 to 2000

bigger and higher than the 95 to 2000
bubble and people somehow think we'll

bubble and people somehow think we'll

bubble and people somehow think we'll
come out of this with a soft Landing

come out of this with a soft Landing

come out of this with a soft Landing
last time 2008 was not a soft Landing

last time 2008 was not a soft Landing

last time 2008 was not a soft Landing
was the deepest recession deeper than 80

was the deepest recession deeper than 80

was the deepest recession deeper than 80
to 82 the closest thing to 30 to 32 but

to 82 the closest thing to 30 to 32 but

to 82 the closest thing to 30 to 32 but
nothing nothing will ever probably hit

nothing nothing will ever probably hit

nothing nothing will ever probably hit
that again but this is what this is

that again but this is what this is

that again but this is what this is
going to be stronger than that because

going to be stronger than that because

going to be stronger than that because
we didn't finish the downturn in 2008

we didn't finish the downturn in 2008

we didn't finish the downturn in 2008
that that downturn should have lasted

that that downturn should have lasted

that that downturn should have lasted
like 30 to 32 and well into 2010 and we

like 30 to 32 and well into 2010 and we

like 30 to 32 and well into 2010 and we
should have had much you know 15 16

should have had much you know 15 16

should have had much you know 15 16
unemployment instead of 10 to 11 on and

unemployment instead of 10 to 11 on and

unemployment instead of 10 to 11 on and
on and on it didn't so now we're going

on and on it didn't so now we're going

on and on it didn't so now we're going
to see that in the second crash in the

to see that in the second crash in the

to see that in the second crash in the
Great Depression the first crash was the

Great Depression the first crash was the

Great Depression the first crash was the
big one then we had a a second

big one then we had a a second

big one then we had a a second
depression from 37 to 38 at the end this

depression from 37 to 38 at the end this

depression from 37 to 38 at the end this
time we get we get the big crash at the

time we get we get the big crash at the

time we get we get the big crash at the
end here in the early 2020s because we

end here in the early 2020s because we

end here in the early 2020s because we
didn't let the first crash do what the

didn't let the first crash do what the

didn't let the first crash do what the
economy would have loved to do just

economy would have loved to do just

economy would have loved to do just
clear out a lot of bad debt and zombie

clear out a lot of bad debt and zombie

clear out a lot of bad debt and zombie
companies which David as you know I mean

companies which David as you know I mean

companies which David as you know I mean
both of those are at record levels I

both of those are at record levels I

both of those are at record levels I
mean I can't even compare this debt

mean I can't even compare this debt

mean I can't even compare this debt
bubble and the number of zombie

bubble and the number of zombie

bubble and the number of zombie
companies which they didn't even used to

companies which they didn't even used to

companies which they didn't even used to
measure companies that can't can own

measure companies that can't can own

measure companies that can't can own
can't can't can't pay their Debt Service

can't can't can't pay their Debt Service

can't can't can't pay their Debt Service
but can still barely be a lot this we've

but can still barely be a lot this we've

but can still barely be a lot this we've
never seen levels like this which is a

never seen levels like this which is a

never seen levels like this which is a
sign that the economy needs to take a

sign that the economy needs to take a

sign that the economy needs to take a
break and flush out all these zombie

break and flush out all these zombie

break and flush out all these zombie
companies and excessive debt that is

companies and excessive debt that is

companies and excessive debt that is
unproductive now most debt now that was

unproductive now most debt now that was

unproductive now most debt now that was
raised is not productive the economy

raised is not productive the economy

raised is not productive the economy
loves to flush that out to make us

loves to flush that out to make us

loves to flush that out to make us
healthy again Central Bankers don't like

healthy again Central Bankers don't like

healthy again Central Bankers don't like
recessions because they think they're

recessions because they think they're

recessions because they think they're
the enemy when they and they don't

the enemy when they and they don't

the enemy when they and they don't
understand that it's exactly recessions

understand that it's exactly recessions

understand that it's exactly recessions
that make the economy so damn efficient

that make the economy so damn efficient

that make the economy so damn efficient
recessions are the cleaning agent the

recessions are the cleaning agent the

recessions are the cleaning agent the
rebalancing agent every time we have a

rebalancing agent every time we have a

rebalancing agent every time we have a
boom and things get a little overdone

boom and things get a little overdone

boom and things get a little overdone
and sloppy and in excessive and

and sloppy and in excessive and

and sloppy and in excessive and
inefficient I mean the longer the

inefficient I mean the longer the

inefficient I mean the longer the
economy booms the more everybody lets

economy booms the more everybody lets

economy booms the more everybody lets
their guard down so recessions are as

their guard down so recessions are as

their guard down so recessions are as
necessary as booms and and they don't

necessary as booms and and they don't

necessary as booms and and they don't
last as long they only last you know

last as long they only last you know

last as long they only last you know
about half as long as is upturns

about half as long as is upturns

about half as long as is upturns
typically or less so recessions are a

typically or less so recessions are a

typically or less so recessions are a
good thing and then the way not to have

good thing and then the way not to have

good thing and then the way not to have
a deep recession is don't have a crazy

a deep recession is don't have a crazy

a deep recession is don't have a crazy
bubbly boom like we've gotten from over

bubbly boom like we've gotten from over

bubbly boom like we've gotten from over
stimulus since 2009. this boom has all

stimulus since 2009. this boom has all

stimulus since 2009. this boom has all
been stimulus no demographics driving it

been stimulus no demographics driving it

been stimulus no demographics driving it
the boom from 1983 to 2007 was driven by

