Although news regarding the economy has been somewhat cautiously hopeful in recent months, most people haven’t even really begun to shake off the pall of a few years of economic turmoil and a relatively sucky overall decade- but if some experts on the economy are correct, the worst is ahead of us when it comes to stock market and general economic pain.
The dissolution of the housing bubble was only one of the things that caused a spiral of financial woe both in the US and outside it, and one expert says that the worst aftereffects of bad debt are still to come. USA Today quotes Harry Dent, who authored a book on the very subject entitled The Great Crash Ahead. Dent has pushed his predictions back, but says that the stock market is in for a rough ride after 2012:
“[Dent] has pulled back on his earlier prediction of a crash in 2012, as central banks around the world have been flooding markets with money, giving stocks an artificial short-term boost. But a crash is coming in 2013 or 2014, he warns. “This will be a repeat of 2008-09, only bigger, when it finally hits,” Dent told USA TODAY.”
Gerald Celente, a trends forecaster, has been banging the stock market doom drum for quite some time, and also sticks to his predictions not only of trading calamities, but also social unrest, according to the piece. Celente foresees an impending “economic 9/11” stemming from lawmakers inability or unwillingness to deal with the problem. He says:
“2012 is when many of the long-simmering socioeconomic and political trends that we have been forecasting and tracking will climax. When money stops flowing to the man on the street, blood starts flowing in the street.”
Are you worried that the economy is too shaky to fully recover in coming years? Do you think the world economy is facing future stock market crashes and unrest as the situation persists?