Harry S. Dent Interviewed on Straight Talk Wealth

Harry S. Dent was interviewed on Straight Talk Wealth last week — follow link for the HD footage of the interviews.

Here's the summary of one-hour in-depth interview:
  • Introduction about Harry's background, and the effectiveness of contrary thinking
  • Is the government making things better?
  • It's generational cycle of spending that is ending, and a cycle of saving beginning.
  • Goes into much detail to explain how he conducts his forecasts (demographics and another indicators he uses) and why most other economists are wrong.
  • The interviewer does a good job at asking HSDent to explain why he made a call for the Dow to reach 40,000 and why this forecast failed.
  • Discusses past bubble, speculative behaviours
  • Government's behaviour, their role in creating the bubbles and inflation
  • His views on how to solve the crisis — write down the debt, deleverage. Along with some comments about what the government should do, but with which I do not agree as they are not based on free market principles.
  • Why the Fed created bubble will pop and the markets crash
  • Why we'll going to deflate, why deflation shouldn't hurt people, only creditors if they admitted they have to write down the debt.
  • What will happen in the Eurozone with the current debt crisis: nothing will save Greece unless they write down the debt by at least 60%, no stimulus or bandaid will fix the problem.
  • Doesn't like Treasuries, Silver, Gold (for the wrong reasons in my opinion).
  • The healthcare and tax systems are so broken, they cannot be repaired, we need to start over from scratch.
  • We'll have a major change in the next 10 years, almost as big as a new Constitution.
  • We'll see the end of Keynesian economics (I would LOVE to see that happen).
The videos are embedded below:

I've read his books, and it's a great and cheap way to get access to all the HS Dent data, charts and understand their methodology. I would definitely recommend them.

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