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Economist Reveals How to Turn Political and Financial Upheaval to Your Advantage

November 16, 2017
Staff

WRITER

Economist and bestselling author Harry S. Dent, Jr. joined Glenn on radio Thursday morning to discuss his new book, Zero Hour: Turn the Greatest Political and Financial Upheaval in Modern History to Your Advantage.

Listen to the interview above or read the transcript below. Here's the teaser for his latest book:

About the Author

Harry S. Dent, Jr. studied economics at Harvard in the ‘70s, but found it vague and inconclusive. He became so disillusioned by the state of his chosen profession that he turned his back on it. Instead, he threw himself into the burgeoning new science of finance where identifying and studying demographic, technological, consumer and other trends empowered him to forecast economic changes. He is a lecturer, bestselling author and founder of Dent Research, which publishes several influential financial newsletters.

GLENN: All right. I've got somebody that's going to scare the hell out of you.

STU: Wow. I can't wait.

GLENN: Yeah. Yeah. Kids will mess with the environment. Actually we're looking at priorities. Harry Dent is the author of a new book Zero Hour, which I've read. And it will scare the hell out of you. Scare the hell out of you. Because it has a lot of charts and graphs and everything else.

Harry has been on with us many times. He's the guy that predicted the 2008 struggle and what we're going through right now. This is a book on how to turn the greatest political and financial upheaval in modern history to your advantage. Harry Dent Jr. is with us now. Hello, Harry, how are you?

HARRY: Oh, hi, Glenn, good to be back.

GLENN: So, Harry, I know you have a lot of charts and graphs, but I have a lot of questions that I think you're going to be able to actually answer for me.

There is a story that I saw on Business Insider and a couple of other places today, that the stocks are flashing ominous signals. Not seen since the financial crisis. And one of them is the -- Stu, help me out. The Hindenburg omen. And the other is the Titanic Syndrome. A, do you find any credibility in either of those, and what do they mean if you do?

HARRY: The Hindenburg, yes, I do track that. And there have been many, many more signals on that. Much more than usual. That is not a guarantee of a crash. The more important thing I've been looking for, Glenn, because you know I've been talking that this bubble is going to burst at some point. It's going to burst violently when it does. It's the only way it happens in history. The Dow transports are tanking while the Dow Industrials keep edging up. That is a big diversion, and the small --

GLENN: Wait. What does -- what does that mean to the average person? Explain that.

HARRY: Well, it means -- okay. If the industrials are going up, it means, okay. We're still producing stuff. But the transport is not going up. Yeah, but we're not distributing them. People aren't buying it.

And when the small caps go down, in which they've down recently. They're down 4 to 5 percent, with the Dow up. It says, hey, the smart money, who buys small caps because it takes more sophistication, they're getting out of the market, while the everyday person, which buys Apple and GE and all the big names, that's what they know. They're piling -- those are the two diversions I've been looking for. They are starting to show warning signals.

You know, I take that more seriously than the Hindenburg. Because the Hindenburg can happen a lot and still not get a crash, although it's a sign it is more likely.

This is the biggest thing I look for. And this is starting to happen. I think we're in a topping process between October and December and January. And I think the thing, Glenn, that I warn people -- because everybody says, well, Harry, if this things going to burst, I'll just wait till there are signs and when my stockbroker tells me to get out. First of all, your stockbroker will never tell you to get out.

GLENN: Yeah.

HARRY: When bubbles crash, and I've averaged every major bubble in the last century -- the first crash tends to be 41 percent in two and a half months, so it's too late when that happens. Better to get out a little early and be cautious. So I think these warning signs are saying that we are getting close. If you look at the chart -- I mean, this is just like -- we said in November, as soon as Trump got elected against the odds -- and, of course, we were warning that was likely because of this populist movement we were seeing happen. We said, hey, we're going to have another 20, 25 percent rally.

Even though I had been talking about -- this market says, it is going up. It is expecting a big tax cut, but we've seen that rally. And it has been 20 to 25 percent since then. So I think this is -- we're getting very near atop. And when this thing goes and people say, oh, governments won't let this happen. Governments create the damn bubble. You know, they created the roaring 20 bubble. And then the Great Depression.

