Jan 30, 2023
Summary:
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.
Useful Links:
Financial Survival Network
Pento Portfolio Strategies