Posted 4/10/2024, 5:35:00 PM
Economist Warns Massive Bubble and Ballooning Debt Could Spark 2023 Recession
- Economist Harry Dent warns the US has a "massive financial asset bubble" and "super high debt levels" that could lead to a recession
- Dent blames overstimulating the economy during COVID, leading to over-investment, over-spending, and over-borrowing
- The national debt has ballooned to over $34 trillion and continues growing rapidly
- Dent predicts the Fed will have to "hammer down" with more rate hikes, likely causing a recession in early-to-mid 2023
- According to Dent, the government has interfered with the economy, not allowing a "debt detox", making the situation worse