the boom from 1983 to 2007 was driven by

the boom from 1983 to 2007 was driven by
the strongest demographic Trends and

the strongest demographic Trends and

the strongest demographic Trends and
Technology Trends in history okay even

Technology Trends in history okay even

Technology Trends in history okay even
stronger than the 50s and 60s in the

stronger than the 50s and 60s in the

stronger than the 50s and 60s in the
Roaring 20s and early 1900s so that was

Roaring 20s and early 1900s so that was

Roaring 20s and early 1900s so that was
real everything since 2008 has been fake

real everything since 2008 has been fake

real everything since 2008 has been fake
and now we need to wash that out so we

and now we need to wash that out so we

and now we need to wash that out so we
can see the next real Trend which is a

can see the next real Trend which is a

can see the next real Trend which is a
shorter Trend but it's it's the it's the

shorter Trend but it's it's the it's the

shorter Trend but it's it's the it's the
millennial boom from 2020 late 2024 in

millennial boom from 2020 late 2024 in

millennial boom from 2020 late 2024 in
the late 2037 that will be their boom

the late 2037 that will be their boom

the late 2037 that will be their boom
and that boom will be compromised and

and that boom will be compromised and

and that boom will be compromised and
not fully happen if we don't wash out

not fully happen if we don't wash out

not fully happen if we don't wash out
the excesses from this baby boom boom we

the excesses from this baby boom boom we

the excesses from this baby boom boom we
did we had the boom and never let the

did we had the boom and never let the

did we had the boom and never let the
bust do what the economy does so well

bust do what the economy does so well

bust do what the economy does so well
clean out all the excess so the

clean out all the excess so the

clean out all the excess so the
millennial General information gonna

millennial General information gonna

millennial General information gonna
pick us up in 2024 I want to come back

pick us up in 2024 I want to come back

pick us up in 2024 I want to come back
to that very important point but let's

to that very important point but let's

to that very important point but let's
talk about valuations and Bubbles so

talk about valuations and Bubbles so

talk about valuations and Bubbles so
when we think about bubbles we think

when we think about bubbles we think

when we think about bubbles we think
about highly overvalued markets the S P

about highly overvalued markets the S P

about highly overvalued markets the S P
500 uh PE ratio has come down like most

500 uh PE ratio has come down like most

500 uh PE ratio has come down like most
markets do you think we're still in a

markets do you think we're still in a

markets do you think we're still in a
highly overvalued territory then yeah

highly overvalued territory then yeah

highly overvalued territory then yeah
yes I mean because this is

this is the two bubbles in a row okay

this is the two bubbles in a row okay
the the first bubble

Republic bull market was not as bubbly

Republic bull market was not as bubbly
It was 95 to 2000 when the tech stocks

It was 95 to 2000 when the tech stocks

It was 95 to 2000 when the tech stocks
were leading and you had the big bubble

were leading and you had the big bubble

were leading and you had the big bubble
there in the NASDAQ and that's what's

there in the NASDAQ and that's what's

there in the NASDAQ and that's what's
happened again this time it's not just

happened again this time it's not just

happened again this time it's not just
the NASDAQ it's a whole nother sector

the NASDAQ it's a whole nother sector

the NASDAQ it's a whole nother sector
which is not in the NASDAQ even though

which is not in the NASDAQ even though

which is not in the NASDAQ even though
it's Leading Edge and that's the whole

it's Leading Edge and that's the whole

it's Leading Edge and that's the whole
crypto so your crypto stocks have been

crypto so your crypto stocks have been

crypto so your crypto stocks have been
the biggest feature they're the Leading

the biggest feature they're the Leading

the biggest feature they're the Leading
Edge of this boom it was the not just

Edge of this boom it was the not just

Edge of this boom it was the not just
the technology stocks it was the.com

the technology stocks it was the.com

the technology stocks it was the.com
stock it was the Amazon like.com

stock it was the Amazon like.com

stock it was the Amazon like.com
retailers that were emerging in the

retailers that were emerging in the

retailers that were emerging in the
mainstream rapidly in the late 90s

mainstream rapidly in the late 90s

mainstream rapidly in the late 90s
driving that first bubble so what this

driving that first bubble so what this

driving that first bubble so what this
really is is it's the second Tech bubble

really is is it's the second Tech bubble

really is is it's the second Tech bubble
and again you'll never see two

and again you'll never see two

and again you'll never see two
technology driven bubbles in a row in

technology driven bubbles in a row in

technology driven bubbles in a row in
history you didn't see you saw 37 kind

history you didn't see you saw 37 kind

history you didn't see you saw 37 kind
of follow 29 but that was only that was

of follow 29 but that was only that was

of follow 29 but that was only that was
less than a decade later and not the

less than a decade later and not the

less than a decade later and not the
same level of bubble so since we didn't

same level of bubble so since we didn't

same level of bubble so since we didn't
have this wash out and didn't clear out

have this wash out and didn't clear out

have this wash out and didn't clear out
the excesses all this stimulus us did

the excesses all this stimulus us did

the excesses all this stimulus us did
was to create a second artificial bubble

was to create a second artificial bubble

was to create a second artificial bubble
on top of the natural one that first hit

