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?