Extreme Debt Levels to "Wipe out Middle Class" with Michael Pento

Interview recorded - 7th of May, 2024
On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Pento. Michael is the President & Founder of Pento Portfolio Strategies.
Michael Pento serves as the President and Founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm (RIA) that operates like an actively managed fund without all the expenses. The Model Portfolio uses a proprietary macroeconomic model to determine when and how to invest across an inflation/deflation and economic cycle spectrum. The 20-component model is used to determine the two most important factors when it comes to successful investing: the second derivatives of growth and inflation.
0:00 - Introduction
2:07 - Current outlook on the markets?
4:49 - Why is economy looking strong?
7:25 - Global economy
9:47 - FED have to drive economy into ground?
10:51 - Surprised that FED is dovish?
18:28 - How is Michael positioning himself?
20:18 - What will the FED do?
24:35 - One message to takeaway from our conversation?
Michael Pento -
Website - pentoport.com/
Twitter - michaelpento?lang=en
LinkedIn - / michael-pento-a1882917b
WTFinance
Instagram - / wtfinancee
Spotify - open.spotify.com/show/67rpmjG...
iTunes - podcasts.apple.com/us/podcast...
Twitter - / anthonyfatseas
Thumbnail image from - fortune.com/recommends/bankin...

[@WTFinancepodcast]

Can Powell have it both ways - defeating inflation while not bailing out big business?

[@adyear3168]

No.

[@bpb5541]

No

[@brandon_youtube]

Is the end game a regional banking crisis larger than the ones we've recently seen? With 4k plus commercial banks I wouldn't b surprised if consolidation was afoot over the next 5 years 🤔

[@mackakiwinz4353]

Love Mike he is a smart realist. Here in New Zealand most of us are getting smashed. Food,energy,property rates and insurances, gas and everything essential has skyrocketed while incomes and wages are stagnant except our politicians who have just received 10% pay increases! Raise rates and incentivise saving and call in the debts and let the zombies both personal and commercial fail and enable the younger generations to get ahead rather than turning to gangs and crime which have dramatically increased in the last few years here in NZ. No longer are we a “safe” country. Thanks guys please have Mike back soon he is one of the few living legends who speaks the truth 🙏

[@bver1149]

❤MAga made ardern go away?

[@HANZELVANDERLAAY]

Yup... government pay up ... typical around the world

[@WTFinancepodcast]

Sorry to hear about the challenges in NZ, seems to be similar to what’s happening in AUS and globally. I imagine it’s amplified with property in Auckland as well. If only they listened, but I don’t think they’ll make any changes against this current system. Thanks for watching, appreciate it!

[@JustPhil-yw6bt]

It's always good to hear what Pento has to say. I think he's one of the sober voices that we should be listening to. Keep up the great work, Anthony!

[@WTFinancepodcast]

Agreed, Pento is one of the best! Thanks for watching and appreciate the support.

[@JohnDaniels]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson

[@billcarney829]

I just love Michael's no-nonsense answers, opinions and analysis. He speaks with a zero fog index. I think that my cat would clearly understand him. He is the exact opposite (think George Costanza in the Seinfeld episode "The Opposite") of everyone in Washington DC.

[@fsaldan1]

Not really. He is Washington DC taken to the extreme. Total denial of reality. Deflation would bankrupt the US government very quickly. GDP could drop 30%.

[@WTFinancepodcast]

Agreed! None of the jargon which they use to confuse or divert, just straight facts. Thanks for watching!

[@theinflationsituation8870]

"You can't have it both ways, Jerome." - Mr. Michael Pento 😎

[@WTFinancepodcast]

Let’s hope Jerome listens to this! Thanks for watching.

[@victorsperandeo3609]

Your channel is terrific and you being the ultimate English gentleman makes it a pleasure to watch .

[@WTFinancepodcast]

Thank you so much, appreciate the support and kind words 😊

[@michaellalyons5037]

Love this guy! If only monetary and fiscal policy ran according to Michael P.

[@WTFinancepodcast]

Thinks would be a lot more certain, but Washington would never allow it. Thanks for watching, appreciate it!

[@gh-dw3tg]

Reckless spending with disregard to inflation makes the people upset. The wages are not keeping up with it. And their answer to this is to raise the debt limit, save the market, spend on other countries, and the banks, and PRINT and SPEND more. Mr. Transitory is no Volcker....he sure want to sound like one but no. He just destroyed the middle class. Fantastic guest....Love Pento.