on top of the natural one that first hit

on top of the natural one that first hit
in 2000 and crashed and you got to

in 2000 and crashed and you got to

in 2000 and crashed and you got to
remember the NASDAQ in 2000 2002 crash

remember the NASDAQ in 2000 2002 crash

remember the NASDAQ in 2000 2002 crash
with only a mild recession was down 78

with only a mild recession was down 78

with only a mild recession was down 78
that was the biggest crash the nasdaqs

that was the biggest crash the nasdaqs

that was the biggest crash the nasdaqs
ever had in its history and this one I'm

ever had in its history and this one I'm

ever had in its history and this one I'm
just saying will be a little larger

just saying will be a little larger

just saying will be a little larger
about 92 percent because that one was

about 92 percent because that one was

about 92 percent because that one was
not allowed to go all the way so so this

not allowed to go all the way so so this

not allowed to go all the way so so this
is what happens bubbles always have the

is what happens bubbles always have the

is what happens bubbles always have the
biggest crashes because they have the

biggest crashes because they have the

biggest crashes because they have the
biggest blow-offs you know they they're

biggest blow-offs you know they they're

biggest blow-offs you know they they're
they're they're the strongest stock

they're they're the strongest stock

they're they're the strongest stock
booms on on bull markets and so they

booms on on bull markets and so they

booms on on bull markets and so they
crash hard as well so anybody that looks

crash hard as well so anybody that looks

crash hard as well so anybody that looks
at a bubble of this size and I dare

at a bubble of this size and I dare

at a bubble of this size and I dare
anybody look at the stock market from 95

anybody look at the stock market from 95

anybody look at the stock market from 95
to 2000 look at it from 2019 22 to 29

to 2000 look at it from 2019 22 to 29

to 2000 look at it from 2019 22 to 29
that Bubble look at any other bubble in

that Bubble look at any other bubble in

that Bubble look at any other bubble in
history and look at this recent bubble

history and look at this recent bubble

history and look at this recent bubble
okay since 2009 the long biggest and

okay since 2009 the long biggest and

okay since 2009 the long biggest and
biggest bubble and tell me this isn't a

biggest bubble and tell me this isn't a

biggest bubble and tell me this isn't a
bubble

bubble

bubble
you're crazy if you say that nobody

you're crazy if you say that nobody

you're crazy if you say that nobody
wants to see it and all the experts

wants to see it and all the experts

wants to see it and all the experts
ignore it well it's okay and the FED has

ignore it well it's okay and the FED has

ignore it well it's okay and the FED has
it under control and the FED won't let

it under control and the FED won't let

it under control and the FED won't let
this a downturn get too high it's

this a downturn get too high it's

this a downturn get too high it's
already failing I think what's going to

already failing I think what's going to

already failing I think what's going to
happen

happen

happen
and the best thing that can happen from

and the best thing that can happen from

and the best thing that can happen from
my view is that this next this third

my view is that this next this third

my view is that this next this third
wave of the third wave which is

wave of the third wave which is

wave of the third wave which is
naturally the most powerful you're going

naturally the most powerful you're going

naturally the most powerful you're going
to see okay in the whole sequence down

to see okay in the whole sequence down

to see okay in the whole sequence down
over five waves over two and a half

over five waves over two and a half

over five waves over two and a half
years like like 73 to 74 or 29 to 32. is

years like like 73 to 74 or 29 to 32. is

years like like 73 to 74 or 29 to 32. is
is going to happen fast and hard and

is going to happen fast and hard and

is going to happen fast and hard and
that's what's going to lose people gonna

that's what's going to lose people gonna

that's what's going to lose people gonna
lose faith Fame the central banks being

lose faith Fame the central banks being

lose faith Fame the central banks being
able to contain this thing and then they

able to contain this thing and then they

able to contain this thing and then they
just get bearish and then it's hard to

just get bearish and then it's hard to

just get bearish and then it's hard to
stop the markets from continuing to fall

stop the markets from continuing to fall

stop the markets from continuing to fall
so I think this is a critical Junction

so I think this is a critical Junction

so I think this is a critical Junction
the markets want to get back in control

the markets want to get back in control

the markets want to get back in control
here the markets don't agree with the

here the markets don't agree with the

here the markets don't agree with the
fed the markets would would rather flush

fed the markets would would rather flush

fed the markets would would rather flush
out these excesses than keep a limping

out these excesses than keep a limping

out these excesses than keep a limping
economy going on forever but the you

economy going on forever but the you

economy going on forever but the you
know central banks and politicians want

know central banks and politicians want

know central banks and politicians want
to get reelected now and they don't want

to get reelected now and they don't want

to get reelected now and they don't want
the economy to go down on their watch so

