Mind Over Market

Harry Dent, founder and CEO of HS Dent, is author of a new book, The Great Crash Ahead. He sees an economic and market crash between 2012 to 2014. As baby boomers pay down a sizable chunk of $42 trillion in private debt in the United States to deleverage, this will be an ever growing deflationary force. Baby boomers around the world will start saving and stop driving up consumption. Because of this deleveraging, Dent warns that a debt crisis is coming back stronger than ever. Dent does not believe that efforts of central banks to inflate and provide stimulus to the economic to counteract this trend will fail. "In the United States, we keep taking viagra and nothing much happens." He predicts gold will crash after rising to $2,000. Silver has already peaked, Dent said. The U.S. dollar's role as the safe haven currency will be strengthened. That is because, as private debt is paid off, it makes dollars more scarce, and it restores value to the dollar, he explain...

Jim Rogers, ceo of Rogers Holding, says that when the next crisis comes around, the United States will be in far worse shape than in 2008, according to an interview on CNBC with Maria Bartiromo. Rogers says that we need to cut the budget drastically. Rogers calls Fed Chairman Ben Bernanke a "disaster," who has gotten nothing right since he came to Washington. "He doesn't understand finance. He doesn't understand currency. He doesn't understand the economy," Rogers says of Bernanke. Bernanke only knows about printing money as a way to address problems, so he will revert to QE3, further weakening America's debt position, according to Rogers. He predicts the dollar is going to crash while the Chinese yuan will become a safe currency. If gold and silver correct, Rogers recommends buying more. Rogers is shorting technology stocks.