Jan 30, 2023
The markets are on a bounce, and yet, layoffs are more plentiful than ever. This is not the beginning of a bull market or an upward shift in economic growth; rather, inflation is disguising the inevitable recession ahead. Here to dispel the confusion and discuss what’s truly happening is Michael Pento, President and Founder of Pinto Portfolio Strategies. Michael emphasizes that real economic growth is shrinking while GDP is going up. While the Bureau of Labor Statistics came out with a better-than-expected number of unemployed individuals, this provides little hope amidst the large-scale layoffs at big corporations. Moreover, the death of inflation has been grossly exaggerated, with the monetization of debt being the root cause of our inflationary circumstance. We still have a long way to go before the Fed pivots, and it’s essential to be on the right side of the cycle for what’s to come. Tune in for more insight.