The fed was created in 1913. And then 20 to 30 years later, you get the Roaring Twenties and the greatest depression of all time, because they boosted up the economy artificially, by cutting rates, cutting rates. Making money cheap. Free money always creates bubbles. Well, that's what they've done here. So for somebody to say, oh, the central banks, the federal reserve won't let this market crack, they're the ones that have created this extreme thing. Stressed the market so far. And when they go, it's like a rubber band, going to the extreme. I'm just telling people, I didn't create this bubble. Get out of the way.

GLENN: Okay. So, Harry, we've been warning about this for a long time. I thought we were not as resilient as we are.

I expected this thing to come crashing down just because of the money printing and the extraordinary levels of debt, which -- not just the government debt. But the debt that we have as Americans. Our credit card debt is, what? 119 billion. And -- and we're starting to default on those. And people have jobs now.

I expected this to go a lot earlier. Why do you think it's this time?

HARRY: Well, you know, it's hard to argue with $14 trillion of free money being created. It's hard to argue with mortgage rates that are 4 percent, when they ought to be 6 percent. Car loans are, you know, two to 3 percent, and they ought to be six to seven.

I mean, everybody is getting a free lunch here. And stocks are going up 20 percent a year, instead of the normal 7 percent adjusted for inflation. You know, everybody is getting a free lunch. You know, mortgage -- housing is going up 10 percent, instead of the 3 percent inflation. So everybody is getting a free lunch. And it makes everybody kind of high. I don't know a better way to say it. And people don't want to hear the bubble is going to burst. I get lambasted all the time. And I'm like, look, I'm just the messenger. I've studied history. Bubbles build. They're totally recognizable.

I have a whole bubble model that tells you how it's going to build, how much it's going to crash, how long it's going to take to crash. There's nothing black swan about these bubbles at all. It shouldn't be a surprise. People go into denial because they don't want it to end because everybody is getting something for nothing. So governments don't want it to end.

GLENN: So you put -- the reason why your book I think is accurate on at least diagnosing the problems is you have several chapters on -- on revolution. And the world is going into revolution.

HARRY: Yeah.

GLENN: Most people are not -- they're absolutely denying what is happening. Even the Trump thing was a revolution. And it has just begun. It's only going to get worse. Tell me -- give me the highlights of your take on what's happening globally.

HARRY: Well, you know, I had been talking about for a long time, yeah, we're going to have a crisis financially just because we've got bubbles and debt bubbles. And these things are totally predictable. But I've also been saying we have a 250-year revolution coming. The biggest thing to happen in all of modern history was when Sally met Harry. Free market capitalism met democracy, in the late 1700s.

I mean, that's the biggest thing that's happened ever. And this is going to happen again. And the reason I pushed this book. And this book focuses more on the political side of what I'm talking about, is because I've been waiting for signs. It was Brexit. And it was the surprise Trump election. That told me, okay. The political side of this is starting to happen. And this is going to take decades. We've got a backlash against globalization. The special interests have total taken over democracy. Central banks have totally taken over free market. We're destroying the golden goose that made us rich in the first place, since the late 1700s. And all of modern progress has come since those two things came together. This is going to be that big or bigger. And this is going to go down in history. And people aren't going to realize it until later. We're telling you now. This is going to happen. It's going to be unsettling. It's going to change a lot of things.

You know, we really need a bottoms-up economy. Get out of all this top-down management. All this social and financial engineering, where economists try to create La La Land, with three or four percent growth and two percent inflation, which is the worst thing you can do for the economy. You have no innovation when that happens. Japan has had no innovation for 30 years. No growth for 30 years. Because they've been living off of quantitative easing.

GLENN: But, Harry, you and I know that, a lot of this audience knows that, but that is not where the world is headed. They are -- trust me, even Donald Trump, we go through a Great Depression, and Donald Trump will be FDR. He will.

He will not cut it back. He will become the great state that will take care of everyone. And if he won't do it, there will be somebody there to promise it. Socialism is popular now.

HARRY: It is. And we've been living on more than that for now nine years, with all this quantitative easing and free money.

The problem, Glenn, is this, governments created this. Central banks created this bubble, extended it, took it to extremes. And when it burst, it is going to be out of control. It is going to be impossible to stop. And they're going to lose credibility. My theory is central banks, of course they're going to want to -- they're going to want to do ten times the quantitative easing. It's just people are going to say, hey, you already did that, and it failed. Why would we believe you this time?

I think governments are going to lose credibility. I think central banks are going to lose credibility. And that's a good thing. That's -- that's the revolution, when people say, cut off their heads. We don't want anymore of this baloney.