the economy to go down on their watch so

the economy to go down on their watch so
so they're they're basically wimps in

so they're they're basically wimps in

so they're they're basically wimps in
this case the markets the market node

this case the markets the market node

this case the markets the market node
the market as soon as the central banks

the market as soon as the central banks

the market as soon as the central banks
kind of get get run over or lose control

kind of get get run over or lose control

kind of get get run over or lose control
here the markets are going to go down

here the markets are going to go down

here the markets are going to go down
and Usher in a deep debt detail it's a

and Usher in a deep debt detail it's a

and Usher in a deep debt detail it's a
debt detox it's the best thing to call

debt detox it's the best thing to call

debt detox it's the best thing to call
it you basically need to wash out a lot

it you basically need to wash out a lot

it you basically need to wash out a lot
of bad debts and zombie companies which

of bad debts and zombie companies which

of bad debts and zombie companies which
shouldn't exist the cop free market

shouldn't exist the cop free market

shouldn't exist the cop free market
capitalism is equally boom and bust the

capitalism is equally boom and bust the

capitalism is equally boom and bust the
busts are necessary as I said earlier to

busts are necessary as I said earlier to

busts are necessary as I said earlier to
to clean out the excesses you're going

to clean out the excesses you're going

to clean out the excesses you're going
to get in every boom you can't have a

to get in every boom you can't have a

to get in every boom you can't have a
boom without a bus to clean up and take

boom without a bus to clean up and take

boom without a bus to clean up and take
out the garbage and get ready for the

out the garbage and get ready for the

out the garbage and get ready for the
next great boom and if you don't and

next great boom and if you don't and

next great boom and if you don't and
this would be the first time in history

this would be the first time in history

this would be the first time in history
if we didn't if you don't have that

if we didn't if you don't have that

if we didn't if you don't have that
downturn in between like we saw in the

downturn in between like we saw in the

downturn in between like we saw in the
70s and we saw in the 30s then then the

70s and we saw in the 30s then then the

70s and we saw in the 30s then then the
next boom will be compromised there will

next boom will be compromised there will

next boom will be compromised there will
not be the productivity and and the

not be the productivity and and the

not be the productivity and and the
growth there full out because we're

growth there full out because we're

growth there full out because we're
still carrying unproductive debts

still carrying unproductive debts

still carrying unproductive debts
lugging them into the future uh what's

lugging them into the future uh what's

lugging them into the future uh what's
your view on cryptocurrencies in your

your view on cryptocurrencies in your

your view on cryptocurrencies in your
recent newsletter you pointed out the

recent newsletter you pointed out the

recent newsletter you pointed out the
fact that Bitcoin still overwhelmingly

fact that Bitcoin still overwhelmingly

fact that Bitcoin still overwhelmingly
dominates the overall crypto market cap

dominates the overall crypto market cap

dominates the overall crypto market cap
so I guess I'll ask you what your view

so I guess I'll ask you what your view

so I guess I'll ask you what your view
on bitcoin is given that you think

on bitcoin is given that you think

on bitcoin is given that you think
there's going to be a crash in the

there's going to be a crash in the

there's going to be a crash in the
NASDAQ and given that historically

NASDAQ and given that historically

NASDAQ and given that historically
they've been correlated yes yes okay

they've been correlated yes yes okay

they've been correlated yes yes okay
real quick so I'm predicting the s p

real quick so I'm predicting the s p

real quick so I'm predicting the s p
will go down 86 percent the NASDAQ 92

will go down 86 percent the NASDAQ 92

will go down 86 percent the NASDAQ 92
and guess what the crypto sector Bitcoin

and guess what the crypto sector Bitcoin

and guess what the crypto sector Bitcoin
being because there isn't a good enough

being because there isn't a good enough

being because there isn't a good enough
index will go down more like 95 96

index will go down more like 95 96

index will go down more like 95 96
percent so they are lead bubble and so

percent so they are lead bubble and so

percent so they are lead bubble and so
that means Bitcoin goes and nobody's

that means Bitcoin goes and nobody's

that means Bitcoin goes and nobody's
going to believe this in that industry

going to believe this in that industry

going to believe this in that industry
and I'm down here in Puerto Rico

and I'm down here in Puerto Rico

and I'm down here in Puerto Rico
surrounded by crypto people they've all

surrounded by crypto people they've all

surrounded by crypto people they've all
moved here for the tax purposes because

moved here for the tax purposes because

moved here for the tax purposes because
they're in big capital gains industry

they're in big capital gains industry

they're in big capital gains industry
that that Bitcoin will fall from 69 000

that that Bitcoin will fall from 69 000

that that Bitcoin will fall from 69 000
to about three to four thousand David

to about three to four thousand David

to about three to four thousand David
and that and people say oh Mike then

and that and people say oh Mike then

and that and people say oh Mike then
people will say oh well that was just

people will say oh well that was just

people will say oh well that was just
total BS oh it was it was just a big

total BS oh it was it was just a big

total BS oh it was it was just a big
hoax no it's exactly what Amazon and the

hoax no it's exactly what Amazon and the

hoax no it's exactly what Amazon and the
dot-coms did that will even prove to me

dot-coms did that will even prove to me

dot-coms did that will even prove to me
more this bubble the size of this crypto

more this bubble the size of this crypto

more this bubble the size of this crypto
bubble says to me this is not a joke

bubble says to me this is not a joke

bubble says to me this is not a joke
this is the next big thing happening it

this is the next big thing happening it

this is the next big thing happening it
it it it it it monitors and and Echoes

it it it it it monitors and and Echoes

it it it it it monitors and and Echoes
the the.com bubble perfectly and the

the the.com bubble perfectly and the

the the.com bubble perfectly and the
Crash should be equally bad 95 to 96

Crash should be equally bad 95 to 96

Crash should be equally bad 95 to 96
which is what what Amazon and the

which is what what Amazon and the

which is what what Amazon and the
dot-coms went down and then have the

dot-coms went down and then have the

dot-coms went down and then have the
great a great Boom for decades to follow

great a great Boom for decades to follow

great a great Boom for decades to follow
so so this is just the baby bubble in a

so so this is just the baby bubble in a

so so this is just the baby bubble in a
longer boom that will not Peak until the

longer boom that will not Peak until the

longer boom that will not Peak until the
2030s when the United States when the

2030s when the United States when the

2030s when the United States when the
Millennials peak in their spending cycle

Millennials peak in their spending cycle

Millennials peak in their spending cycle
is when you'll see crypto and all these

is when you'll see crypto and all these

is when you'll see crypto and all these
things like Bitcoin and blockchain and

things like Bitcoin and blockchain and

things like Bitcoin and blockchain and
it's not Bitcoin Bitcoin is just kind of

it's not Bitcoin Bitcoin is just kind of

it's not Bitcoin Bitcoin is just kind of
the lead dog here blockchain is is a way

the lead dog here blockchain is is a way

the lead dog here blockchain is is a way
of reconstructing all Financial Services

of reconstructing all Financial Services

of reconstructing all Financial Services
it is basically a revolution

it is basically a revolution

it is basically a revolution
particularly in financial services and

particularly in financial services and

particularly in financial services and
why is financial services so important

why is financial services so important

why is financial services so important
for the first time in history we have

for the first time in history we have

for the first time in history we have
the point where everyday people have

the point where everyday people have

the point where everyday people have
substantial wealth you know have

substantial wealth you know have

substantial wealth you know have
hundreds of thousands of dollars going

hundreds of thousands of dollars going

hundreds of thousands of dollars going
into retirement they didn't have that in

into retirement they didn't have that in

into retirement they didn't have that in
the Roaring 20s or the 50s and 60s so

the Roaring 20s or the 50s and 60s so

the Roaring 20s or the 50s and 60s so
this is a wealth Revolution this is a a

this is a wealth Revolution this is a a

this is a wealth Revolution this is a a
revolution in financial services being

revolution in financial services being

revolution in financial services being
ushered in by blockchain technology and

ushered in by blockchain technology and

ushered in by blockchain technology and
and I see Bitcoin Bitcoin is not that

and I see Bitcoin Bitcoin is not that

and I see Bitcoin Bitcoin is not that
useful I see Bitcoin being the number

useful I see Bitcoin being the number

useful I see Bitcoin being the number
one 43 of the whole index today okay of

one 43 of the whole index today okay of

one 43 of the whole index today okay of
of the nine trillion dollars in value

of the nine trillion dollars in value

of the nine trillion dollars in value
there 43 of its Bitcoin I see Bitcoin

there 43 of its Bitcoin I see Bitcoin

there 43 of its Bitcoin I see Bitcoin
becoming the standard for a digital

becoming the standard for a digital

becoming the standard for a digital
global economy like gold in the past was

global economy like gold in the past was

global economy like gold in the past was
this monetary standard in a in a more

this monetary standard in a in a more

this monetary standard in a in a more
material uh less information intensive

material uh less information intensive

material uh less information intensive
economy in the past I see gold cannot be

economy in the past I see gold cannot be

economy in the past I see gold cannot be
that standard it does it's not the new

that standard it does it's not the new

that standard it does it's not the new
economy Bitcoin is the new economy and

economy Bitcoin is the new economy and

economy Bitcoin is the new economy and
is big enough to be that standard and

is big enough to be that standard and

is big enough to be that standard and
that's that's why I see Bitcoin Will

that's that's why I see Bitcoin Will

that's that's why I see Bitcoin Will
Survive because otherwise

Survive because otherwise

Survive because otherwise
ethereum does a lot more useful stuff

ethereum does a lot more useful stuff

ethereum does a lot more useful stuff
than Bitcoin for example how do you see

than Bitcoin for example how do you see

than Bitcoin for example how do you see
the economy uh unfolding over the course

the economy uh unfolding over the course

the economy uh unfolding over the course
of the Year unemployment data came out

of the Year unemployment data came out

of the Year unemployment data came out
this morning on Friday and surprisingly

this morning on Friday and surprisingly

this morning on Friday and surprisingly
to some people it came down not up 3.5

to some people it came down not up 3.5

to some people it came down not up 3.5
percent was the latest reading it was

percent was the latest reading it was

percent was the latest reading it was
3.6 percent people are saying that this

3.6 percent people are saying that this

3.6 percent people are saying that this
is and actually the uh particip labor

is and actually the uh particip labor

is and actually the uh particip labor
force participation rate has also been

force participation rate has also been

force participation rate has also been
inching upwards people are saying that

inching upwards people are saying that

inching upwards people are saying that
the labor market is improving even

the labor market is improving even

the labor market is improving even
though every day we're reading headlines

though every day we're reading headlines

though every day we're reading headlines
at XYZ company is laying off workers

at XYZ company is laying off workers

at XYZ company is laying off workers
McDonald's being the most recent one so

McDonald's being the most recent one so

McDonald's being the most recent one so
what do you think how would you evaluate

what do you think how would you evaluate

what do you think how would you evaluate
the strength of the economy in 2023

the strength of the economy in 2023

the strength of the economy in 2023
we'll see one of the problems one of the

we'll see one of the problems one of the

we'll see one of the problems one of the
things people miss David when we had the

things people miss David when we had the

things people miss David when we had the
last crash okay

last crash okay

last crash okay
um basically uh a lot of people exited

um basically uh a lot of people exited

um basically uh a lot of people exited
okay and this didn't come back people

okay and this didn't come back people

okay and this didn't come back people
gotta remember a lot the Baby Boomers

gotta remember a lot the Baby Boomers

gotta remember a lot the Baby Boomers
are are are almost fully in retirement

are are are almost fully in retirement

are are are almost fully in retirement
they're they're in their retirement

they're they're in their retirement

they're they're in their retirement
stage you know they peaked way back you

stage you know they peaked way back you

stage you know they peaked way back you
know in 2007. so they've been moving

know in 2007. so they've been moving

know in 2007. so they've been moving
increasingly into retirement and will

increasingly into retirement and will

increasingly into retirement and will
continue into 2019. I'm sorry uh in in

continue into 2019. I'm sorry uh in in

continue into 2019. I'm sorry uh in in
the 2029 to do that before they're fully

the 2029 to do that before they're fully

the 2029 to do that before they're fully
retired but they are retiring they are

retired but they are retiring they are

retired but they are retiring they are
leaving the workforce and not coming

leaving the workforce and not coming

leaving the workforce and not coming
back so that's what people are missing

back so that's what people are missing

back so that's what people are missing
oh unemployment is is remaining pretty

oh unemployment is is remaining pretty

oh unemployment is is remaining pretty
low it's because a lot of people have

low it's because a lot of people have

low it's because a lot of people have
left okay they're not measuring those

left okay they're not measuring those

left okay they're not measuring those
people what happened to those people and

people what happened to those people and

people what happened to those people and
and of course they're going to be

and of course they're going to be

and of course they're going to be
spending less money in retirement people

spending less money in retirement people

spending less money in retirement people
Peak at 46 Plateau into their mid mid to

