Glenn sat down with world renowned economist Harry Dent on Wednesday to discuss signs of an impending economic crash that could drive America into the next Great Depression.
Known for successfully predicting economic trends over the past 30 years --- including the housing bubble of the last decade --- Dent's latest prediction was startling to say the least.
"The DOW is going to crash to a degree we haven’t seen since the Great Depression," Dent said.
He went on to describe how demographic cycles are largely responsible for long-term changes in the economy, although governments can artificially delay certain consequences temporarily.
Using what he referred to as the Hierarchy of Macroeconomic Cycles, Dent pointed out four key cycles which dictate the ups and downs of economies in developed countries.
1. The 39-year Generational Spending Wave.
2. The 36-year Geopolitical Cycle.
3. The 45-year Innovation Cycle (NEW).
4. The 8-13-year Boom/Bust Cycle (average 10 years).
Screenshot / TheBlaze TV
Dent told Glenn the most critical piece of information was that all four cycles have entered their downward phase, which will last at least until late 2019, he said.
"As we move through the latest iteration of this phenomenon, we can expect another major catastrophe to slam into us before any one of these cycles turns the corner and begin to head back up," Dent said.
But not everything is "doom and gloom." The good news with all four cycles pointing down together now is that they all head up together as well, Dent explained.
"It's during such 'up' times that we see the markets and economy boom," Dent said.
Glenn asked Dent flat-out whether the next economic bubble-burst will be deeper or longer than the Great Depression. Watch Dent's response in the clip below.
Dent reiterated his belief that bubbles always burst. It's just what they do, he explained.
So when is the next economic bubble going to burst?
"I don't know exactly when it's going to happen, but the signs I'll talk about --- it looks like it's getting ready," Dent said. "I think this summer, you're likely to see some fireworks."
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Featured Image: Screenshot / TheBlaze TV