Money manager Michael Pento returns to our program with a big warning — the prediction he made last year is coming true:
He forecasted that, beginning in Q2 2022, we will start hurdling towards a recession as well as one heck of a bear market correction.
And he believes that script is now set to play out before our eyes.
He foresees a progression from today’s stagflation to disinflation and then to outright deflation over the coming year.
The fast-rising cost of capital will pinch corporate and household incomes, spending will drop, financial & real estate prices will fall (some precipitously), and debt defaults will cascade through the system.
In short: it’s going to get ugly.
To hear one of the best summations yet of the “parade of horribles” we now face in the macro environment, as well as what their repercussions will be, watch this new excellent interview with Michael Pento.