Michael Pento - Make No Mistake, This Is A Depression

SBTV speaks with Michael Pento, Founder of Pento Portfolio Strategies, about the worsening state of the global economy. With 30 million people made jobless within weeks, Michael has no doubt that the economic depression is here.

Discussed in this interview:02:27 Unemployment rose faster than during the Great Depression09:55 Balance sheets of the world is being destroyed13:26 Why a bigger monetary bazooka from the Fed now compared to 2008?17:09 Pension funds in danger19:42 Fed bailing out zombie companies24:23 Die if you print money, die if you don't28:05 Prepare for the coming storm30:48 Is gold nationalization by the government still a threat?

Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the NYSE. He is the author of The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market.