Financial Survival Network, Released on 10/15/20

It’s amazing how Americans and people around the world accept the same line of garbage; the cure to the economic crisis is actually the disease. Ever escalating debt is what got us into this mess in the first place. And as usual, the powers that be solution is ever more debt at an ever accelerating pace. Does that even remotely make any sense?

Intractable inflation, a bond death spiral, constant monetization will eventually result in Fed not being able money to print our way out of it. Right now, Apple’s 10 year bonds yield is below the 10 year Treasury. Jerome Powell wants higher inflation, perhaps double digit and with the cooperation of the Congress and the President he will get it. Paying people to lay fallow and not produce is clearly not the path to prosperity. And that’s where we find ourselves now.

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.

  debt, inflation, money printing