GLENN: We're going to get into the he says there's six triggers. And then there's some safe havens for you. We'll get into that here in just a second. Harry Dent Jr. the name of the book is Zero Hour.

The Deep State's NEW plan to backstab Trump

Brandon Bell / Staff | Getty Images

We cannot make the same mistake we made in 2016 — celebrating victory while the deep state plots its next move.

In 2016, Donald Trump shocked the world by defeating Hillary Clinton. Conservatives cheered, believing we’d taken back the reins of our country. But we missed the bigger battle. We failed to recognize the extent of the damage caused by eight years of Barack Obama and decades of progressive entrenchment. The real war isn’t won at the ballot box. It’s being waged against an insidious force embedded deep within our institutions: the administrative state, or the “deep state.”

This isn’t a new problem. America’s founders foresaw it, though they didn’t have a term for “deep state” back in the 1700s. James Madison, in Federalist 48, warned us that combining legislative, executive, and judicial powers in the same hands is “the very definition of tyranny.” Yet today, that’s exactly where we stand. Unelected bureaucrats in agencies like the Environmental Protection Agency, the Department of Energy, and the Department of Justice hold more power than the officials we vote for. They control the levers of government with impunity, dictating policies and stifling change.

This is the fight for the soul of our nation. The founders’ vision of a constitutional republic is under siege.

We’ve felt the consequences of this growing tyranny firsthand. During COVID-19, so-called experts ran our lives, crushing civil liberties under the guise of public safety. Our intelligence agencies and justice system turned into weapons of political warfare, targeting a sitting president and his supporters. Meanwhile, actual criminals were given a pass, turning American cities into lawless war zones.

Thomas Jefferson wrote in 1816 that “the functionaries of every government have propensities to command at will the liberty and property of their constituents.” Today, we see Jefferson’s prophecy fulfilled. The deep state exercises unchecked power over our freedoms, and information itself is controlled by the fourth branch of government: the legacy media.

Even when we win elections, the deep state doesn’t concede defeat. It switches to survival mode. Trump’s first term proved this. Despite a historic mandate to dismantle the bureaucracy, the deep state fought back with everything it had: leaks, investigations, court rulings, and obstruction at every turn. And now, with the possibility of Trump returning to office, the deep state is preparing to do it again.

Progressives are laying out their attack plan — and they’re not even hiding it.

U.S. Rep. Wiley Nickel (D-N.C.) recently boasted about forming a “shadow cabinet” to govern alongside the deep state, regardless of who’s in the White House. Nickel called it “democracy’s insurance policy.” Let’s be clear: This isn’t insurance. It’s sabotage.

They’ll employ a “top down, bottom up, inside out” strategy to overwhelm and collapse any effort to reform the system. From the top, federal judges and shadow officials will block Trump’s every move. Governors in blue states like California and New York are gearing up to resist federal authority. During Trump’s first term, California filed over 100 lawsuits against his administration. Expect more of the same starting January 20.

From the bottom, progressive groups like the American Civil Liberties Union will flood the streets with protesters, much as they did to oppose Trump’s first-term immigration reforms. They’ve refined their tactics since 2016 and are prepared to unleash a wave of civil unrest. These aren’t spontaneous movements; they’re coordinated assaults designed to destabilize the administration.

Finally, from the inside, the deep state will continue its mission of self-preservation. Agencies will drag their feet, leak sensitive information, and undermine policies from within. Their goal is to make everything a chaotic mess, so the heart of their power — the bureaucratic core — remains untouched and grows stronger.

We cannot make the same mistake we made in 2016 — celebrating victory while the deep state plots its next move. Progressives never see themselves as losing. When they’re out of power, they simply shift tactics, pumping more blood into their bureaucratic heart. We may win elections, but the war against the deep state will only intensify. As George Washington warned in his Farewell Address, “Government is not reason, it is not eloquence — it is force; and force, like fire, is a dangerous servant and a fearful master.”

This is the fight for the soul of our nation. The founders’ vision of a constitutional republic is under siege. The deep state has shown us its plan: to govern from the shadows, circumventing the will of the people. But now that the shadows have been exposed, we have a choice. Will we accept this silent tyranny, or will we demand accountability and reclaim our nation’s heart?

The battle is just beginning. We can’t afford to lose.

Editor's Note: This article was originally published on TheBlaze.com.

Drone mystery exposes GLARING government incompetence

Gary Hershorn / Contributor | Getty Images

The drone issue is getting way out of hand.