Peak at 46 Plateau into their mid mid to

Peak at 46 Plateau into their mid mid to
late 50s and then spend less in the

late 50s and then spend less in the

late 50s and then spend less in the
retirement and death so so the largest

retirement and death so so the largest

retirement and death so so the largest
generation in history is just going to

generation in history is just going to

generation in history is just going to
be spending less and that is going to be

be spending less and that is going to be

be spending less and that is going to be
a drag on the economy and that is what

a drag on the economy and that is what

a drag on the economy and that is what
would have without all this stimulus

would have without all this stimulus

would have without all this stimulus
caused much higher unemployment and much

caused much higher unemployment and much

caused much higher unemployment and much
weaker stock markets from 2008 through

weaker stock markets from 2008 through

weaker stock markets from 2008 through
2023 here now I say because they've

2023 here now I say because they've

2023 here now I say because they've
pushed this off we don't probably bottom

pushed this off we don't probably bottom

pushed this off we don't probably bottom
in this downturn in stocks until

in this downturn in stocks until

in this downturn in stocks until
mid-2024 maybe late 2024 so a couple of

mid-2024 maybe late 2024 so a couple of

mid-2024 maybe late 2024 so a couple of
years later than the natural time which

years later than the natural time which

years later than the natural time which
would have been late 2022 in these

would have been late 2022 in these

would have been late 2022 in these
Cycles

Cycles

Cycles
um and and we have yet to see the

um and and we have yet to see the

um and and we have yet to see the
deepest downturn yet this downturn

deepest downturn yet this downturn

deepest downturn yet this downturn
should be 50 stronger than the 2008 to 9

should be 50 stronger than the 2008 to 9

should be 50 stronger than the 2008 to 9
downturn okay and and the stock market

downturn okay and and the stock market

downturn okay and and the stock market
should be down 86 percent s p instead of

should be down 86 percent s p instead of

should be down 86 percent s p instead of
57 everything I see unemployment will be

57 everything I see unemployment will be

57 everything I see unemployment will be
16 instead of 10 stocks will be down 80

16 instead of 10 stocks will be down 80

16 instead of 10 stocks will be down 80
6 s p instead of 57 everything's going

6 s p instead of 57 everything's going

6 s p instead of 57 everything's going
to be about 50 but best way to look at

to be about 50 but best way to look at

to be about 50 but best way to look at
this next downturn if I'm right it'll be

this next downturn if I'm right it'll be

this next downturn if I'm right it'll be
50 percent worse than 2008 to 9 and that

50 percent worse than 2008 to 9 and that

50 percent worse than 2008 to 9 and that
is the worst downturn any of us have

is the worst downturn any of us have

is the worst downturn any of us have
seen in our lifetime the early 80s in

seen in our lifetime the early 80s in

seen in our lifetime the early 80s in
the 73 to 75 downturn were not as strong

the 73 to 75 downturn were not as strong

the 73 to 75 downturn were not as strong
as unemployment or stock crashes as that

as unemployment or stock crashes as that

as unemployment or stock crashes as that
one this is going to be stronger than

one this is going to be stronger than

one this is going to be stronger than
that if I'm right so so if I'm right you

that if I'm right so so if I'm right you

that if I'm right so so if I'm right you
better get out of the way and if I'm

better get out of the way and if I'm

better get out of the way and if I'm
wrong you might miss you know a couple

wrong you might miss you know a couple

wrong you might miss you know a couple
months of this thing before you realize

months of this thing before you realize

months of this thing before you realize
I'm wrong but I'm telling you if I'm

I'm wrong but I'm telling you if I'm

I'm wrong but I'm telling you if I'm
right it's likely to follow through

right it's likely to follow through

right it's likely to follow through
we're we're well into this third wave

we're we're well into this third wave

we're we're well into this third wave
down and that's the that's the damaging

down and that's the that's the damaging

down and that's the that's the damaging
one that's the dangerous one I think

one that's the dangerous one I think

one that's the dangerous one I think
you're going to see that hit in the next

you're going to see that hit in the next

you're going to see that hit in the next
couple of months so just give me two

couple of months so just give me two

couple of months so just give me two
months of you being conservative and see

months of you being conservative and see

months of you being conservative and see
if I'm right then you can listen to me

if I'm right then you can listen to me

if I'm right then you can listen to me
and continue to follow me but just be

and continue to follow me but just be

and continue to follow me but just be
careful the next two months is my advice

careful the next two months is my advice

careful the next two months is my advice
today we'll follow up with you in two to

