Michael Pento: Global Recession & How Not To Get Crushed Financial

Liberty and Finance, Released on 1/20/23 (Recorded on 1/17/23)

We are headed into a global recession, says portfolio manager Michael Pento. He expects an intermediate term rally in the US dollar. In this environment, he is more bullish on gold than the miners, since recessions are not positive for stocks. He cautions those holding stocks and bonds for the long-term. “Buy and hold does not work,” says Michael Pento. Investors have to understand the macroeconomic environment in these times, he says, and have a dynamic portfolio.

0:00 Intro
3:00 China reopening
11:51 Precious metals
14:29 Disinflation
17:20 Labor market
26:02 Stock market
32:45 Pento Portfolio
34:55 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.

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Karl Graz

Thank you for your views, Mr. Pento. I’ll take them under advisement.

By the way…..you seem very sure of yourself. Do you reimburse your clients if your “models” and “strategies” prove to be dead wrong?

(I just love it when he throws around terms like “second derivative”!)


The Chinese economy had one of its worst performances in decades last year as growth was dragged down by numerous Covid lockdowns followed by a deadly outbreak in December that swept across the country with remarkable speed.
China grew 3 percent for the year, numbers released Tuesday show, much less than in 2021 and short of Beijing’s target of 5.5 percent. Other than 2020, it was the most disappointing showing since 1976, the year Mao Zedong died, when the economy declined 1.6 percent.