Economist Harry S. Dent tells Investor’s Business Daily Fiscal Cliff is Least of Stock Market’s Worries
TV talking heads and news headlines are heralding the fiscal cliff's danger to the U.S. economy. But a greater threat lies in wait thanks to the European debt crisis and slowing growth in China, says Harry Dent.
The CEO and founder of HS Dent, a Tampa, Fla.-based economic research and forecasting firm, says we're on the brink of a "global meltdown" once the "debt bubble" explodes, regardless of what happens in Washington. He explains why this is and how ETF investors can protect their money.
Dent developed the Dent Method, which bases economic outlooks on demographic trends.
The Globe and Mail profiles TrimTabs Investment Research Director of Macroeconomics Madeline Schnapp’s original research on US job growth in story, Markets Eagerly Await Job Creation.
"...(O)ne forecasting firm is sticking its neck out and claiming the consensus is way too optimistic. TrimTabs Investment Research projects that the economy added only 124,000 jobs in May, up slightly from the 116,000 created in April. TrimTabs isn't making a wild guess at the number. The research service bases its estimate on an analysis of the daily income tax deposits made to the U.S. Treasury from all salaried U.S. employees, figures that it says are historically more accurate than the initial job estimates made by the Bureau of Labour Statistics.
“Wall Street cheerleaders are ignoring the fact that high unemployment, a depressed housing market, deleveraging consumers, elevated fuel prices, and fallout from the worsening sovereign debt crisis in Europe are keeping the economy mired in slow-growth mode,” said Madeline Schnapp, director of macroeconomic research at TrimTabs, in a commentary accompanying the firm's estimate." Click here for full story
Harry S. Dent interviewed on CNBC by Rick Santelli for Global Market Report discusses question, Can Europe Implement Austerity Without Pain? Dent says that if Spain goes back for second round, Europe's done. Says history and demographics show need for no pain no gain -- stimulus has been putting off eventual recovery. Must go through debt restructuring to get from winter to spring.
Economist/ Author Harry Dent issues a sobering forecast on the path of the markets on Fox Business News with Neil Cavuto.