Below is an excerpt of a very interesting article of Harry Dent via TheGoldReport.
I highlighted the most interesting things, as they align perfectly with my vision:
In this Gold Report interview, Dent predicts a global crash between mid-2013 and early 2015, in an ongoing decade of economic coma. For now, gold and gold equities are great investments, but when the crash comes, read on to find out what he suggests will be a good sector until the echo generation enters the workforce and starts buying potato chips and houses.
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Recently, Japan’s strategy has been to print enough yen to push down its currency to increase exports, even though its domestic economy is dying due to an aging population, bad demographic trends and super-high debt ratios. By doing this, Japan is starting the next trade war. Other countries will respond by lowering their currencies and doing more stimulus. If you keep doing this, the whole thing will break down at some point.
The question is when. We think the next breakdown will start in late 2013 or early 2014.
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TGR: Roller coasters can be scary things. Unless you are looking in the rearview mirror, how do you know when is the high and when is the low?
HD: It is not easy. We predict that the Dow could go as high as 15,000 this year before dropping to 6,000 in early 2015. Nobody can predict the exact top or the exact date.
You can only guess by seeing when investors are overly bullish or bearish and when patterns are stretching on.
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According to your research, when will enough young people be in the workforce earning money, buying potato chips and houses to pump up the economy again?
HD: We are looking for that to happen in the early 2020s.
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Your key goal should be to protect the gains you made in the greatest global bubble boom in history. Get out, keep cash and wait for the next big crash. Then buy at $0.20 or $0.40 on the dollar. What could be better than that?
