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Michael Pento – Upcoming Economic Data Rancid Beyond Belief; Maniac Money Printers Gone Mad Fighting China Virus

USA Watchdog, Released on 2/15/20

Money manager Michael Pento predicts, “The economic data for the next few weeks, at a minimum, is going to be rancid beyond belief. I would be very cautious in thinking that the trading algorithms and the tape reading machines on Wall Street are going to ignore all of that, especially if this virus starts to spread to other nations in a more significant manner. Then it’s going to be game over.”

Pento likes gold and silver and recommends some in every portfolio. Pento is overweight gold between the two metals. Pento also predicts a “global recession in 2020” if the China virus does not get fixed soon. Pento also predicts massive amounts of global money printing will increase to fight the China virus and a coming global recession.

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.

One Response to Michael Pento – Upcoming Economic Data Rancid Beyond Belief; Maniac Money Printers Gone Mad Fighting China Virus

  1. Paul Reply

    02/16/2020 at 7:46 pm

    I just listened to Mike Pento talking to Greg Hunter. Usually I agree with most everything Pento says, however in this interview on Feb 16, 2020, I have to call BS on a statement Pento made. He stated that the Wuhan Coronavirus has a lower kill rate percentage than SARS did. That’s irresponsible when you don’t have a clue. I’m guessing he’s using someone else’s quote rather than really studying the numbers himself. Just using the official numbers debunks that narrative.
    We know that some people have no symptoms for 24 days after they catch the virus. We know that some take over 10 days to die after getting the symptoms. Understanding that on any day that the official statistics are reported, they are counting infected people that are comprised of people that just caught the virus and people that are about to die, hence we can’t use 34 days as the average time it takes form infection to death, but rather the mid point between a quick infection leading to death in 10 days and a long infection of 34 days before death, for an average of 22 days from catching the virus until a victim dies. From what I’ve read, it doesn’t appear that the average recovery time is longer than the time it takes to die after being infected. If you go back on the official time line 22 days, it looks like near 100% are dying. I know that is not possible because most that die never had a test before they died. You can’t use official numbers of 1000 infected and a total of 10 dead on the same day and claim a 1% kill rate. You have to use the average days it takes to die and go back in time to see what the total infection number on that day was and divide that number into the number of deaths 22 days in the future.
    Another metric to use to try to get a half way accurate kill rate, is to use the official numbers times 9, which is a rough guesstimate of the under reported ‘suspected cases’ a funeral home manager stated in one batch of cremated bodies, 6 were confirmed cases and 48 were tagged suspected cases. For weeks now the crematoriums have been burning 1000 to 2000 a day more than the official number of deaths reported. This addition of deaths creates far more dying than than the official number of those recovering…so way over 50% kill rate.
    If you think the Chinese would freak out over about 40 deaths (the official number before the lock down) and lockdown a city of 13 million, you’ve got to know they’re hiding something from us.
    Another very troubling fact is that, the Chinese have failed to release the actual number of ‘suspected cases’ that died in December when all the cases were being called unspecified type of Pneumonia. More than anything Xi fears ‘out of control chaos’. His lies might be warranted, considering what would happen if people knew the truth
    Oh, one other thing…Pento’s calling for a world wide recession if this thing spreads world wide. I think recession is a cop out, more like world wide depression dude. Please don’t sugar coat stuff like our worthless governments. It might get you more people that need an active investment portfolio manager but I caution people not to short stocks when a debt jubilee might be in the cards. This S–t show is about to die.

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