Liberty and Finance, Released on 10/4/24

Michael Pento of Pento Portfolio Strategies discusses the implications of the Federal Reserve’s recent interest rate cuts, asserting that these measures are insufficient to address the underlying economic issues, including asset bubbles in real estate and equities. He emphasizes that despite a nominal decline in inflation, many Americans continue to struggle with rising costs of living, as wages fail to keep pace with soaring prices. Pento argues that the Fed’s actions may actually exacerbate these bubbles, potentially leading to severe economic consequences. He also explores the bullish outlook for gold and silver, suggesting that as confidence in the fiat system wanes, tangible assets become increasingly valuable. As the conversation wraps up, Pento provides insights into the likely economic landscape through the end of the year, hinting at ongoing challenges and a slowdown in growth.

0:00 Intro
1:15 Fed rate cut
10:52 Gold update
12:53 Trifecta of bubbles
21:50 Economic outlook
26:18 Pento Portfolio Strategies
27:02 Weekly specials

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.

  economy, gold, investing, precious metals, silver