today we'll follow up with you in two to

today we'll follow up with you in two to
three months uh but Harry I wanna tell

three months uh but Harry I wanna tell

three months uh but Harry I wanna tell
talk about 2024 and what's beyond so

talk about 2024 and what's beyond so

talk about 2024 and what's beyond so
what what turned you bullish now you're

what what turned you bullish now you're

what what turned you bullish now you're
saying that the millennial generation

saying that the millennial generation

saying that the millennial generation
coming in spending money could

coming in spending money could

coming in spending money could
potentially make you bullish let's talk

potentially make you bullish let's talk

potentially make you bullish let's talk
about the demographics interesting

about the demographics interesting

about the demographics interesting
trends that the Millennials have

trends that the Millennials have

trends that the Millennials have
um slightly more educated than the

um slightly more educated than the

um slightly more educated than the
boomer generation on a per capita basis

boomer generation on a per capita basis

boomer generation on a per capita basis
uh they still have less wealth in the

uh they still have less wealth in the

uh they still have less wealth in the
boomer generation uh although I was

boomer generation uh although I was

boomer generation uh although I was
reading Millennial wealth has doubled

reading Millennial wealth has doubled

reading Millennial wealth has doubled
since the pandemic uh household

since the pandemic uh household

since the pandemic uh household
formation is going down younger people

formation is going down younger people

formation is going down younger people
are having uh families later in their

are having uh families later in their

are having uh families later in their
lives than before than previous

lives than before than previous

lives than before than previous
generations and we're seeing uh less

generations and we're seeing uh less

generations and we're seeing uh less
adoption or less uh less purchases of

adoption or less uh less purchases of

adoption or less uh less purchases of
real estate most more Millennials are at

real estate most more Millennials are at

real estate most more Millennials are at
at their current age are renting as

at their current age are renting as

at their current age are renting as
opposed to Prior Generations who have

opposed to Prior Generations who have

opposed to Prior Generations who have
already bought homes so how do all these

already bought homes so how do all these

already bought homes so how do all these
Trends play out and how do you think

Trends play out and how do you think

Trends play out and how do you think
Millennial spending will differ or be

Millennial spending will differ or be

Millennial spending will differ or be
similar to let's say Boomer spending

similar to let's say Boomer spending

similar to let's say Boomer spending
okay this is why the economy knows

okay this is why the economy knows

okay this is why the economy knows
better than dumbass economists okay I

better than dumbass economists okay I

better than dumbass economists okay I
hate to say that but dumb economists

hate to say that but dumb economists

hate to say that but dumb economists
okay the economy why why can't this

okay the economy why why can't this

okay the economy why why can't this
generation afford real estate because we

generation afford real estate because we

generation afford real estate because we
have the greatest real estate bubble in

have the greatest real estate bubble in

have the greatest real estate bubble in
history a second one which you never see

history a second one which you never see

history a second one which you never see
as I say two bubbles in a row we had a

as I say two bubbles in a row we had a

as I say two bubbles in a row we had a
first real estate bubble in 2000 and

first real estate bubble in 2000 and

first real estate bubble in 2000 and
then a second one now real estate is the

then a second one now real estate is the

then a second one now real estate is the
most unaffordable it's ever been and we

most unaffordable it's ever been and we

most unaffordable it's ever been and we
didn't have a real estate

didn't have a real estate

didn't have a real estate
unaffordability problem even in the

unaffordability problem even in the

unaffordability problem even in the
Roaring 20s bubble okay it was a stock

Roaring 20s bubble okay it was a stock

Roaring 20s bubble okay it was a stock
bubble because because real estate was

bubble because because real estate was

bubble because because real estate was
too hard to finance back then back then

too hard to finance back then back then

too hard to finance back then back then
you know what a loan a mortgage was 50

you know what a loan a mortgage was 50

you know what a loan a mortgage was 50
down and five-year termination okay five

down and five-year termination okay five

down and five-year termination okay five
here uh maturity okay so it was people

here uh maturity okay so it was people

here uh maturity okay so it was people
couldn't speculate and couldn't get

couldn't speculate and couldn't get

couldn't speculate and couldn't get
loans so easy back then so we've had

loans so easy back then so we've had

loans so easy back then so we've had
very easy mortgages a second real estate

very easy mortgages a second real estate

very easy mortgages a second real estate
bubble and now of course that's why this

bubble and now of course that's why this

bubble and now of course that's why this
poor generation can't afford to buy a

poor generation can't afford to buy a

poor generation can't afford to buy a
new house or or the same house a baby

new house or or the same house a baby

new house or or the same house a baby
boomer could have when they were in

boomer could have when they were in

boomer could have when they were in
their late 20s typically your first home

their late 20s typically your first home

their late 20s typically your first home
purchase is is peak exit 31 and then

purchase is is peak exit 31 and then

purchase is is peak exit 31 and then
your second home your trade-up home your

your second home your trade-up home your

your second home your trade-up home your
largest home Peaks at 42. well for this

largest home Peaks at 42. well for this

largest home Peaks at 42. well for this
generation they're not getting their

generation they're not getting their

generation they're not getting their
first home until 34 to 35 and and and

first home until 34 to 35 and and and

first home until 34 to 35 and and and
who knows when they're gonna get their

who knows when they're gonna get their

who knows when they're gonna get their
trade up home uh and and that's why the

trade up home uh and and that's why the

trade up home uh and and that's why the
economy the economy will solve this

economy the economy will solve this

economy the economy will solve this
overnight David all we need is a big

overnight David all we need is a big

overnight David all we need is a big
recession which will look at more like a

recession which will look at more like a

recession which will look at more like a
depression and real estate will come

depression and real estate will come

depression and real estate will come
down and this is my forecast as well

down and this is my forecast as well

down and this is my forecast as well
stocks 86 percent real estate will come

stocks 86 percent real estate will come

stocks 86 percent real estate will come
down for the average house 50 and people

down for the average house 50 and people

down for the average house 50 and people
say oh that can't happen we just saw 34

say oh that can't happen we just saw 34

say oh that can't happen we just saw 34
in the last downturn which the central

in the last downturn which the central

in the last downturn which the central
banks purposely cut off before it did

banks purposely cut off before it did

banks purposely cut off before it did
its work okay that would have so so 50

its work okay that would have so so 50

its work okay that would have so so 50
is not a stretch and this is what's

is not a stretch and this is what's

is not a stretch and this is what's
going to hurt most people stock market

going to hurt most people stock market

going to hurt most people stock market
goes down comes back faster real estate

goes down comes back faster real estate

goes down comes back faster real estate
didn't bottom in the last downturn David

didn't bottom in the last downturn David

didn't bottom in the last downturn David
the 2008 crisis until mid 2012 six years

the 2008 crisis until mid 2012 six years

the 2008 crisis until mid 2012 six years
later stocks bottomed a couple years

later stocks bottomed a couple years

later stocks bottomed a couple years
later okay so so real estate is what's

later okay so so real estate is what's

later okay so so real estate is what's
going to hit people the hardest and we

going to hit people the hardest and we

going to hit people the hardest and we
will not we probably will not and I've

will not we probably will not and I've

will not we probably will not and I've
been predicting this for a long time not

been predicting this for a long time not

been predicting this for a long time not
just read we will not see the peak real

just read we will not see the peak real

just read we will not see the peak real
estate prices we've seen here for the

estate prices we've seen here for the

estate prices we've seen here for the
rest of our lifetimes if ever not even

rest of our lifetimes if ever not even

rest of our lifetimes if ever not even
in the millennial boom because the

in the millennial boom because the

in the millennial boom because the
millennial boom will not be in a bubble

millennial boom will not be in a bubble

millennial boom will not be in a bubble
era like the Roaring 20s or like the 90s

era like the Roaring 20s or like the 90s

era like the Roaring 20s or like the 90s
and 2000s here so so so will it they'll

and 2000s here so so so will it they'll

and 2000s here so so so will it they'll
drive real estate back up but it will

drive real estate back up but it will

drive real estate back up but it will
not get to Bubble levels because it will

not get to Bubble levels because it will

not get to Bubble levels because it will
not be a bubble boom what people have to

