Michael Pento - Nucleus of the Next Economic Crisis is the Threat of Junk Bonds

Returning SBTV guest, Michael Pento of Pento Portfolio Strategies, believes the nucleus of the next economic crash is the threat of junk bonds. Michael sees a 100% chance of a 25 basis point cut by the Federal Reserve on 31 July.

Discussed in this interview:01:33 Update on the yield curve inversion03:46 Fed will inject monetary stimulus07:00 100% chance for Fed rate cut10:34 What would prick the Everything Bubble?12:13 Nucleus of the next crisis is the threat from junk bonds15:29 Why are recessions outlawed by central banks?18:26 Judy Shelton supporting the Gold Standard21:20 Buy gold because the money printing game is over

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.