#187 Michael Pento: A Triumvirate Of Bubbles Is Creating A Dangerous Situation For Markets And The Economy

Michael Pento, president and founder of Pento Portfolio Strategies (PPS), joins Julia La Roche on episode 187 to discuss a dangerous triumvirate of bubbles in the economy: a real estate bubble, an equity bubble, and a credit bubble. These bubbles have been fueled by 20 years of a negative real Fed funds rate. Pento predicts that these bubbles will burst. He believes that the current situation is very dangerous and could result in a stagflationary environment. Michael also discusses inflation and the erosion of the middle class and the negative implications for the economy. Links:  https://pentoport.com/ https://twitter.com/michaelpento 0:00 Welcome back Michael Pento 1:11 Macro view, most salient chart 1:55 A triumvirate of dangerous bubbles 4:09 Bubbles bursting 7:14 The market has already priced in rate cuts 9:39 Most dangerous time in the markets? 11:10 Where would we be if the free market could exist? 13:19 Bifurcation of the economy 19:44 America is an insolvent nation 21:30 Headed for stagflation 23:12 Election 24:29 Investing 27:50 Gold 28:30 Inflation 30:00 Erosion of the middle class 35:58 What difference would a Fed cut even make? 34:55 US dollar 41:20 Gold is not an investment 43:30 Any hope?

Om Podcasten

Julia La Roche brings her listeners in-depth conversations with some of the top CEOs, investors, founders, academics, and rising stars in business. Guests on "The Julia La Roche Show" have included Bill Ackman, Ray Dalio, Marc Benioff, Kyle Bass, Hugh Hendry, Nassim Taleb, Nouriel Roubini, David Friedberg, Anthony Scaramucci, Scott Galloway, Brent Johnson, Jim Rickards, Danielle DiMartino Booth, Carol Roth, Neil Howe, Jim Rogers, Jim Bianco, Josh Brown, and many more. Julia always makes the show about the guest, never the host. She speaks less and listens more. She always does her homework.