Michael Pento: US Debt Default Through Inflation

Liberty and Finance, Released on 4/17/24 (Recorded on 4/16/24)

While inflation has been over the Fed’s 2% target for over three-years, the central bank is talking about cutting rates. The Fed is the “bankers bank” and operating to help the banks instead of the citizens, says portfolio manager Michael Pento (http://pentoport.com). And the economy is not as strong as the government and mainstream media claim. Those counting on their 60/40 portfolio to secure their retirement are in for a rude awakening, he says.

0:00 Intro
1:20 Economic trends
10:44 Fed speak
14:49 Property illusion
19:19 Preparedness
23:20 Zombie companies
27:11 Pento Portfolio Strategies
33:40 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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