#187 Michael Pento: A Triumvirate Of Bubbles Is Creating A Dangerous Situation For Markets And The Economy

The Julia La Roche Show

Michael Pento, president and founder of Pento Portfolio Strategies (PPS), joins Julia La Roche on episode 187 to discuss a dangerous triumvirate of bubbles in the economy: a real estate bubble, an equity bubble, and a credit bubble. These bubbles have been fueled by 20 years of a negative real Fed funds rate. Pento predicts that these bubbles will burst. He believes that the current situation is very dangerous and could result in a stagflationary environment. Michael also discusses inflation and the erosion of the middle class and the negative implications for the economy.

Links:

https://pentoport.com/

https://twitter.com/michaelpento

0:00 Welcome back Michael Pento

1:11 Macro view, most salient chart

1:55 A triumvirate of dangerous bubbles

4:09 Bubbles bursting

7:14 The market has already priced in rate cuts

9:39 Most dangerous time in the markets?

11:10 Where would we be if the free market could exist?

13:19 Bifurcation of the economy

19:44 America is an insolvent nation

21:30 Headed for stagflation

23:12 Election

24:29 Investing

27:50 Gold

28:30 Inflation

30:00 Erosion of the middle class

35:58 What difference would a Fed cut even make?

34:55 US dollar

41:20 Gold is not an investment

43:30 Any hope?