Harry Dent: Santa's not coming, '23 will be ugly, buy bonds

Harry Dent, the founder of Dent Research, says that the stock market's troubles in 2022 were just a precursor to real trouble, with the next wave in a downward cycle coming early next year, right after the market wakes up to the fact that there is neither a Santa Claus rally or a January effect to get the new year started on good footing. Dent has been calling for a market decline of 85 percent or more in stocks -- moving from their peak to their trough -- and sees the massive decline being the next step, but he notes that the one silver lining is that bond funds are set up to not only be a safe haven but for significant gains. Also, he notes that once the market completes the crash cycle, he expects the next long bull market to begin. Dent's opinions tend to be outliers, and that is proven on this show as D.R. Barton Jr., chief investment strategist at Finiac, says he actually expects a Santa Claus rally this year, and he believes that technical indicators are showing that a market bottom may already be in place. He expects the new year will be more of the old one, volatile, choppy and with a lot of downward pressure just as we've seen in 2022. Plus, the Book Interview features Howard Yaruss, author of 'Understandable Economics: Because Understanding Our Economy Is Easier Than You Think and More Important Than You Know.'