The economic forecast for 2024 has undergone significant shifts, with lawmakers and the U.S. Federal Reserve anticipating a “soft landing” for the year. The prevailing belief is that while the economy will decelerate in 2024, the slowdown will be relatively mild. Nonetheless, financier and business magnate Gary Cardone predicts an impending black swan event in 2024, one with the potential to disrupt the U.S. general election.
Amid ‘Soft Landing’ Outlooks, Gary Cardone Predicts 2024 Black Swan, Warns of U.S. Election Chaos
The economic prognosis for 2024 presents a diverse picture. While some forecasters see a light to medium downturn, with differing schedules and effects among sectors, others hold a brighter, or at least controllable, outlook dependent on robust monetary strategies and additional elements. For example, a “soft landing” is expected for the U.S. economy, marked by a deceleration but avoiding a full-blown recession. Conversely, economist Harry Dent foresees a substantial market collapse — one potentially surpassing the ‘Great Depression.’
In another instance, renowned author Robert Kiyosaki recently reiterated his assertion of an imminent, vast economic downturn. On Dec. 29, 2023, Kitco News’ Editor-in-Chief Michelle Makori had a conversation with Gary Cardone, who expressed his belief that a ‘black swan’ event is likely to occur in 2024, potentially influencing the U.S. elections. Cardone told Makori, “I’ll be staggered if something substantial, what most people would refer to as a black swan, doesn’t happen” in the forthcoming year.
The concept of a black swan, made famous by Nassim Nicholas Taleb, a finance professor and ex-Wall Street trader, describes an exceptionally rare and unpredictable event that veers far from expectations, with profound repercussions. These events are notoriously hard to foresee yet can wreak havoc on economies and devastate market stability.
A black swan took place on March 11, 2020, when Covid-19 was officially declared a pandemic. Cardone is convinced that such an occurrence is on the horizon for 2024. He’s so confident that he expressed readiness to wager between $50K and $100K that a black swan event of monumental scale, akin to Covid-19 or a “911-type event,” could happen before August 2024.
Cardone posited that its impact would surpass anything previously witnessed. In discussing potential economic choices, he mentioned crypto assets like bitcoin (BTC) but speculated that “gold and silver will grossly, grossly outperform bitcoin” specifically if a black swan event does take place. Cardone, however, is a bitcoin proponent and on New Year’s Eve he penned: “History being made right now – resulting in the greatest wealth/power transfer in human history.”
Cardone also pointed out the deepening rift among U.S. bureaucrats, asserting that “we’re pretty much at war” due to the inability to reach bipartisan agreements. He starkly noted, “We just don’t have muskets pointed at each other yet,” highlighting the severity of political division. He noted that a black swan or a major cyber attack could interfere with U.S. elections in 2024 and he stressed that there could be many volatile triggers.
As 2024 unfolds, it’s clear that the landscape of economic predictions is as unpredictable as ever, with experts divided on the trajectory of the U.S. economy. While some anticipate moderate slowdowns and manageable downturns, others, like Cardone, foresee dramatic, unforeseen events that could reshape the political and economic fabric of the United States. The World Economic Forum (WEF) recently issued cautionary notes about the possibility of a cyber attack, warning that its severity could rival that of Covid-19.
What do you think about Cardone’s opinion that a black swan will come to fruition in 2024? Share your thoughts and opinions about this subject in the comments section below.
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