Earlier this month, Glenn first reported on the mysterious drones stalking the night sky over New Jersey, but the situation is increasingly concerning as the sightings have escalated. Not only have drones been seen across the Northeast Coast, including over New York City, Maryland, and Pennsylvania, but recently, they have been spotted over the night skies of San Diego and other parts of Southern California.

It doesn't take an expert to identify the potential dangers and risks that dozens of undetectable, unidentified six-foot or larger drones pose to national security. Yet, our government's response has been one of unimaginable incompetence, leaving us to speculate on the origin and intention of these drones and wonder in astonishment at the government's ineptitude. Here are three examples of the government's lackluster response to the mystery drones:

Iranian Mothership and Missing Nuclear Warheads

- / Stringer | Getty Images

After several weeks of hubbub, New Jersey Representative, Jeff Van Drew gave an interview on Fox News where he claimed that the drones originated from an Iranian "mothership" off the East Coast of the United States. This theory has since been disproven by satellite images, which show that all Iranian drone carriers are far from U.S. shores. Another theory suggests that drones may be equipped with sensors capable of detecting nuclear material and that they are looking for a nuclear warhead that recently went missing! With these apocalyptic theories gaining traction in the absence of any real answer from our government, one can't help but question the motive behind the silence.

Pentagon's Limp Wristed Response

Alex Wong / Staff | Getty Images

In a recent press conference, national security spokesman John Kirby responded to reporters demanding answers about the government's lack of transparency, which has caused increasing public anxiety. He insisted that the drones did not pose a threat and were not assets of a foreign power, such as from Iran or China--even though he is still uncertain about their identity and origin. He also claimed that many of the sightings were simply misidentifications of normal aircraft.

This lackluster answer has only further inflamed national anxieties and raised even more questions. If the government is unsure of the identity of the drones, how do they know if they are a threat or if they aren't foreign assets? If they aren't foreign, does that mean they are U.S. assets? If so, why not just say so?

The Pentagon has also stated that they are leaving it up to local law enforcement to spearhead the investigation after concluding that these drones pose no threat to any military installation. This has left many feeling like the federal government has turned a blind eye to a serious issue that many Americans are very concerned about.

Where's Pete Buttigieg?

Chip Somodevilla / Staff | Getty Images

We are in the closing weeks of the Biden administration, and with the finish line in sight, Secretary of Transportation Pete Buttigieg probably figured nothing else could go wrong on his watch—but boy was he wrong. As Secretary of Transportation, Buttigieg is in charge of the FAA, the agency responsible for managing all air traffic across the nation. One would think that mysterious, 6-foot-long, seemingly intractable drones are invisible on radar and flying above major cities would pose a serious threat to the myriad of legal aircraft that traverse our skies. Yet, Buttigieg has been silent on the issue, adding another failure to his resume which includes: malfunctioning airplanes, the train derailment in Ohio, and the Baltimore Key Bridge collapse, just to name a few.

Glenn: How Alvin Bragg turned hero Daniel Penny into a villain

Michael M. Santiago / Staff | Getty Images

We cannot allow corrupt institutions to punish those who act to protect life and liberty.

America no longer has a single, shared understanding of justice. Two Americas now exist, each applying justice differently depending on who you are and where you live. One America, ruled by common sense and individual courage, praises heroes who stand up to protect others. The other, driven by political agendas and corrupted institutions, punishes those same heroes for daring to act.

This stark division couldn’t be clearer than in the case of Daniel Penny, the Marine whose trial in New York City this week drew strong reactions from both sides across the divided line of justice.

If we let this slide, we accept a world in which heroes are treated as criminals and the law is a weapon for ideological warfare.

Penny was on a subway train last year when Jordan Neely — a man suffering from severe mental illness and reportedly high on drugs — began threatening passengers, saying, “I’m going to kill you all.” The fear on that subway car was palpable, but nobody moved. Nobody, that is, until Penny did what needed to be done. He took action to protect innocent lives.

In the America many of us used to believe in, Penny’s response would be heralded as heroic. His actions mirrored the courage of Todd Beamer on Flight 93, who, on September 11, 2001, rallied others with the words, “Let’s roll,” to prevent further tragedy. But in New York, courage doesn’t seem to count anymore. There, the system turns heroes into villains.