not be a bubble boom what people have to

not be a bubble boom what people have to
realize and I've I've just my recent

realize and I've I've just my recent

realize and I've I've just my recent
books have been bubble bubble this you

books have been bubble bubble this you

books have been bubble bubble this you
know roaring you know 2 000 stuff we

know roaring you know 2 000 stuff we

know roaring you know 2 000 stuff we
won't see this again we will not see a

won't see this again we will not see a

won't see this again we will not see a
bubble economy for for our kids will

bubble economy for for our kids will

bubble economy for for our kids will
probably not even see a bubble economy

probably not even see a bubble economy

probably not even see a bubble economy
decades and decades from now they are

decades and decades from now they are

decades and decades from now they are
rare the last bubble economy was the

rare the last bubble economy was the

rare the last bubble economy was the
early 1900s into

early 1900s into

early 1900s into
1929. it happens once in a lifetime at

1929. it happens once in a lifetime at

1929. it happens once in a lifetime at
most every 80s and this is it bubble

most every 80s and this is it bubble

most every 80s and this is it bubble
cycle is a 90 year cycle and this is the

cycle is a 90 year cycle and this is the

cycle is a 90 year cycle and this is the
this is the bubble of our bubble before

this is the bubble of our bubble before

this is the bubble of our bubble before
that was 1837 Peak uh 90 years before

that was 1837 Peak uh 90 years before

that was 1837 Peak uh 90 years before
29. and this is the bubble of Our

29. and this is the bubble of Our

29. and this is the bubble of Our
Lifetime right now this is the bubble of

Lifetime right now this is the bubble of

Lifetime right now this is the bubble of
our lifetime and bigger and big either

our lifetime and bigger and big either

our lifetime and bigger and big either
the 18 1937 Peak for the 29 people are

the 18 1937 Peak for the 29 people are

the 18 1937 Peak for the 29 people are
you not concerned and it's even called

you not concerned and it's even called

you not concerned and it's even called
now by dumbass Economist the bubble of

now by dumbass Economist the bubble of

now by dumbass Economist the bubble of
everything the everything bubble we

everything the everything bubble we

everything the everything bubble we
didn't now you know every every bubble

didn't now you know every every bubble

didn't now you know every every bubble
in the previous bubbles

in the previous bubbles

in the previous bubbles
uh well Harry are you not concerned

uh well Harry are you not concerned

uh well Harry are you not concerned
about generational wealth being wiped

about generational wealth being wiped

about generational wealth being wiped
out by this Bubble Burst I mean if

out by this Bubble Burst I mean if

out by this Bubble Burst I mean if
housing goes down 50 well how are

housing goes down 50 well how are

housing goes down 50 well how are
millennials going to have money to spend

millennials going to have money to spend

millennials going to have money to spend
in this next coming boom then if

in this next coming boom then if

in this next coming boom then if
everything is going to be down I'm not

everything is going to be down I'm not

everything is going to be down I'm not
worried about the Millennials because

worried about the Millennials because

worried about the Millennials because
they're not even in their big save the

they're not even in their big save the

they're not even in their big save the
saving cycle is is from the kind of

saving cycle is is from the kind of

saving cycle is is from the kind of
early 50s into retirement age 63 okay so

early 50s into retirement age 63 okay so

early 50s into retirement age 63 okay so
that's when people say they're not even

that's when people say they're not even

that's when people say they're not even
there yet yeah they're saving a little

there yet yeah they're saving a little

there yet yeah they're saving a little
bit but there this is going to clear

bit but there this is going to clear

bit but there this is going to clear
them so they can actually the the the

them so they can actually the the the

them so they can actually the the the
the Millennials will actually be able to

the Millennials will actually be able to

the Millennials will actually be able to
invest in financial assets from Real

invest in financial assets from Real

invest in financial assets from Real
Estate to stocks to bonds at Fair

Estate to stocks to bonds at Fair

Estate to stocks to bonds at Fair
valuations again so they can actually

valuations again so they can actually

valuations again so they can actually
appreciate in the next boom they're boom

appreciate in the next boom they're boom

appreciate in the next boom they're boom
okay the Baby Boomers are seeing a

okay the Baby Boomers are seeing a

okay the Baby Boomers are seeing a
totally artificial bubble here that was

totally artificial bubble here that was

totally artificial bubble here that was
way past their natural peak in 2007. we

way past their natural peak in 2007. we

way past their natural peak in 2007. we
should have been in a downturn since

should have been in a downturn since

should have been in a downturn since
then and so this is an artifice but if

then and so this is an artifice but if

then and so this is an artifice but if
this is going to kill the Baby Boomers

this is going to kill the Baby Boomers

this is going to kill the Baby Boomers
because they're the ones in retirement

because they're the ones in retirement

because they're the ones in retirement
now or about to enter retirement the

now or about to enter retirement the

now or about to enter retirement the
last third of them and they are not

last third of them and they are not

last third of them and they are not
going to have that as much savings as

going to have that as much savings as

going to have that as much savings as
they thought and they're going to feel

they thought and they're going to feel

they thought and they're going to feel
like oh my gosh I got to keep working I

like oh my gosh I got to keep working I

like oh my gosh I got to keep working I
can't even afford to retire this is

can't even afford to retire this is

can't even afford to retire this is
going to be the biggest crisis in the

going to be the biggest crisis in the

going to be the biggest crisis in the
baby boomers life the biggest crisis of

baby boomers life the biggest crisis of

baby boomers life the biggest crisis of
the Bob Hope generation was the Great

the Bob Hope generation was the Great

the Bob Hope generation was the Great
Depression this is going to be the big

Depression this is going to be the big

Depression this is going to be the big
crisis the the final kind of depression

crisis the the final kind of depression

crisis the the final kind of depression
into this is going to hit the Baby

into this is going to hit the Baby

into this is going to hit the Baby
Boomers the hardest because they're

Boomers the hardest because they're

Boomers the hardest because they're
going to need that net worth that's

going to need that net worth that's

going to need that net worth that's
going to disappear at the speed of light

going to disappear at the speed of light

going to disappear at the speed of light
and I mean disappear not come back final

and I mean disappear not come back final

and I mean disappear not come back final
two-part question for you Harry is uh

two-part question for you Harry is uh

two-part question for you Harry is uh
when are we going to see you become

when are we going to see you become

when are we going to see you become
bullish again what factors would drive

bullish again what factors would drive

bullish again what factors would drive
this new found bullishness in you and

this new found bullishness in you and

this new found bullishness in you and
given your outlook on the economy and

given your outlook on the economy and

given your outlook on the economy and
stock markets and cryptos now what are

stock markets and cryptos now what are

stock markets and cryptos now what are
your investment plays for us okay first

your investment plays for us okay first

your investment plays for us okay first
of all the natural time the natural

of all the natural time the natural

of all the natural time the natural
cycles will turn up around late 2000 24.

cycles will turn up around late 2000 24.

