We’re heading for the biggest crash since the great depression and it’s just around the corner, according to Harry Dent.
He’s doing a virtual seminar telling anyone who’s prepared to listen that we’re headed for a stock market crash, a major depression, and the value of your home dropping 40-50%.
Today we’re going to have a chat with Harry Dent, and I’m also going to have a talk with Pete Wargent.
Before we get into the interview, a word of warning.
Especially for the fainthearted. Harry makes some really scary predictions.
Please listen to the whole interview, and don’t sell up your assets before you listen to my views and Pete Wargent’s.
- Why Harry thinks that we’re approaching an economic winter with fallout worse than the Great Depression
- Why Harry believes we’re in a bubble
- Whether bubbles have to burst – can’t they just deflate?
- What the demographics are indicating will happen next to our economy
- The trigger that will burst the bubble
- Whether Harry believes there are safe ways to invest
- What business owners should be doing right now
- What Harry sees happening to the property market in Australia
- How immigration underpins Australia’s real estate market
- The upsides that Harry sees on the other side of the downturn
- What Harry would say to people who heard his previous predictions
- The message that Harry has for Australians in his virtual seminar
- What a bubble really is and what happens when one bursts
- Whether the average Australian household has taken on too much debt
- The government’s current response to the crisis
- What the government has learned from previous downturns
- When the recovery will begin
- How Australia’s demographics compare to other countries
- The soundness of Australia’s banking system
- What could cause a collapse in the value of property in Australia
- Australia’s culture of homeownership
- Where there are likely to be the most difficulties in the property market
Links and Resources:
Pete Wargent’s new book Low Rates High Returns
Some of our favourite quotes from the show:
“Well, we have some features of a bubble, yes, but we’re actually not in a bubble.” – Michael Yardney
“Here we’ve got 70% of properties owned by homeowners, half of them without debt, and those of them that do have debt, it’s in the hands of those who can afford it.” – Michael Yardney
“In the rest of the world, a lot of people expect to be tenants all their life; here in Australia people would rather eat dog food than give up their homes.” – Michael Yardney
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