The Harry Dent Predictions for Australia in 2024 have arrived, and we better buckle up. The economist and lifelong market analyst is predicting tough times in Australia with “the biggest single crash year we’ll see in our lifetimes.” Overvalued markets and excessive stimulus spending will burst the “everything bubble” in 2024. Dent loves to make bold predictions, let’s walk through his latest and the proposed impacts on Australia and the globe.
Harry Dent Predictions for Australia in 2024
Harry Dent believes that since 2009, markets have experienced unprecedented money printing and deficits. He described these as “100 percent artificial” and “off the charts”. This leaves us all in a “dangerous state” and Dent predicts a major crash in 2024.
Dent calls this the “everything bubble” and it is set to burst in 2024. What makes this bubble so frightening is it includes stocks, house prices, gold, and crypto. Dent predicts everything will crash unlike anything before
But what does this mean for Australia and the Globe?
Harry Dent Australia Crash is Coming
Harry Dent is no stranger to Australia. He has been coming to Australia for decades and holds various investments across the country. He believes that every great boom needs to end, and this boom has been running since 2009. This is dangerous because it is “100% from artificial stimulus”, especially coming out of the United States and Europe. But what does this mean for Australia?
Dent believes that stocks and real estate have peaked in Australia. And the inevitable crash he predicts will be terrible for all countries, but “Australia is going to do far better”. The crash started in 2022 but with all the stimulus, there has been a run-up to new highs. That means the “long-term bull market” is over and we are heading down.
So what does this mean for Australian Stocks?
Stock Market to Drop to 2009 Levels
Harry Dent predictions include concerns for the stock market in 2024-2025. He predicts that the S&P will drop 86% and the NASDAQ will be down by 92%. These are wild predictions but in his opinion, “Australia is going to do far better”.
“The Australian stock market has not bubbled as much… So I’m looking at maybe back down about 3500 on the ASX 200. This is about a 50% crash which is going to look very good compared to the rest of the world.
A 50% crash is still catastrophic for the Australian market. Let’s take a look at the Harry Dent predictions for Real Estate.
Real Estate Crash to 2012 Prices
When it comes to real Estate, Dent believes that Real Estate will crash to 2012 Prices. He believes US housing will drop 50%, and this will be the worst housing crash ever. And he suggests that Australians should look back to what their homes or commercial buildings were worth ten years ago, for a prediction on future prices in Oz. And there is a reason for that.
“My biggest concern and I’ve been warning Australians about this for years, is you have one of the biggest real estate bubbles second only to China. So I would be most concerned about real estate.”
Dent believes this is probably the best prediction of how much you could lose in Australian real estate. And unfortunately, he thinks “it’s gonna be more than most people think.”
Harry Dent Predicts a 96% Crypto Crash
Crypto is on the rise after the release of Crypto ETFs across the US stock exchange. But Crypto is not immune from the everything bubble. The Harry Dent predictions for Crypto are described as a “big deal” with a 96% crash. Which is monumental is accurate.
Why Australia is in a Better Position for the Coming Crisis
Dent calls the coming crisis the “Everything Bubble” because stocks and real estate are both peaking at the same time. We have had the best markets, but that has to change. Dent has studied the markets back to when stocks started in the late 1700s. And he predicts the “real danger years are primarily 2024 and probably into 2025”.
He foresees that the United States will never see real estate or stocks at this level again. But Australia has some better news.
“Australia will see a much better comeback from this because it’s on the Pacific Rim. It has much better demographic trends which is my specialty. Australia has not only high quantity but high-quality immigration from Asia.
It seems as though Australia’s friends in Asia will help manage the coming downturn. All we have to do is survive the “danger year” of 2024.
When Will the Biggest Crash of Our Lifetimes Happen?
Harry Dent’s predicted “biggest crash of our lifetimes” will start in 2024, but it will “be more obvious by May”. Dent believes there is “not a chance in Hades” that there will be a mild recession. It’s going to be “a depression within a year”.
He also explains that “Depressions are different from recessions. They go much deeper, and they end up in deflation.” Dent cautioned that the burst of the “everything” bubble will “leave a lasting slowdown impact for 12 to 14 years”.
How To Survive the Coming Collapse
But it’s not all bad news from Harry Dent, because it can be avoided. Dent recommends how to avoid the coming collapse.
“So if you just get out for six to twelve months and stuff stays at the highest valuation history, maybe you miss a little more gains if I’m wrong. If I’m right, you’re going to save massive losses and be able to reinvest a year or year-and-a-half from now at unbelievably low prices. And you can magnify your gains beyond compare.”
Dent suggests that there is a huge opportunity if his prediction and timing are right. The worst-case scenario is you may lose some gains if he is wrong.
Read Peter Schiff’s Gold Prediction which includes 100X Gold, and a claim that he’ll be “laughing all the way to the bank”.
Final Thoughts
Harry Dent has studied markets from the 1700s, and he predicts the long-term bull market will end in 2024. He also suggests that all you have to do “is protect yourself for the next year.” And if he gets this wrong, he will pack up and quit forecasting. He is very serious about this prediction.
There are no certainties with any prediction, but they are worth considering when experts like Harry Dent raise the alarm. Leave a comment below if you agree or disagree with Harry Dent predictions for 2024
M. Moneyman
References
- Harry Dent on 9 News – US economist predicting a major market crash for 2024
- Harry Dent on ITM Trading – US Economist’s Shock Warning: “Biggest Crash in Our Lifetime” is About to Hit, 86% nosedive in S&P
- Harry Dent on Kitco News – Everything Bubble to Finally Burst
