Salient to Investors:
Harry Dent and Rodney Johnson write:
- We are entering the last stage of the 80-year New Economy Cycle
- Commodities topped in 1920, 1951 and 1980.
- The spending cycle is 39 years and the commodities cycle is 30 years.
- Gold will fall to $750
- The US economy will enter deflation
- The Dow will fall to 3300 by late 2014
- Unemployment will rise to 15%
- House prices will fall 30%
- Personal bankruptcies and foreclosures will soar because consumers have too much debt – $140,000 per capita,
- State and municipal governments will default
- The federal deficit will rise to $3 trillion due to revenue shortages.
- The global credit crisis will continue. Spain is next.
- Real estate and credit markets will under-perform for most of the next 13 to 14 years.
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