World economy headed for another crash: US guru

[GoFlyKiteNow]

World economy headed for another crash: US guru
22 Jun 2009, 1516 hrs , AGENCIES

MELBOURNE: The world economy will face a crisis in the next two years even bigger than the downturn currently buffeting the global financial
system, a respected US forecaster warned on Monday.

Author Harry S. Dent, who predicted Japan's slide into recession in the 1990s and the present slump, dismissed claims the worst was over for the world economy and that "green shoots" were emerging from the fiscal firestorm.

Dent said the baby-boomer generation was set to cut back on spending, sending the share and property markets into downward spirals that would dwarf the recent recovery.

"We're in the middle of a bear market rally," Dent told the Australian Broadcasting Corporation.

He said share markets were likely to continue to gain in the next few months but would fall again towards the end of the year as the global banking system suffered another meltdown, bottoming out in 2011.

Dent said post-war baby boomers in the Western world were spending less as they aged, in a long-term demographic shift similar to that seen by Japan in the 1990s.

"Peak spending is age 46, so we've been saying for decades, we're going to have this great, great boom and then around the end of this decade baby boomers are going to peak in spending, prepare for retirement," he said.

"(Their) kids are going to leave the nest and the economy's going to slow just like Japan did in the 1990s.

 

[dysentry]

Reading his book now, pretty compelling.

 

[Snipeshot08]

World economy headed for another crash: US guru
22 Jun 2009, 1516 hrs , AGENCIES

He said share markets were likely to continue to gain in the next few months but would fall again towards the end of the year as the global banking system suffered another meltdown, bottoming out in 2011.

Dent said post-war baby boomers in the Western world were spending less as t.

Remember in another post one other guru predicted it will go down from June 09 but this another guru says it will gain in the next few months sigh I sincerely wish those "gurus" can stop their "helpful" predictions.

Most of them are still hoping for a "once correct in one hundred predictions" probability

Hokkien calls it "chee mi kway tok chao mek"

 

[peterlth]

AIYAH, all these so call financial GURU, trying to make themselves famous only lah.

If some how they are right, then they claim to the whole world that they made a sucessful prediction. Then they go around making money by giving talks and writing books.

And if they are wrong, they surely will come out with excuses such as 'the dynamics of the worldwide fragmented capital markets has changed drastically through modified integrated fiscal policies by world bank resulted from the intervention of IMF coupled with the rising India domestic market and decline in european currency rate made possible by fluctation in russian bond yields and stablising japan foreign exchange and debt ... blah blah .... blah ....'. Then they make another prediction ... and another ... and another .... until they are lucky enough to have one becoming correct.

World economy headed for another crash: US guru
22 Jun 2009, 1516 hrs , AGENCIES

MELBOURNE: The world economy will face a crisis in the next two years even bigger than the downturn currently buffeting the global financial
system, a respected US forecaster warned on Monday.

Author Harry S. Dent, who predicted Japan's slide into recession in the 1990s and the present slump, dismissed claims the worst was over for the world economy and that "green shoots" were emerging from the fiscal firestorm.

Dent said the baby-boomer generation was set to cut back on spending, sending the share and property markets into downward spirals that would dwarf the recent recovery.

"We're in the middle of a bear market rally," Dent told the Australian Broadcasting Corporation.

He said share markets were likely to continue to gain in the next few months but would fall again towards the end of the year as the global banking system suffered another meltdown, bottoming out in 2011.

Dent said post-war baby boomers in the Western world were spending less as they aged, in a long-term demographic shift similar to that seen by Japan in the 1990s.

"Peak spending is age 46, so we've been saying for decades, we're going to have this great, great boom and then around the end of this decade baby boomers are going to peak in spending, prepare for retirement," he said.

"(Their) kids are going to leave the nest and the economy's going to slow just like Japan did in the 1990s.