The Trump victory-fueled, post-election market rally has investors cheering for now.
However, outspoken economist Harry Dent is still bearish about America’s private debt and the future of its economy, arguing that the euphoria won’t last long.
“I can tell you one thing: bubbles never, ever end well. There’s no way to go from [an] extreme bubble and have a soft landing. Now, that’s what seems to be happening right now, and we’ll see. But I tell people, give [it until] 2025,” Dent told Fox News Digital one week after Election Day.
“I think the truth will be told next year whether they can let down this bubble without causing a crash, because I can tell you, [it’s] never happened in history. And I can’t even compare past bubbles to this bubble, given how global and pervasive it is.”
Former President Trump’s victory over Vice President Kamala Harris in the 2024 presidential election catapulted U.S. stocks to record highs, fueling the best week for the market of the entire year.
Even so, Dent isn’t budging from his June prediction that an “everything” bubble could burst in mid-2025.
What’s more, he now argues that Trump’s fiscal policies won’t be enough to prevent a cyclical crash tied more to private than federal debt.