Mickeal is an honoured man who is really concerned for middle and lower class in spite of his own benefits of having this crazy bubble. Thank you so much to both of you!
So I’m 60 and remember my grandpa complaining about about bread going up when I was young. If we had inflation then I expect very bad inflation with these deficits, war spending, social programs, government size.
Rate cuts were also to a collapsing job market. We are going into deflation. Inflation is coming down, it does not happen in a week. Wexate doing into a massive recession, so you do buy bomds. I have never seen such an acceleration of job layoffs, especially in the tech sector.
The problem with deflation, for the gummit ie, they have to repay the debt with dollars that are worth more than the dollars they borrowed. With inflation, the dollars repaid are worth less than the dollars borrowed. THIS is why the gummit hates deflation. They cannot inflate away the debt.
Surely using interest rates isn't the only way to control inflation, if you cut government spending right back and stopped deficit spending that would also lower inflation as there is less money being thrown around for pork barrel spending?
I heard an interesting observation on another show re: the difference in inflation outlooks. Those who have money don’t like inflation in food, gasoline, insurance. But love Inflation in Assets - houses, art, baseball cards, and yes Gold. The poor have neither of these kind of “assets” so only see lower living standards. The Asset Class does better under the “right kind” of inflation and grumbles with the poor about the “wrong kind” of inflation. IF you really want lower Inflation across the whole spectrum- will you be happy if your stocks, your house, your art (Collectibles) and your gold and BitCoin don’t go up? Only the poor would benefit- the Richer would not benefit in Assets. We all love to buy low - sell high. But under a no inflation scenario- there’s not a lot of Profit! Hmmm......
This, of course, will result in their value tanking by half or more. The pension funds and insurance companies that hold these instruments will be gutted. The USA is about to hit the wall of interest. All d I scretionary Federal spending will go toward interest. This will require conjuring money out of thin air. Welcome to life in Argentina. We will even have a majority Hispanic population to go with it in about 10 years. @naturalresourcestocks
In the future you will be reading about the generation that didn’t have children because they could barely afford to feed and house themselves and the impact this will have on the country.
Wow. What part of the country do you live? I am in Atlanta and the housing market is certainly slower. A friend of mines house has been on the market for three months with no offers yet (and it’s in a nice area).
Reserve currencies that are backed by nothing are the same as any other currency. They all get debased by politicians. I doubt USD will die as there is nothing to replace it. History will continue and it just will not buy what it previously did. Soon everyone will be a millionaire
A recession and deflation are good for the middle class. What nonsense. Clearly not if you have debt , a mortgage or lose your job . Really an idiotic take
How is that nonsense? In deflation, if you have a mortgage, your interest rate will come down. If you have debt, your interest rates will come down and you can refinance your debt. If you lose your job, deflation makes everything more affordable. Not sure what you are talking about.
So are diamonds, so is Uranium, and to a similar extent so is Oil. Warren Buffet doesn’t like gold because there is no dividend and doesn’t have the potential of growth as does a business. I get that - it’s a fair point. But it does have Value. Even poop under a certain circumstance has Value. It’s curious that every time you a picture of BitCoin- you see a gold colored coin. Why is that? It’s not a coin, nor gold colored. It does have a Value attached to it. But it is extremely volatile. Can you count on within a certain limit - for 1 month to pay your employees or suppliers? Would you? I wouldn’t take that risk with Gold. But BitCoin? Seriously? That’s why the world trades in Dollars (and other currencies to a lesser or greater extent based upon their circumstances) OK?
Delusion is rampant in most all current thought process, relationships of all kinds, business decisions, ‘education systems’, financial understanding, and how we are paid for our labor and production. Most people have no idea the level of lies and misrepresentations exist to which they are exposed. That’s why sometimes peoples decisions confound and make no logical sense.
DEFLATION MICHAEL IS YOUR WISH!! Deflation means a much lower level of economic activity, a collapse in consumer spending and massive increases in unemployment !! That was the case during the Great Depression - A stable Deflationary environment that led to the terrible suffering of the American people for years and years!! 😮
Pain yes. But pain will happen no matter how you cut it . It also a reset in economic activity. Bad companies will go away. At our current pace, we have inflation, where we can’t afford anything.
![[UNCUT] The Loyal Pin ปิ่นภักดิ์ EP.15 (1/4)](http://i.ytimg.com/vi/TLBjiHvkKtE/mqdefault.jpg)
Mickeal is an honoured man who is really concerned for middle and lower class in spite of his own benefits of having this crazy bubble. Thank you so much to both of you!
I totally agree! And you are very welcome.
Andy When Mike Pento is talking; I am listening. Thanks for a terrific interview!
Glad you enjoyed it!
Always like listening to Michael. He's made some good calls that affected my own portfolio positively.
Thanks for the feedback and I too am a big fan of his.
'and both those things stnk!" love mr pento!
Haha so true
So I’m 60 and remember my grandpa complaining about about bread going up when I was young. If we had inflation then I expect very bad inflation with these deficits, war spending, social programs, government size.
Yup^
Mark Zandi has been playing that role … talking up this broken economy … since Greenspan in the 90s
I went to a major fair in New England the other day, and 4 pieces of fudge was $52, with cash payment. Wowza
Hahaha. It’s gotten so bad I don’t know to laugh or cry
Really enjoyed this interview…👍…🇦🇺🦘
Thanks for the feedback!
Pento is sharp and knows what's going on. Has anyone here placed any money with him for management?
Yup
@@lorrainee4841 How long have you been working with him?
I look for bargains -- low prices, the most I can get for my money: I avoid high prices and ripoffs.
Thanks for the feedback
The good news is that soon everyone will be a millionaire. Just like Italians or Turks who collect Lira.
