Inflation DESTROYS All Economies, Here’s Why | Michael Pento

Liberty and Finance, Released on 3/18/24

The US stock market is at higher valuations compared to GDP than in anytime before 2020, says Michael Pento. Not even right before the infamous 1929 crash were valuations so high. At the same time, we continue to see high inflation. “Inflation has destroyed every economy since Roman times,” he says, and expects that, in the long run, the US economy will similarly be destroyed by currency devaluation.

0:00 Intro
1:30 Credit crisis
6:25 Stock market
13:15 Banking system
19:24 Real estate
25:45 Preparedness
30:24 Pento Portfolio Strategies
31:40 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.

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