Harry Dent: Gold and Silver Bubbles Next to Burst
Liz Claman of Fox News interviewed Harry Dent yesterday [see video below]. Dent indicated the S&P 500 crossing the 1,130 level was a bad sign for the stock market. He also pointed out that private indebtedness is triple that of the government and there will be a long period of deleveraging. He said investors shouldn’t panic, but wait for a significant bounce before they sell their stocks.
Dent considers gold and silver to be in a bubble which investors shouldn’t buy into. Dent eventually sees the Dow hitting 3,300.