Haha
Rate cuts were also to a collapsing job market. We are going into deflation. Inflation is coming down, it does not happen in a week. Wexate doing into a massive recession, so you do buy bomds. I have never seen such an acceleration of job layoffs, especially in the tech sector.
Thanks for the feedback
The problem with deflation, for the gummit ie, they have to repay the debt with dollars that are worth more than the dollars they borrowed. With inflation, the dollars repaid are worth less than the dollars borrowed. THIS is why the gummit hates deflation. They cannot inflate away the debt.
Yup
Great video; what are your personal views on silver?
Very bullish. I like the upsizmore than gold
@@naturalresourcestocks same; let's see how unfolds and timeframe of moves
@@naturalresourcestocks thanks; I like also; let's see how unfolds and the timeframe. Hopefully not too long to wait.
Surely using interest rates isn't the only way to control inflation, if you cut government spending right back and stopped deficit spending that would also lower inflation as there is less money being thrown around for pork barrel spending?
Yep. But will that ever happen?
GREAT INTERVIEW INFLATION IS RUNAWAY IN NEW YORK GRILLED CHESSE WITH A SMALL COFFEE IS ONLY 8.50 HELP
Thanks for the feedback. Yes! Inflation is out of control. And this all sits at the feet’s of the FED and government spending
I heard an interesting observation on another show re: the difference in inflation outlooks.
Those who have money don’t like inflation in food, gasoline, insurance. But love Inflation in Assets - houses, art, baseball cards, and yes Gold.
The poor have neither of these kind of “assets” so only see lower living standards. The Asset Class does better under the “right kind” of inflation and grumbles with the poor about the “wrong kind” of inflation.
IF you really want lower Inflation across the whole spectrum- will you be happy if your stocks, your house, your art (Collectibles) and your gold and BitCoin don’t go up?
Only the poor would benefit- the Richer would not benefit in Assets.
We all love to buy low - sell high. But under a no inflation scenario- there’s not a lot of Profit!
Hmmm......
Thanks for the thoughts
Treasures won't default. They'll be restructured to a rate the interest on the Federal debt can be repaid.
Yup
This, of course, will result in their value tanking by half or more. The pension funds and insurance companies that hold these instruments will be gutted. The USA is about to hit the wall of interest. All d I scretionary Federal spending will go toward interest. This will require conjuring money out of thin air. Welcome to life in Argentina. We will even have a majority Hispanic population to go with it in about 10 years. @naturalresourcestocks
In the future you will be reading about the generation that didn’t have children because they could barely afford to feed and house themselves and the impact this will have on the country.
Very true
Why is this broadcast slightly speeded up? Was this some upload problem? It’s a bit disturbing to watch.
No inflation here. Home just closed in my neighborhood for $180,000 over ask price
Wow. What part of the country do you live? I am in Atlanta and the housing market is certainly slower. A friend of mines house has been on the market for three months with no offers yet (and it’s in a nice area).
@@naturalresourcestocks suburbs of the NYC
@@naturalresourcestocks The market is still insane here. Crazy asking prices. Almost if it's the last piece of property on earth.
When in history has a reserve currency hyperinflated?
Uhhhhhhh. 400 AD.
The allowance my wife uses of my reserve currency is hyperinflating
Reserve currencies that are backed by nothing are the same as any other currency. They all get debased by politicians. I doubt USD will die as there is nothing to replace it.
History will continue and it just will not buy what it previously did. Soon everyone will be a millionaire
Haha
Haha
Take some advice
Next time you buy a burger, go to McDonald's
Hahahaha
I think im turning Japanese I think im turning Japanese I really think so...
Hahaha
A recession and deflation are good for the middle class. What nonsense.
Clearly not if you have debt , a mortgage or lose your job .
Really an idiotic take
How is that nonsense? In deflation, if you have a mortgage, your interest rate will come down. If you have debt, your interest rates will come down and you can refinance your debt. If you lose your job, deflation makes everything more affordable. Not sure what you are talking about.
Gold is a dead rock
A Dead rock doubled my investment in physical and 3x my investment in equities.
Keep buying your crypto my friend haha....lets see what happens when CBDC roles out haha
Gold being a metal which is rare, is neither dead nor alive. It's currency that's dying all around the world.
So are diamonds, so is Uranium, and to a similar extent so is Oil.
Warren Buffet doesn’t like gold because there is no dividend and doesn’t have the potential of growth as does a business.
I get that - it’s a fair point.
But it does have Value. Even poop under a certain circumstance has Value.
It’s curious that every time you a picture of BitCoin- you see a gold colored coin. Why is that? It’s not a coin, nor gold colored.
It does have a Value attached to it. But it is extremely volatile. Can you count on within a certain limit - for 1 month to pay your employees or suppliers? Would you? I wouldn’t take that risk with Gold. But BitCoin? Seriously?
That’s why the world trades in Dollars (and other currencies to a lesser or greater extent based upon their circumstances)
OK?
Delusion is rampant in most all current thought process, relationships of all kinds, business decisions,
‘education systems’, financial understanding, and how we are paid for our labor and production. Most people have no idea the level of lies and misrepresentations exist to which they are exposed. That’s why sometimes peoples decisions confound and make no logical sense.
DEFLATION MICHAEL IS YOUR WISH!! Deflation means a much lower level of economic activity, a collapse in consumer spending and massive increases in unemployment !! That was the case during the Great Depression - A stable Deflationary environment that led to the terrible suffering of the American people for years and years!! 😮
Pain yes. But pain will happen no matter how you cut it . It also a reset in economic activity. Bad companies will go away. At our current pace, we have inflation, where we can’t afford anything.