Harry Dent Warns of "$700 Gold by 2018"

Crash stories amuse me, especially when they are from someone with a proven track record of being spectacularly wrong.

Investors are fleeing to gold in a desperate attempt to weather the recent market volatility… but is this long time “safe-haven” actually poised to collapse wiping out trillions of dollars of wealth in the process?

One highly respected Harvard economist is stating an emphatic “yes!”.

“While many economists will argue that gold is not in a bubble… and insist it will soar to $2,000, $5,000 and even $10,000, my research has said otherwise” says Harvard economist Harry Dent in his latest report. “I’ve never been more certain of anything in over 30 years of economic forecasting.”

Market volatility, worries over the Europe Central Bank, negative interest rates, and China are among a laundry list of events that are driving panicked masses to buy the yellow metal. But this is only inflating the gold bubble that is poised to pop at any moment, he says.

Dent, who pioneered a whole new science of economic forecasting in the early 1980’s has been able to accurately predict almost every major economic event over the past 30 years. —including the collapse of Japan, The Great Tech Boom of the 1990’s, and the 2008 market crash.

Market Volatility?

Dent is amazingly funny. Volatility has never been lower.

Harry Dent Contrarian Book Covers

Economist Harry Dent made a fortune with a series of 100% ass-backwards books.

Special Talent

Harry Dent has a special talent. Few people are perfect contrarian indicators. Even fewer brag about their success while being 100% wrong.

Mike “Mish” Shedlock

Comments (24)
No. 1-24
El_Ted0
El_Ted0

I remember him from the 90s and his arguments about demographics impacting the markets seemed sound and he was right about Japan. He hasn't been right about much, since.

ppp
ppp

I am surprised the regulatory agencies have allowed him to continue with the rubbish procrastinations he puts forward.

Jcbl
Jcbl

When you see the words "highly respected, noteworthy, etc. Harvard Economist" you can save yourself much angst if you just stop reading. Take a walk instead. You will be just as well informed and will feel better as well.

Mike Mish Shedlock
Mike Mish Shedlock

Editor

In the article, he said don't buy gold, buy this instead. I clicked on the link and he never said what "this" was. It was an ad and the page would not easily let you go.

Realist
Realist

Whether you are hosting a blog or want to hawk books - sensationalism sells. Its not about being right or wrong. Its about getting people to notice. Dent has made a lot of money selling books. He has probably lost money following his own advice.