The Economic winter is coming and when it does the fallout could be worse than even the Great Depression of 1929.

At least, that’s the dire warning from controversial boom and bust forecaster Harry Dent, currently touring Australia with a message to scare the pants off you. If you buy into it of course.

The author of best-selling titles ‘The Great Depression Ahead’ and his recent ‘Zero Hour’ makes a living from prophesising the collapse of financial markets.

In his view, every boom must bust. And the global economy could be on the brink of its biggest bubble collapse ever, he said in an interview with Peter Switzer on Talking Lifestyle’s ‘On the Money.’

According to Dent, this bubble is unlike any before it because governments are unnaturally propping up the economy using quantitative easing.

“Governments are pouring money into the economy. It’s not going to the average person, its going into financial institutions. They leverage up, it’s 0% interest rates. And their driving up stocks,” he said.“The only net increase in buying in stocks… is corporations buying back their own stocks with almost zero cost money. That is a fake boom.”

“So, this bubble doesn’t even have the fundamentals behind it. Which means that when it does burst, it’s going to burst worse than the last bubbles did,” he said.

“And now we get tax cuts when corporate profits to GDP are the highest they’ve ever, ever been. Like these companies really need it.”

He joined Peter Switzer for On the Money to discuss this and his new book Zero Hour.

Whether you believe in his theories or not, Dent certainly believes in himself.

“I can give people what I call a PHD in economics in one day… I don’t know one economist that could even come close to what I predicted,” Dent said.

Whether you believe his predictions or not, one thing that’s certain is he certainly has plenty of faith in himself.

Listen to the full interview above.