Michael Pento interview
Michael gives a very good interview here IMO, he explains the macro picture quite well. Well worth the time to listen even if you disagree with what he is seeing…
https://www.youtube.com/watch?v=-anej-9heSI
Michael gives a very good interview here IMO, he explains the macro picture quite well. Well worth the time to listen even if you disagree with what he is seeing…
https://www.youtube.com/watch?v=-anej-9heSI
Excellent.
Like me, Michael Pento has been saying the same thing for a long time. That doesn’t make him wrong, or does it?
I’d note that in Dec. 2007 when gold was about $800/oz, the Fed’s balance sheet was just under $1 Trillion. Today, with the balance sheet up 400% to around $4.3 trillion, gold is up 50%. Pento says the Fed can’t print again in the face of the next recession because we’re only 250 basis points away from zero instead of 550, but imo gold is saying the opposite. I don’t like it and I don’t get it but it appears to be so.
Same story appearing in today’s ZH:
https://www.zerohedge.com/news/2018-07-05/one-more-hike-inversion-treasury-curve-plunges-flattest-july-2007
I suppose it would be too much to ask of the Fed to do nothing if the curve inverts and the market plunges.
Thanks:).