Financial Survival Network, Released on 12/11/20
If bond prices start spiking then look out below. When the Door-Dash’s of the world go up 90 percent in a day, something is amiss. 40 percent of publicly traded companies aren’t making money. 20 percent of them are zombies who can’t even make enough to pay their debt service. People have to have a hedge other than Wall Street’s 60-40 portfolio allocation strategy. Wall Street is betting on the return to normalcy trade. The buy and hold Mantra of Wall Street is sure to fail. When will the next crash come, because it’s going to happen, it’s just a matter of when. Being prepared and hedged is the key to not just surviving but thriving as well.
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.