Michael Pento, president and founder of Pento Portfolio Strategies (PPS), joins Julia La Roche on episode 167 to discuss the current state of the economy and the potential risks ahead.
In this episode, Pento highlights the rising inflation rate, the burden on the middle class, and the unsustainable levels of debt. Pento predicts a slowdown in GDP growth and the possibility of a negative quarter in the second half of the year. He believes that the Federal Reserve will be forced to lower interest rates and engage in quantitative easing to stimulate the economy.
Pento also discusses the potential impact on the housing market, equities, and the bond market. He suggests overweighting energy, base metals, and gold in a stagflationary environment.
Links:
https://pentoport.com/
https://twitter.com/michaelpento
00:00 Intro and welcome Michael Reno
00:54 Macro view, inflation, and the bankrupting of the middle class
4:08 If rates don’t come down the economy is in trouble
5:49 Fed rate cuts ahead this year?
8:00 Market is massively overvalued
9:36 Stagflation and how to invest in that environment
11:32 Home prices
13:50 Why Powell can’t wait to end QT now
15:23 Long-term yields might not come down
16:00 Explosion of rates in high-yield will crush the economy
17:27 Gold
20:00 Erosion of the middle class
#037 Axel Merk On The Fed's Sledgehammer Approach To The Economy
#036 Jim Rickards: We're Looking At A Global Recession
#035 Envestnet Co-CIO Dana D’Auria On Personalizing Portfolios
#034 Carson Block On Latest Shorts And The 'Mass Investing Delusion' Of ESG
#033 Jan Van Eck On Why Now Is The Time To Buy Bonds
#032 Scott Galloway: It's Never Been Easier To Become A Billionaire, But It’s Never Been Harder To Become A Millionaire
#031 Danielle DiMartino Booth On Recession, Housing, And Killing The Fed Put
#030 Vitaliy Katsenelson On The 'Dot-Com Bubble 2.0' Ushering In 'A Value Investor's Paradise'
#029 Steve Case On Peak Silicon Valley And The Rise Of The Rest
#028 Dr. Nomi Prins On How The Fed Created A ‘Permanent Distortion’
#027 Rick Rule: The Damage Will Be Severe But Survivable
#026 Brent Donnelly On Why It’s Starting To Feel Like 2001
#025 Alex Gurevich On Why Deflation — Not Inflation — Is The Real Concern
#024 "Convexity Maven" Harley Bassman On Repricing For Reality
#023 Nick Maggiulli On Why You Should ‘Just Keep Buying’
#022 Brent Johnson On The "Dollar Milkshake" Theory And Why A Currency Crisis Is Ahead
#021 Jim Rickards: We're Going To Wake Up This Winter With A Severe Recession
#020 Josh Brown: You Weren’t Supposed To See That
#019 Marty Chavez On How Software Ate Finance
#018 David Friedberg On Reimagining The World Through Decentralization
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