Penny subdued Neely using a chokehold, intending only to restrain him, not kill him. Tragically, Neely died. Penny, filled with remorse, told the police he never meant to hurt anyone. Yet, instead of being recognized for protecting others from a clear and present threat, Penny stood trial for criminally negligent homicide.

In Alvin Bragg’s New York, justice bends to ideology. The Manhattan district attorney has made a career of weaponizing the law, selectively prosecuting those who don’t fit his narrative. He’s the same prosecutor who twisted legal precedent to go after Donald Trump on business charges no one had ever faced before. Then, he turned his sights on Daniel Penny.

A jury may have acquitted Penny, but what happened in New York City this week isn’t justice. When the rule of law changes depending on the defendant’s identity or the prosecutor's political motives, we’re no longer living in a free country. We’re living in a state where justice is a game, and ordinary Americans are the pawns.

The system failed Jordan Neely

It’s worth asking: Where were activists like Alvin Bragg when Neely was suffering on the streets? Jordan Neely was a tragic figure — a man with a long history of mental illness and over 40 arrests, including violent assaults. The system failed him long before he stepped onto that subway train. Yet rather than confront that uncomfortable truth, Bragg’s office decided to target the man who stepped in to prevent a tragedy.

This isn’t about justice. It’s about power. It’s about advancing a narrative where race and identity matter more than truth and common sense.

It’s time to demand change

The Daniel Penny case — and others like it — is a wake-up call. We cannot allow corrupt institutions to punish those who act to protect life and liberty. Americans must demand an end to politically driven prosecutions, hold DAs like Alvin Bragg accountable, and stand up for the principle that true justice is blind, consistent, and fair.

If we let this slide, we accept a world in which heroes are treated as criminals and the law is a weapon for ideological warfare. It’s time to choose which America we want to live in.

Editor's Note: This article was originally published on TheBlaze.com.

CEO Brian Thompson's killer reveals COWARDICE of the far-left death cult

Jeff Swensen / Stringer | Getty Images

Early on the chilly morning of Wednesday, December 4th, Brian Thompson, CEO of health insurance giant, UnitedHealthcare, was walking through Midtown Manhattan on his way to a company conference. Suddenly, a masked and hooded figure silently allegedly stepped onto the sidewalk behind Thompson, drew a 3-D printed, silenced pistol, and without warning fired multiple shots into Thompson's back before fleeing the scene on an electric bicycle. After a multiple-day manhunt, a 26-year-old lead suspect was arrested at a McDonald's in Altoona, Pennsylvania after being recognized by an employee.

This was not "vigilante justice." This was cold-blooded murder.

As horrific as the murder of a husband and father in broad daylight in the center of New York City is, the story only gets worse. Even before the murder suspect was arrested, left-wing extremists were already taking to X to call him a "hero" and a "vigilante" who "took matters into his own hands." Even the mainstream media joined in on the glorification, as Glenn pointed out on air recently, going out of the way to show how physically attractive the murder suspect was. This wave of revolting and nihilistic fanfare came in response to the findings of online investigators who surmised the murder suspect's motives to retaliate against healthcare companies for corruption and denied coverage. The murder suspect supposedly underwent a major back surgery that left him with back pain, and some of his internet fans apparently viewed his murder of Thompson as retribution for the mistreatment that he and many other Americans have suffered from healthcare companies.

The murder suspect and his lackeys don't seem to understand that, other than depriving two children of their father right before Christmas, he accomplished nothing.

The murder suspect failed to achieve his goal because he was too cowardly to try.

If the murder suspect's goals were truly to "right the wrongs" of the U.S. healthcare system, he had every tool available to him to do so in a constructive and meaningful manner. He came from a wealthy and prominent family in the Baltimore area, became the valedictorian at a prestigious all-boys prep school, and graduated from the University of Pennsylvania with a master's in engineering. Clearly, the murder suspect was intelligent and capable, and if he had put his talent into creating solutions for the healthcare industry, who knows what he could have accomplished?

This is the kind of behavior the far-left idolizes, like communists on college campuses who wear shirts that celebrate the brutal Cuban warlord, Che Guevara. Merchandise celebrating the UnitedHealthcare CEO murder suspect is already available, including shirts, hoodies, mugs, and even Christmas ornaments. Will they be sporting his face on their T-shirts too?

This macabre behavior does not breed creation, achievement, success, or life. It only brings death and risks more Americans falling into this dangerous paradigm. But we still have a chance to choose life. We just have to wake up and take it.