Retirement Lifestyle Advocates, Released on 8/28/22
The stock market today, at 170% of GDP, is not in any regards reflective of the underlying conditions of global central banks tightening into a worldwide recession. This statement from Michael Pento, our guest this week on Retirement Lifestyle Advocates radio. Your host, Dennis Tubbergen, talks with Pento about the comparison of today’s equites market to the 140% gap in the 2000 tech stock bubble, and the 104% gap in the 2008 real estate bubble, and the potential for a deflationary depression.
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.