Wipeout Of Entire Economy | Michael Pento

Liberty and Finance, Released on 11/9/23

Current asset prices and debt levels are at unprecedented bubble territory. If market forces were allowed to work freely and asset prices fell to their fair value, the banking system would collapse, says portfolio manager Michael Pento. It would be a “wipeout of the entire economy.” The alternative is for the Fed to continue to inflate the economy, leading to perpetual stagflation.

0:00 Intro
2:53 Where are we headed?
12:41 Managing assets
24:27 National debt
26:55 Gold update
29:55 Pento Portfolio Strategies
31:37 Miles Franklin

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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