Month: February 2018

Money manager Michael Pento predicts, “For the first time in 40 years, you are going to have bond prices and equity prices in free-fall. That happened in the 1970’s, but it’s going to be worse because in the 1970’s, you didn’t have an insolvency concern. . . The chaos coming to markets is here. It’s not going away, and it’s not going to be brushed under the rug. It’s not going to stay on the sidelines for another few years. The years from 2007 to 2017 were the years central banks were buying everything. There was no volatility, and stocks just went up. Those days have ended, and the volatility is only going to become much more profound.”

Join Greg Hunter as he goes One-on-One with financial expert Michael Pento, founder of Pento Portfolio Strategies.

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Financial writer Charles Hugh Smith sees one very big problem coming at us, and that is a dramatic loss in buying power of the U.S. dollar, but it’s not just the dollar. According to Smith, “All these currencies, there is nothing backing the currencies except the government’s force. That’s the yen, the euro, the dollar and the Chinese yuan. They are all going to have a catastrophic drop against real assets because they are all based on too much leverage, too much debt, too much money being pumped into the financial system that ends up in unproductive speculation. You can’t grow your debt at six times the rate of your economy. In other words, if you are creating $6, $8 or $10 of debt to eke out $1 of low productivity growth, you are dooming your currency, and all currencies are doing the same thing. All the currencies are going to take a big drop at some point . . . relative to real stuff. Real stuff is commodities we need: water, grains, food, oil, natural gas and, of course, precious metals. Everybody knows they have been money for 5,000 years, and I personally feel there is a role for crypto currencies.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Charles Hugh Smith, author of the new book “Money and Work Unchained” and the founder of the popular site OfTwoMinds.com.

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Greg Hunter of USAWatchdog.com looks at the week’s top stories in the Weekly News Wrap-Up.

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Are the Trump tax cuts going to help the economy or hurt it? The answer is both. Economist John Williams explains, “The tax cuts are generally positive. Anytime you cut taxes that is generally a plus for the economy. The problem is the average guy is still not making ends meet. Anything that increases disposable income is a plus. This does not necessarily go to the guys at the lower end of the income scale, but generally there should be a little economic pick up here from it. The problem is what happens to the budget deficit. We just went through the government shutdown and a package that lays things out for the next two years, but it widens the deficit. The deficit is beyond control. We have $100 trillion in unfunded liabilities. That means you need $100 trillion in hand right now to cover the federal obligations going forward. . . . Printing money to meet obligations is what happened in the Weimar Republic in Germany. This happened in Zimbabwe. This kind of thing eventually gives you a hyperinflation. . . . Ongoing budget deficit and debasing of the dollar will give you global selling pressures in the currency markets. . . . We haven’t seen much selling in the dollar, but that is going to change. You are going to see flight from the dollar and flight from the markets as well.”

Join Greg Hunter as he goes One-on-One with economist John Williams, founder of ShadowStats.com.

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