The Phaserl


Worldwide Credit Bubble Bursting Now — Michael Pento

from Greg Hunter:

Analyst/money manager Michael Pento says the Fed plans on raising interest rates multiple times.

Pento explains, “The Fed isn’t going to do a one-and-done rate hike scenario like Wall Street would like you to believe. The Fed publishes . . . where they think the Fed Funds Rate . . . will be at a certain point in time. . . . At the end of next year, the median ‘dot plot’ is 1.5% on the overnight lending rate. So, the Fed is not going to raise one time and retire and go home, and that is not even the most important point. The most important point is we have reached a point where we are entering into a global recession, and this global recession is going to occur even if the Fed did not raise interest rates more than one time. It’s happening now.”

Pento, who wrote the 2013 book “The Coming Bond Market Collapse,” says almost every country in the world is in deep financial trouble and contends, “You’re seeing the bursting of this worldwide credit bubble, and the first cracks are appearing in junk debt. . .

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