Renowned economist Harry Dent warns of an impending stock market crash.

Dent predicts an 86% drop in the S&P 500 and a 92% drop in the Nasdaq Composite.

He attributes the bubble in asset prices to loose monetary and fiscal policies over the past decade.

These policies were fueled by trillions in stimulus and prolonged low interest rates.

Dent believes the market correction could occur as early as early to mid-next year.

The Federal Reserve's tightening of monetary policy to combat inflation is seen as a trigger.

Despite Dent's warnings, the broader market remains optimistic about a soft landing.

The market expects positive growth and job additions.

The article also references past major financial crises and their global economic impact.