Michael Pento: The Economy Fell Apart Last Time We Saw THIS
Liberty and Finance, Released on 8/4/22
Total debt to GDP is at the same ratio as in December 2007 right when the economy fell apart, says portfolio manager Michael Pento. He expects a reversal from the Fed later this year or early next. Investors should be extremely cautious during these trying times, he says. "You cannot have an implosion of the great three asset bubbles in history - stocks, bonds, and real estate imploding together - and have a soft landing. It's just not possible."
Articles discussed in this interview:
India launches first international bullion exchange to bring transparencyhttps://www.reuters.com/markets/commo...
GEICO abruptly closes offices across Californiahttps://www.abc10.com/article/news/lo...
0:00 Intro1:32 Economic update5:16 Fed & inflation10:41 Yield curve inversion12:18 Credit freeze19:34 Dollar hegemony23:13 India bullion exchange26:23 State restrictions30:49 Gold & Dollar32:40 Pento online36:13 Miles Franklin
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
Michael Pento: The Economy Fell Apart Last Time We Saw THIS added by Herman James on 08/04/2022View all posts by Herman James ?+'