Commodity Culture, Released on 10/4/24

Michael Pento poses the question: Is the U.S. going to end up like Japan or Zimbabwe, amidst record levels of debt and deficits, never-ending money printing, raging inflation and evisceration of the middle class by power mad politicians and policy makers? Either way, Michael explains why he wants to be holding gold, along with shedding light on where he’s both long and short the market heading into perhaps the most polarizing presidential election in modern history.

00:00 Introduction
00:34 Fake Economic Data
06:53 Oil Price Spike Ahead?
10:33 I’m Loaded Up on Gold
14:04 Resurgence of Inflation
17:07 Effect of Election on Markets
20:35 I’m Long These Assets
23:06 Where I’m Shorting the Market
23:52 Broad Market is Extremely Overvalued
26:27 When is It Time To Buy Commodities?
28:22 Looking Outside the U.S.
29:56 Those Who Say the Economy is Strong

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.

  gold, recession, us economy