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Michael Pento: Stocks "Running On Fumes", Risk Of A 30-80% Crash

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Manage episode 428852914 series 3548516
Content provided by Adam Taggart | Thoughtful Money. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Adam Taggart | Thoughtful Money or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Federal Reserve Chair Jerome Powell testified in front of Congress this week to defend his current monetary policy. While we don't have the results of that testimony as of the time of this recording, Powell has recently stated that he is now seeing the kind of disinflationary path for the US economy that he's wanted to. This of course has Wall Street salivating again that rate cuts are near at hand. Are they? For perspective, we're fortunate today to talk with money manager Michael Pento, president of Pento Portfolio Strategies. Michael warns that we have the most overvalued stock market ever, and the liquidity that drove it to today's extremes is starting to run out. In his words "We're running on fumes". And stocks are at risk of correcting 30-80% from here. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com #bearmarket #marketcrash #marketcorrection --- Support this podcast: https://podcasters.spotify.com/pod/show/thoughtful-money/support
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142 episodes

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Manage episode 428852914 series 3548516
Content provided by Adam Taggart | Thoughtful Money. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Adam Taggart | Thoughtful Money or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Federal Reserve Chair Jerome Powell testified in front of Congress this week to defend his current monetary policy. While we don't have the results of that testimony as of the time of this recording, Powell has recently stated that he is now seeing the kind of disinflationary path for the US economy that he's wanted to. This of course has Wall Street salivating again that rate cuts are near at hand. Are they? For perspective, we're fortunate today to talk with money manager Michael Pento, president of Pento Portfolio Strategies. Michael warns that we have the most overvalued stock market ever, and the liquidity that drove it to today's extremes is starting to run out. In his words "We're running on fumes". And stocks are at risk of correcting 30-80% from here. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com #bearmarket #marketcrash #marketcorrection --- Support this podcast: https://podcasters.spotify.com/pod/show/thoughtful-money/support
  continue reading

142 episodes

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