'The worst crash in our lifetime': One market expert says stocks are screaming towards a Great Depression-like setup in early 2021 — and warns an 80% to 90% plunge isn't out of the question
, Dent thinks the central bank's future effectiveness will be reduced to nil at a time when markets need it most.
"We had this first crash and of course they stimulated their way out of that," he said. "They'd done everything, but each stimulus has to be stronger. And I think they lose control."— the outspoken investor and former professor who's been predicting a stock-market collapse. In a recent client note, Hussman exclaimed: "The Fed has encouraged a maladaptive confidence that risk does not exist. This overconfidence of investors is itself a threat to their survival," adding, "It should not be a surprise that I expect the S&P 500 to lose about two-thirds of its value over the completion of the current market cycle," in a separate note.
"You know what happens? And I've got a 90 year cycle, which is right on 1929 with this one. When this happens, you don't get a 30 or a 50% stock correction. You get 80 to 90," he said. "I don't care what age you are, but particularly if you're over 30 or 40, you will never see a high this high again in real estate or stocks, you will lose almost all your financial assets and they'll come back much more slowly." Something is loading.
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