With little attempt to soften the blow, Dent (The Great Depression Ahead) and Johnson use demographics to predict that the Dow Jones Industrial Average will drop to approximately 3,000 between late 2012 and late 2014, while house prices will fall between 55% and 65% before the crisis ends. At the end of their spending lifecycle, aging Baby Boomers are avoiding conspicuous consumption and heavy credit card debt, and saving for retirement, rather than investing in college educations, or making large real estate purchases. By the time readers absorb the theory of seasons of inflation over an 80-year cycle, problems with the Fed, and unfunded liabilities in all strata of government, they may feel that the best place for their money is in a sock under the mattress. However, Dent and Johnson offer suggestions for surviving the next decade, as well as a few simple (perhaps obvious) ideas to solve national problems, including Social Security and the mortgage crisis. (Sept.)
"Dent brings more very convincing analysis on the unbearable debt that is weighing down the US and world economy. But more important, he brings the unique lens of demographics to show how the Fed's stimulus plan is doomed to fail with the rising savings and slowing spending of the massive Baby Boom generation. A must read book for prospering in the inevitable debt crisis ahead."
John Mauldin, 4 times New York Times best selling author of Endgame and financial newsletter publisher of Thoughts from the Frontline and Outside the Box
“I have watched Harry Dent's unique demographic approach to the economy and his forecasts for over 20 years. He has seen most of the key economic changes way ahead of most. In fact, he forecast the current economic crisis 20 years ago! He has spoken at many of my events around the world and has helped many prepare for the unprecedented economic challenges we are facing today. But perhaps the best thing about Harry is his very human, understandable and common sense approach to economics.”
- Anthony Robbins, Entrepreneur, Author and Peak Performance Strategist
“You can't accuse Harry Dent of being a wimpy thinker. His new book is full of confident analysis and bold predictions. Whether he will be right about all of it, who can say? But his core theme is fascinating and provocative; his book is a delight.”
William Bonner, President and CEO of Agora Inc.; author of Dice Have No Memory and Empire of Debt
“While being one of the most bullish and accurate forecasters for 20 years, Dent has always been warning that this great boom would end around 2008-2009. He now sees a bigger crash ahead and a deflationary environment that could ravage your portfolio. His warnings and predictions are well worth reading and taking seriously.”
David Bach, #1 New York Times bestselling author of Start Late, Finish Rich and Debt Free for Life
“The Great Crash Ahead” sounds ominous, but it doesn't have to be if you know what factors to look at when making new decisions about your career, your investments and your business model. The old remedies won't work anymore, but visionaries Harry Dent and Rodney Johnson provide their unique insight on how to make your future a prosperous one.
Ed Slott, CPA, author, IRA expert, creator of PBS Special “Stay Rich Forever and Ever”
“Dent is the reigning expert in using sophisticated demographic models to see around the economic corner. He saw the boom of the 1990s and warned that a bust would come in 2008 forward. Now he tells us the worst is not over. Harry makes a clear and compelling case for what could be a tough time ahead.”
Robert D. McTeer, Distinguished Fellow, National Center for Policy Analysis, and former president of the Federal Reserve Bank of Dallas