Harry Dent : Greece Cannot pay its Debt & will Benefit from Grexit

Harry S. Dent Jr. & Chris Waltzek - July 9, 2015.




Summary:

    Economist and best-selling author Harry S. Dent Jr., returns with comments on the latest Grexit drama, noting a default is imminent.
    A bankruptcy will benefit the nation as forced fiscal responsibility curtails government profligacy.
    The only country to effectively ameliorate the debt problem is Iceland, which defaulted on foreign debt shielding constituents from predatory lending practices.
    The Icelandic economy has emerged from the malaise intact and better prepared to thrive in an increasingly complex / competitive global-economic landscape.
    Their remarkable saga is an ideal precedent / case study / blue print for officials in the BRICS nations as well as the US / EU / Japan.
    Given that the EU has never faced a financial crisis of such magnitude, the lack of precedent is disturbing to top money managers and economists.
    If Greece were to leave the union, other members with similar debt issues could soon capitulate triggering a cascade of similar debt crises resulting in a fractured EU, with regional sovereign currencies.
    As a seasoned traveler in high demand on the public speaking circuit around the world, our guest outlines his ideal destinations, including his home in Puerto Rico and his favorite country, Australia.
    Harry S. Dent Jr. is anticipating a US stock market correction of 15-20% in the summer / fall months. He's convinced that all market bubbles must return to their inception point.
    The US housing bubble has not yet returned to the year 2000 levels, increasing sector risk.
    The host proposes that the massive shadow inventory held on bank balance sheets will eventually enter the marketplace in tandem with the millions in hedge fund housing-inventory, opening a price sinkhole across the nation and a credit crisis part deux.
    The host notes the alarming void of understanding regarding fiat money schemes and their onerous track records.
    The only viable alternatives, gold and silver, will eventually reflect their true intrinsic value, potentially hundreds of fold higher than current prices.

Economist and best-selling author Harry S. Dent Jr., returns with comments on the latest Grexit drama, noting the situation is more significant than implied by mainline media reports - a default is imminent. Still, in the long-term horizon, a bankruptcy will benefit the nation as forced fiscal-responsibility curtails government-profligacy. He notes that the world is awash in bad debt and officials refuse to write-off the toxic loans. Yet due to a disconnect between lenders and the system, the losses are averted, indefinably. The only country to effectively ameliorate the debt problem is Iceland, which defaulted on foreign debt shielding constituents from predatory lending practices. Having taken the prescribed panacea, after two years of major adjustments, the Icelandic economy has emerged from the malaise intact and better prepared to thrive in an increasingly complex / competitive global economic landscape. Their remarkable saga is an ideal case study / blue print for officials in the BRICS nations as well as the US / EU / Japan. Given that the EU has never faced a financial crisis of such magnitude, the lack of precedent is disturbing to top money managers and economists. If Greece were to leave the union, other members with similar debt issues could soon capitulate, triggering a cascade of similar debt crises resulting in a fractured EU with regional sovereign currencies. As a seasoned traveler in high demand on the public speaking circuit around the world, our guest outlines his ideal destinations, including his home in Puerto Rico and his favorite country Australia. In addition, Scandinavian countries such as Sweden and Norway have extraordinary maternity benefits to the benefit of their workforce and demographics. Harry S. Dent Jr. is anticipating a US stock market correction of 15-20% in the summer / fall months. He's convinced that all market bubbles must return to their inception point. While similar to the internet stock bubble of the late 1990's, the US housing bubble has not yet completely deflated back to year 2000 levels, making the sector risky. The echo housing recovery is predicated on collaterlized MBS debt, similar to the gimmicks that lead up to the original housing crisis of 2008. The host proposes that the massive shadow inventory held on bank balance sheets will eventually enter the market in tandem with the millions in hedge fund housing inventory, opening a massive price sinkhole across the nation and a credit crisis part deux. The host notes the alarming void of understanding regarding fiat money schemes and their onerous track records. Despite protestations of naysayers, when faith is lost in paper money, currencies will be anathema to wealth preservation oriented investors - the only viable alternatives gold and silver will eventually reflect their true intrinsic value, potentially hundreds of fold higher than current prices.









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