[@kimberlyjones4534]

Great content mike. I’m favored financially with Bitcoin ETFs approval, Thank you buddy. $12,000 monthly profit regardless of how bad it gets on the economy.

[@BeckyThacher]

Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor 1 totally agree with you

[@CharlieMorgan-bi4xr]

YES!!! That’s exactly her name (Audrey Lauren ) so many people have recommended highly about her from Brisbane Australia…🇦🇺

[@Estela543]

I’m a long term investor, I withdrew my profits of over £61,000 during the COVID 19 pandemic …. From Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿

[@jeffmatt]

She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States…

[@andersonanita8294]

This sounds so good and I would like to be a party to this, is there any way I can speak with her?

[@nitdiver5]

Michael Pento is great to listen to.

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊

[@bver1149]

Pento❤powerful❤

[@hcp8212]

The host has amazing energy and has a very bright future with the way his articulates himself. Wish the best for him, also very informative guest.

[@joshuaburns3167]

Michael Pento would make s good Treasury secretary for RFK Jr. They're both very smart.

[@RyanTucker-jw8dn]

Michael is fun to listen to, and he knows a lot about Stocks and Blondes!

[@RobWilliams007]

Love Michael

[@dustynn.9030]

Loved this. Thx.

[@Houthiandtheblowfish]

great

[@15vimford]

keep up the good work on your passion

[@Psariman]

I love your videos!

[@brandon_youtube]

Wise message at the end. The easy money is over so active trading is necessary. The Japan comparison is interesting but how comparative is that with the US holding the worlds reserve currency status. That changes the dynamics of a 1:1 comparison with Japan surely...

[@jimscherer8072]

Michael loves America and all people. I believe he does.

[@zeeshanijaz2870]

I love Mike. Paints a real picture unlike many others

[@WTFinancepodcast]

Agreed, Mike is one of the best at explaining what’s happening. Thanks for watching, appreciate it!

[@bernadettebecher4689]

Thank you for the interview.

[@sherriehunter-henry6245]

Keep up the good work

[@snowyskylar8821]

Excellent video

[@sadasivbehera7789]

I’m up 94% on my AMSRC23. Wish I’d snagged more. How & when do you ADD to your WINNERS?

[@brn2863]

people who are living on debt were never middle class in the first place. just saying.

[@globalfamily8172]

I'm finding Naples prices to be around 300-400 per sf. I feel it's not a bad deal considering there is no state income tax, and the property tax is half of what it is in Jersey and CT. It's the 3% mortgage handcuff that is the problem. He's pretty lucky.

[@bro.radcliffe9453]

Pento is the king of brass tacks, junk bonds should be blowing out

[@fbazzrea]

thank you, gentlemen

[@LindaHarmel]

I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life

[@Georgina705]

Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?

[@Melbn-di6mi]

As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken

[@josehenry7205]

Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 12 grand weekly and this has improved my financial life

[@charles2395]

YES! that's exactly her name (Stacey Macken) I watched her interview on CNN News and so many people recommended her trading skills, she's an expert and I'm just starting with her....From Brisbane Australia

[@Ricgibs]

This Woman has really change the life of many people from different countries and am a testimony of her trading platform .

[@SnowAngelfish]

Pento said when interest rates are lowered bonds go up? This flies in the face of the saying "when rates are low stocks grow". Money should be flowing out of treasuries into equities if rates fall. That would cause treasuries to fall not rise. Can anyone explain?

[@fsaldan1]

I will explain. The price of a one year bond is p = 1/(1+r), where r is the one-year rate. r is in the denominator, so when it goes up p goes down. Basic arithmetic. Nothing to do with stocks. For two-year bonds use r squared instead of r. And so on.

[@markphillips2648]

You do not buy a stock for its dividend or I hope you don’t, same with long duration bonds. You buy longer duration bonds for the “Convexity”. Example; 10 year duration bond goes up 10% if rates come me down 1%, 25 year bond goes up 25% if rates come down 1%. Add to this the dividend. So Pento is dead on. Adversely if rates go up 1% your bond depreciation is 1% times the duration. Convexity concept is not easy to understand however this is my most important investment that if you don’t understand you should!!!

