Wipeout Of Entire Economy | Michael Pento
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.
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INTERVIEW TIMELINE:
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
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