US economists predict: "The most severe market crash in history" will occur in 2026

HS Dent Investment founder Harry Dent recently warned that the worst market crash in history will arrive in 2026. Dent predicts that the current market bubble, which has lasted nearly 17 years, will burst, leading to a 90% decline in the stock market. He describes it as the worst market environment since the Great Depression.
Notably, Dent dismisses the view that "speculative overheating is limited to artificial intelligence(AI)." He states that stocks, real estate, and digital assets are all deeply trapped in a "super bubble" driven by debt. Dent explains, "But this bubble is different because it expanded rapidly from 2009 onwards, without allowing a recession to fully clear out debt and various issues; it took off directly and has continued until now." The American economist traces the start of this cycle back to the period after the 2008 financial crisis and believes that policymakers have prevented the natural reset of the economy through monetary intervention.
Specifically, the global economy should have experienced a longer downward adjustment similar to the 1930s, but aggressive deficit spending accelerated the expansion process. Dent states that early 2026—especially January—will be a critical period to determine whether the bubble will finally burst or be extended for another year. The reason is that, based on historical experience, a strong performance in the first week and month of January in the stock market often indicates a bullish trend for the entire year; but if January performs weakly, it will further confirm his bearish outlook.
Dent emphasizes that every major speculative bubble ultimately ends in devastating losses, and he believes this time will be no exception. He says, "Bubbles will eventually burst, and this one has already become absurd." Dent concludes that the only asset likely to "survive" is US Treasuries, "because they can print money to pay them off." On this point, the economist seems to disagree with some other well-known economists, including Peter Schiff(Peter Schiff). Schiff recently predicted that in 2026, there will be an unprecedented collapse of the US dollar.(Dongxin News Agency)