Michael Pento: Trifecta of Bubbles, All At Record Levels

Liberty and Finance, Released on 6/21/24

There is a bubble trifecta: real estate, bonds, and stocks. And every one of these markets is at record levels by any measure. If these bubbles pop, this could be a “wipeout” for the markets, says portfolio manager Michael Pento. While the government has been able to prop up the economy when individual bubbles have popped in the past, “there’s not an easy out this time,” he says. He discusses lies and distortions from the government and how to protect against financial crisis.

0:00 Intro
1:20 Economy’s direction
4:50 Banking system
13:34 Debt levels
15:24 Government lies
19:40 AI & job destruction
22:30 Inflation
29:30 Weekly specials

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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