[@nevillegoddess]

Dude I just jumped so high at 16:20 when your voice came out of only my right earbud holy shit 😂😂😂 I thought there was a guy standing behind me

[@ronaldmiller3619]

Wash your mouth

[@pamdemic7848]

Warning, incoming truth bombs 💣

[@snowyskylar8821]

Long term subscriber

[@user-id8fx8zr1n]

My house insurance went from 1900 to 8600 in 2 years and the Australian inflation index says insurance inflation is around 12 or 15%

[@shawnkelly695]

I use to earn good money. Buy a new house and felt rich. Then a brand new car. Young and new car equals high insurance. Then financed new furniture. Ran up credit cards. Worked my ass off working non stop. By the time i hit 40 it all came crashing down. Stress caused stroke. Health failed and lost everything

[@teddy122389]

Take our money back with Valaurum.

[@shankarraghunandan9805]

You need high rates to bring down inflation smart guy

[@jivefive99]

It is possible all the businesses who lost money during Covid are collectively raising prices temporarily to cover their losses, because if they all do it at once, they can get away with it, instead of one business raising prices and being slapped down by the media. Once competitive forces come back, the "inflation" might abate.

[@brandon_youtube]

So what's the path here, continue printing money and raise borrowing till a crisis event happens? Because no central banks will allow deflation to happen, unless Powell wants to clear out all regional banks...

[@kathleenwells4495]

Thomas Paine would have had him in hand cuffs by now. Paine called this kind of money system "criminal." 1787 on the Pennsylvania legislature

[@phalkepawan9417]

I'm waiting on AMSRC23 don't like buying after it's already pumped, still buying btc

[@user-zs1fr7im6l]

35 TRILLION GOVERNMENT DEBT GOING ON 40 TRILLION BEFORE THE END OF THE YEAR ----- AND CONSUMER DEBT 18 TRILLION GOING ON 20 TRILLION BEFORE END OF YEAR --- MOST OF IT WILL NEVER BE REPAID !

[@fsaldan1]

And Pento wants deflation, which would increase the value of all that debt. Nuts!

[@sethalexander3164]

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”-Thomas Jefferson

[@stanislavdaganov574]

9:42 Buy gold.

[@clp1595]

When asked how are you positioned he totally deflected. LOL.

[@cloracle4420]

Why should the United States be in debt to a private central bank?

[@johnr8309]

How has the stock market gone down for a decade in this country???? Both the S&P 500 and Dow Jones hit record highs this year.

[@gabrielmartinez2455]

The housing market is going to drop 25% by the end of the year ~ Michael Pento 2022

[@douglasdunn6015]

Wow , the markets are only 40% overvalued , good times.

[@ArvindKumar-kt2rk]

Depends on your finances . 1000$ in Solana is 4000 AMSRC23 if it goes to 50% of ath in 2024 thats a 600% gain. If it goes equal to ath . Its a 1200% gain.

[@dwaynecarroll7985]

Pipelines, Midstream energy, shippers of clean dirty oil, coal mines. Massive increase stagflation stay frosty out there

[@coolboywizard874]

If the congress adhered to free market principles and respected the Constitution we would not be having these priblems!

[@amritnoorsingh1116]

In my opinion AMSRC23 has great Potential to Pump due to all the ai craze...

[@martinchmarak3017]

One thing I know is that Amazon's AMSRC23 will make people rich in 2025 only if we get in now .

[@mgiannuzzi]

Inheritance From the Planet Krypton Kryptheum Synthetic GOLD AI

[@djsanjay9699]

AMSRC23 is the hidden gem this bull run, thankyou for being on the ball.

[@user-re8bk8ik8s]

the AMSRC23 is the game changer

[@OmSingh-hs3rf]

AMSRC23 is going to 10x over BNB Market Cap.

[@Immigrationsituation]

Since covid every local, state and federal govt has gotten so bloated if we have deflation all their programs collapse. It will be a blood bath. Its an ok economy when you lise your job but could you imagine the news about the horrors if a govt has to cut soending and dear god position's

[@brianmurphy7372]

Its all a slow MELTDOWN!!

[@user-un4jk7bu2b]

Biggest market explosion ever is AMSRC23

[@HisanMolla]

AMSRC23 is only Few days OLD !! IMAGINE THE POTENTIAL

[@kathleenwells4495]

What do you expect from a lawyer running the national money supply? I never met a lawyer anywhere who doesn't steal, cheat, and LIE.

[@manishfardheen1743]

AMSRC23 will rule the market. An outstanding project.

[@hariharpatra9231]

You should buy ETH and AMSRC23 if you care about your future

[@mukeshmeena7214]

E-commerce tokens are booming. AMSRC23 will go 50x after the launch.

