Liberty and Finance, Released on 2/8/24
The Bank Term Funding Program (BTFP) will be ending in March, and the reverse repo liquidity pool is running dry. Portfolio manager Michael Pento (https://pentoport.com) warns that the stock market will feel pressure in the coming months. The real estate market is also in a bubble, and a mortgage crisis worse than 2008 could be devastating for the banking system, he says.
1:18 Stock/bond portfolio
12:20 Inflation & GDP
17:00 Banking system
20:46 Real estate
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.