Greg Hunter interviews Michael Pento, money manager, author of "The Coming Bond Market Collapse", and founder of Pento Portfolio Strategies, about the economy and what he forsees due to rising interest rates.
Topics:
- (00:26) What could go wrong with rising interest rates? -- credit risks and insolvency concerns;
- (01:18) What kind of insolvency concerns? -- possibility of investors losing 24% of their value in risk-free U.S. Treasury bonds;
- (05:13) Who is the most insolvent? -- U.S. debt is seven times revenue, U.S. is technically insolvent along with Europe and Japan -- Possibility of bond market panic coming;
- (09:16) Are you saying the collapse has started?;
- (12:20) What would happen to the housing market? -- bond prices and equity prices in freefall -- worse than the 1970's;
- (16:06) Is the debt just going to be wiped out? -- 10% of the world's corporations don't have enough to cover interest expenses -- millions of jobs lost;
- (18:30) What do the central banks do? -- Universal basic income -- U.S. Personal savings rate at all-time low -- Central banks could again cap bond yields;
- (21:33) Are you saying there is no way out for the central banks, hyperinflation or total collapse? -- Volatility will pick up dramatically;
- (23:07) How do you protect yourself? -- (No clear answer to the question) -- government sanctioned cryptocurrency coming;
- (25:11) What about the tax cuts and other measures taken? -- still no fiscal responsibility;
- (27:22) What should normal people do? -- own some gold, the time to overweight in gold is coming (fall 2018);
- (30:00) Michael Pento banned from mainstream media (propaganda) business shows;
- And more...
33 minute video by Greg Hunter published 20 February 2018
Link Associated with this Interview
Rising Rates Forecast Insolvency – Michael Pento
Source:
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