Thoughtful Money with Adam Taggart
Michael Pento: Recession Soon, Then Rampant Stagflation
Apr 25, 2024
Money manager Michael Pento predicts a recession in 2024 followed by severe stagflation, expressing concern for the middle class. Delving into the impact of interest rates on the economy, Pento critiques the Federal Reserve's money printing practices leading to debt and asset bubbles. The discussion explores strategies for navigating the economic landscape amidst stagflation predictions and emphasizes the importance of leadership accountability and investing in people.
01:11:30
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Quick takeaways
- Stagflation is expected due to deliberate inflation and a looming recession in the summer, impacting purchasing power and economic confidence.
- Concerns arise from various economic indicators pointing towards a recession, including high bankruptcies and inverted yield curves, prompting fears of economic instability.
Deep dives
Prediction of Stagflation and Recession Timing
Stagflation is anticipated due to deliberate inflation resulting from the central bank monetizing government debt. The recession is predicted to occur in the summer, lasting approximately six to nine months, with a focus on the erosion of confidence in the fiat currency's purchasing power.
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