Worst financial crash in history coming this summer – economist Harry Dent predicts the biggest economic meltdown “in our lifetime”

A major financial crash will likely hit by mid-June, warned Harry Dent, an economist and author of several best-selling books, in an interview on Friday. Dent, who has a history of making controversial predictions, believes that the current market bubble will burst and result in a financial meltdown.

The bubble is a result of the US Federal Reserve’s loose monetary policy, which has artificially inflated the stock market, according to Dent. He expects the S&P 500 to collapse by 86% “in this crash” and the Nasdaq to plummet by 92%.

The crypto market will go into a tailspin alongside stocks, the economist warned, predicting that Bitcoin will tumble 95-96% from its November 2021 high.

“Bitcoin will fall from $69,000 to about three to four thousand,” he said, adding that “It’s exactly what Amazon and the dot-coms did.”

Dent points to what he sees as overlapping crises as the reason for his pessimism. The pandemic shattered the global economy in many ways, leading to job losses and reducing consumer spending. Additionally, unprecedented inflation in most wealthy countries and supply-chain disruptions have sparked serious concerns among investors and economists, forcing them to realize that “this is not a big correction — it is a major crash, one that you have not seen … in your lifetime, and the one that even the millennials will not see a bigger crash than this,” Dent added.