[@RoshanKumar-9604]

Somehow always these ppl do not mention actual reasons behind the scenes. The reason why we can go so big is ONLY because of AMSRC23

[@ThierryHorel]

36 trillions of debt this year .. 40 next year . Nothing will survive . And the dedollarization will get faster and stronger. The downfall is near.

[@pravinKumar-ob8gz]

200x with AMSRC23 anyway

[@wilfhigginson465]

If you take everything out of inflation data, everything is fine #softlanding #bidenomics #worldpeace 😂

[@sanjjanadevi]

AMSRC23 is the new SHIBA, 20x in the first week ??

[@user-de7ps7gd4d]

Keep up the good work, and yes, please do more deep dive into AMSRC23.

[@Sakura-pq1fr]

Nice work. I’ve been on the AMSRC23 train for a while, never sold as they are always building.

[@petergeddesrensen6567]

Middle class wiped out itself by borrowing too much

[@user-pf6tp8bn7b]

AMSRC23 is gonna go to $2 in a year..probably ahead of Ethereum in 4-5 years

[@djmurmu]

Folks, stop looking for the bottom, and just DCA AMSRC23 heavy for the next 6 months, and you will make out like a bandit when you sell in 2025

[@fsaldan1]

Pento is at the opposite end of reality. He wants deflation, the US *desperately* needs inflation. Government debt is 130% of GDP and rising rapidly. Since neither party will agree to cut expenditures and raising taxes is also impossible, the only way the US government can avoid explicit default on its debt is financial repression. Meaning lowering interest rates and letting inflation run. The expropriation of creditors and cash holders (a type of creditor). It is an illusion to think that the middle class can get a better deal. The US has run current account deficits since the early 80s. That means living above its means. Stop dreaming. Life is not a Hollywood movie. Americans have a highly inflated view of what they "deserve". The dream is over.

[@rameshgill1444]

All hail , Bidenomics .

[@saadshaikh5681]

Solana, BTC, AMSRC23 are my top 3.

[@frestonyt]

Why is AMSRC23 doing so well? That is concerning to me.

[@ShivranjanKumar-mb1hw]

10x with AMSRC23 anyway

[@devendragoswami9838]

Hopefully AMSRC23 will do good.. have a little over 55 thousad AMSRC23 coins

[@MG-ht8eu]

AMSRC23's disruptive potential is not to be underestimated. It's poised to make waves in the crypto space!

[@zilltamizan795]

I agree 100% BTC and AMSRC23

[@user-kc9wx6bo4z]

Don't think You cant fight the AMSRC23 Fomo this time

[@mukodon9620]

I've had the feeling BTC would actually recover it is just a small sidestep with these ETF hype slowing us a bit, but AMSRC23 brings us back up

[@AmitSaw-cx5ci]

if AMSRC23 can grow organically like that they will dominate that industry

[@chhotuchavada5497]

Let's keep our eyes on the AMSRC23 prize and see where this journey takes us!

[@kathleenwells4495]

This economy is not ok. Grow up!

[@dimitrivancamp1013]

I get his standpoint but I think that the system runs well the way it does. If there is a crises then we print money and yes people pay slightly more for a loaf of bread but who really cares about that..

[@honeyhew]

😆 Were you by chance born with a silver spoon in your bum? Those in the working class get crushed from printing...employers raise distributions for themselves without raising wages for the EEs (relatively speaking)...creating a massive wealth gap and inequality in purchasing power (just look at housing)..."but who really cares about that" 😉

[@toinengwyn3935]

Says the top .0001%...

[@ChristAliveForevermore]

The most short-sighted, moronic economic take in the history of America, right here, folks.

[@Arvindpadhiyar-vb1tb]

Its quite possible that AMSRC23 will hit $10. Crossing our fingers for a safe travel!

[@mayurMarathe11]

I'm trading AMSRC23 and WIF both picked up the last 24 hours.

[@user-gk4iy6eo2g]

I've had the feeling BTC would be going to 70k as well. Clearing out all my Alts going into Solana and AMSRC23 only, maybe a little WIF.

[@kamranmalik486]

AMSRC23 will change lives this year. Hold for long and let's see what happen.

[@balrajub4122]

AMSRC23 IS ahead of the game.

[@ronmckee8132]

I'm stupid (uneducated ) If ( oops ) when you wipe out the middle class ,,, what happens to GDP ?????????????? (suprise me )