Is the recovery real? Are stock prices telling us that the “All Clear” has been sounded? Are we finally out of the economic woods? Harry Dent brings you up to date in his latest video (October 2009).
The Ticking Time Bomb:
Even though we’re recovering because of the stimulus, and the leading indicators are suggesting we’re gonna continue to recover into early next year, for now, we keep seeing loan defaults and foreclosures. One of the things we’ve noticed is that half the houses that have technically defaulted haven’t even moved into foreclosure yet so there’s a backlog and a lag on that.
Unemployment and continued layoffs continues to trigger defaults.
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Next year is not going to be the year of recovery that most economists are promising.
Watch Harry Dent’s Economic Update:
Yeah, maybe this, maybe that, maybe Dow 10K, 12K, 8K, short, don’t short
HS Dent, what pathetic clueless display. Now he is maybe relying on H&S, what a hoot. Have you no shame
HD makes good points. The market is digesting the stimulus and it’s always looking ahead. However, I agree that the defaults will put big pressure on banks again and we should be heading down soon.
It can’t be easy trying to forecast short-term movements in these markets, that’s for sure. I don’t think anyone has been able to predict the stock market a few weeks or months out, recently. Dent’s long-term forecasts are solid though, in my opinion…
His points are already understood and known, no insight.
Dent is the same guy predicting Dow 25K, and buy pullback when14k broke, and then lowered forecast to at least Dow 17K, which we know opposite happened.
And now… he’s forecast is depression like downward trend.
We can easily put USD on the gold standard, making USD, gold, and DOW surge past 30K. This is just an easy scenario as things deteriorate DOW to 3K.
Out of 10 forecasts, Dent maybe gets 3 right. Now he’s peddling his new book about depression. He has no shame.