Economist Predicts U.S. Recession, Calls for Immediate 'Debt Detox'

Economist Harry Dent warns of an impending U.S. recession due to high levels of national debt and financial mismanagement. In a recent interview, Dent called for a necessary “debt detox” to navigate out of the current financial bubble and onto a path toward economic growth, referencing the massive $27 trillion in accumulated debt and deficits since the 2008 financial crisis. He criticized the excessive economic stimuli, particularly during the COVID pandemic, as misguided efforts that have exacerbated the debt situation. Dent forecasts that millennials will drive significant spending from 2024 to 2037, but stresses that current debt levels must be addressed to prevent further economic downturns.