cycles will turn up around late 2000 24.
so 2025 live on would be bullish without

so 2025 live on would be bullish without

so 2025 live on would be bullish without
stimulus is what I'm saying okay that's

stimulus is what I'm saying okay that's

stimulus is what I'm saying okay that's
when we will see the Millennials

when we will see the Millennials

when we will see the Millennials
actually for good solid reasons driving

actually for good solid reasons driving

actually for good solid reasons driving
up the economy again okay so now that

up the economy again okay so now that

up the economy again okay so now that
could start a little later by pushing

could start a little later by pushing

could start a little later by pushing
this out this this this crisis this

this out this this this crisis this

this out this this this crisis this
crash now uh that only started at the

crash now uh that only started at the

crash now uh that only started at the
beginning of 2022 with the peak in the S

beginning of 2022 with the peak in the S

beginning of 2022 with the peak in the S
P 500 is likely to last well into mid to

P 500 is likely to last well into mid to

P 500 is likely to last well into mid to
late 2024 when it normally in the Cycles

late 2024 when it normally in the Cycles

late 2024 when it normally in the Cycles
would have been over by late 2020 early

would have been over by late 2020 early

would have been over by late 2020 early
2023 so if we have this crash if this

2023 so if we have this crash if this

2023 so if we have this crash if this
crash is allowed to continue and they

crash is allowed to continue and they

crash is allowed to continue and they
don't blow their way out of this one and

don't blow their way out of this one and

don't blow their way out of this one and
you gotta remember they've been

you gotta remember they've been

you gotta remember they've been
tightening now for a year okay and and

tightening now for a year okay and and

tightening now for a year okay and and
and they're about to

and they're about to

and they're about to
stop that but not turn around and lose

stop that but not turn around and lose

stop that but not turn around and lose
it again so so this still in in a in a

it again so so this still in in a in a

it again so so this still in in a in a
tightening mode overall okay so if the

tightening mode overall okay so if the

tightening mode overall okay so if the
economy keeps going down then we could

economy keeps going down then we could

economy keeps going down then we could
be over this as early as the summer of

be over this as early as the summer of

be over this as early as the summer of
2024 for the stock market and I would

2024 for the stock market and I would

2024 for the stock market and I would
say at the latest late 2024 depends on

say at the latest late 2024 depends on

say at the latest late 2024 depends on
how it proceeds from here but if this

how it proceeds from here but if this

how it proceeds from here but if this
crash if this third wave of the third

crash if this third wave of the third

crash if this third wave of the third
wave I'm talking about continues down

wave I'm talking about continues down

wave I'm talking about continues down
and if it does it should you should see

and if it does it should you should see

and if it does it should you should see
that by about mid-june give or take okay

that by about mid-june give or take okay

that by about mid-june give or take okay
so not it's not going to take long to

so not it's not going to take long to

so not it's not going to take long to
see us down oh my gosh now we're not

see us down oh my gosh now we're not

see us down oh my gosh now we're not
talking 30 some percent we're talking 50

talking 30 some percent we're talking 50

talking 30 some percent we're talking 50
some percent for the NASDAQ okay and and

some percent for the NASDAQ okay and and

some percent for the NASDAQ okay and and
close to that for the for the s p that's

close to that for the for the s p that's

close to that for the for the s p that's
when people understand this is not a

when people understand this is not a

when people understand this is not a
correction there's this is not something

correction there's this is not something

correction there's this is not something
can be fixed by money printing we are in

can be fixed by money printing we are in

can be fixed by money printing we are in
a deep downturn and then they get scared

a deep downturn and then they get scared

a deep downturn and then they get scared
and then it's hard to get them spending

and then it's hard to get them spending

and then it's hard to get them spending
money again because they're scared and

money again because they're scared and

money again because they're scared and
they should be scared fair enough well

they should be scared fair enough well

they should be scared fair enough well
uh thank you for your thought that's I

uh thank you for your thought that's I

uh thank you for your thought that's I
mean excellent analysis as always Harry

mean excellent analysis as always Harry

mean excellent analysis as always Harry
I appreciate your candor and where can

I appreciate your candor and where can

I appreciate your candor and where can
people find out more about your work

people find out more about your work

people find out more about your work
okay harrydent.com just just go to that

okay harrydent.com just just go to that

okay harrydent.com just just go to that
simple website you get on our free

simple website you get on our free

simple website you get on our free
newsletter now right now I would tell

newsletter now right now I would tell

newsletter now right now I would tell
people it might be a good time to get on

people it might be a good time to get on

people it might be a good time to get on
our pay news later but you can get on

our pay news later but you can get on

our pay news later but you can get on
our free newsletter immediately you'll

our free newsletter immediately you'll

our free newsletter immediately you'll
get an article from me and my partner

get an article from me and my partner

get an article from me and my partner
one page article and chart every week uh

one page article and chart every week uh

one page article and chart every week uh
and then and we do that until people get

and then and we do that until people get

and then and we do that until people get
enough confidence in us to get on our

enough confidence in us to get on our

enough confidence in us to get on our
paid newsletter and let them but they

paid newsletter and let them but they

paid newsletter and let them but they
can sit on that free newsletter as long

can sit on that free newsletter as long

can sit on that free newsletter as long
as you want so you can't go wrong with

as you want so you can't go wrong with

as you want so you can't go wrong with
that especially at a time like this you

that especially at a time like this you

that especially at a time like this you
got to listen to contrarians at a time

got to listen to contrarians at a time

got to listen to contrarians at a time
like this you can't listen to the normal

like this you can't listen to the normal

like this you can't listen to the normal
Economist they're always going to say

Economist they're always going to say

Economist they're always going to say
it's okay and the central banks have

it's okay and the central banks have

it's okay and the central banks have
this under control I think that's going

this under control I think that's going

this under control I think that's going
to be disproven very quickly but I've

to be disproven very quickly but I've

to be disproven very quickly but I've
been saying this from the beginning you

been saying this from the beginning you

been saying this from the beginning you
can't stop you can't put off a crash

can't stop you can't put off a crash

can't stop you can't put off a crash
like this forever the economy is going

like this forever the economy is going

like this forever the economy is going
to win in the end and it should well we

to win in the end and it should well we

to win in the end and it should well we
appreciate all viewpoints including the

appreciate all viewpoints including the

appreciate all viewpoints including the
contrarian so thank you for letting us

contrarian so thank you for letting us

contrarian so thank you for letting us
your time and your voice today uh thank

your time and your voice today uh thank

your time and your voice today uh thank
you Harry for coming on the show

you Harry for coming on the show

you Harry for coming on the show
appreciate it okay thank you David and

appreciate it okay thank you David and

appreciate it okay thank you David and
thank you for watching uh my show uh the

thank you for watching uh my show uh the

thank you for watching uh my show uh the
David Lynn report I'll put the link

David Lynn report I'll put the link

David Lynn report I'll put the link
links down to Harry's uh newsletter in

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