Click Here To Download And Read The Transcript.pdf

84a59b13c2f473f8276028fba6fe067b4b17e6dd.pdf
Preview of Click Here to Download and Read the Transcript
🔗 Source: retirementlifestyleadvocates.com
📊 Size: 210 KB
👤 Author: Mark Klipsch
⬇️ Downloads: 186

Summary

Michael Pento discusses the US economy, stating it was in a recession earlier in 2023, but the Fed's actions delayed it. He believes the recession is coming due to a "triumvirate of asset bubbles" in real estate, bonds, and stocks. Global debt has reached $305 trillion, with $17 trillion in negative-yielding debt, which has falsified the cost of money and led to record borrowing. The US national debt is $33 trillion, with a record $700 billion annual interest expense, which will jump to 35% of revenue in the next couple of years. Pento predicts the economy will weaken swiftly, with interest expenses rolling over at higher rates, and a collapse of the bond market, leading to higher interest rates and a potential depression in housing activity. He also discusses the challenges of refinancing $7.6 trillion in debt in the next 12 months, with the added burden of a $2 trillion deficit, and the potential for the bond market to implode, causing Jerome Powell to lower interest rates reluctantly due to high inflation.

Description

Michael Pento discusses the US economy, stating it was in a recession earlier in 2023, but the Fed's actions delayed it.

Technical Information

  • File Format: PDF
  • File Size: 210 KB
  • Pages: 11
  • Language: EN
  • Author: Mark Klipsch
  • Total Downloads: 186
  • Last Updated: 10 hours ago

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