The Julia La Roche Show, Released on 7/30/24

Michael Pento, president and founder of Pento Portfolio Strategies (PPS), joins Julia La Roche on episode 187 to discuss a dangerous triumvirate of bubbles in the economy: a real estate bubble, an equity bubble, and a credit bubble. These bubbles have been fueled by 20 years of a negative real Fed funds rate. Pento predicts that these bubbles will burst. He believes that the current situation is very dangerous and could result in a stagflationary environment. Michael also discusses inflation and the erosion of the middle class and the negative implications for the economy.

0:00 Welcome back Michael Pento
1:11 Macro view, most salient chart
1:55 A triumvirate of dangerous bubbles
4:09 Bubbles bursting
7:14 The market has already priced in rate cuts
9:39 Most dangerous time in the markets?
11:10 Where would we be if the free market could exist?
13:19 Bifurcation of the economy
19:44 America is an insolvent nation
21:30 Headed for stagflation
23:12 Election
24:29 Investing
27:50 Gold
28:30 Inflation
30:00 Erosion of the middle class
35:58 What difference would a Fed cut even make?
34:55 US dollar
41:20 Gold is not an investment
43:30 Any hope?

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.

  asset bubbles, gold, investing, stagflation, stock bubble, us dollar, us economy