US facing credit market CATASTROPHE even worse than in 2008, strategist tells RT’s Keiser Report
The hosts of Keiser Report, Max and Stacy, talk to Michael Pento of Pento Portfolio Strategies about inflation, asking him whether all of the price signals are broken.
“We are in an inflationary spike,” Pento says, adding: “What I see coming forward, especially into 2022, is the end of fiscal and monetary support.”
According to him, “a massive and unprecedented asset bubble” is forming in the stock market, while “the center of all bubbles is the bond bubble.”
“I would say we have one of the worst credit market catastrophes that we’ve had, including the great financial crisis of 2008,” Pento says. “I think we are going to have a credit crisis like we have never seen before, even worse than in 2008 … Watch to see what happens when the Fed tries to end QE and normalize interest rates. Watch what happens with the REPO market and the credit market.”
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