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
#073 Chris Whalen On First Republic Collapse And Why More Banks Will Fail
#072 Christopher Zook: A Recession Is Coming And It’s Going to Be Deeper and Longer Than People Think
#071 ‘The Patriot Economy’: Omeed Malik On The Rise Of A New Economy In Response To ESG
#070 Axel Merk On Why Banks Are 'The Big Elephant In The Room'
#069 Joseph Wang On Why A Decade Of Persistently High Inflation Is Ahead
#068 Ray Dalio On Where We Are In The Changing World Order
#067 Jeff Snider: Markets Are 'Screaming Bloody Murder' And Are Hedged For A 2008-Style Scenario
#066 Bethany McLean On The Rise Of Legal Fraud
#065 Mark Yusko: We Are On The Precipice Of The Global Financial Crisis II
#064 DoubleLine's Ken Shinoda On Macro, Housing, And The Opportunities In MBS
#063 Jonathan Boyar On Finding Value During Uncertain Times
#062 Jim Rickards: ‘Are You Kidding Me? This Is The Biggest Bailout In History’
#061 Willem Middelkoop On SVB Collapse, The Big Reset, And The Financial Endgame
#060 Tom Lee On Why Stocks Are Already In A New Uptrend
#059 Larry McDonald: We've Permanently Come Into A New Higher Interest Rate Regime And Trillions Are Currently Misallocated
#058 'Lunatic Farmer' Joel Salatin On The Only System That Can Ultimately Feed The World
#057 Milton Berg: How To Spot ‘Turning Points’ In The Markets
#056 Sam Burns On Being More Bullish On Equities In At Least A Year
#055 Jim Grant: Disinflation For The Short Run, Inflation For The Long Run
#054 Ted Oakley: A Long Way To A Normalized Investing Environment Post ‘Super Bubble’
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