Michael Pento

Articles by Michael Pento

Governor Alejandro García Padilla of Puerto Rico said this week he does not think the Commonwealth will be able to pay back the $73 billion in debt owed to bondholders. I find this rare bit of honesty totally refreshing. For the past three...
Wall Street carnival barkers are relishing in the fantasy that the economy has finally achieved escape velocity. Therefore, they accept with alacrity that this is the primary reason why interest rates have started to rise. However, the...
Even though the major stock market averages are flat for the first six months of the year, by nearly every measure the stock market is still extremely overvalued. This point is not lost on Ms. Yellen and company, as the Fed Chair herself...
For the first time in its country’s history, Portugal sold 6 month T-bills at a negative yield. The 300 million euros ($333 million) worth of bills due in November 2015 sold at an average yield of minus 0.002%. A negative yield means...
At the beginning of every quarter Wall Street places its overly optimistic GDP forecasts on parade. And by the end of the quarter, those same carnival barkers line up a myriad of excuses as to why the numbers fell short. Port strikes, a...
Central banks are incapable of saving economies or creating growth. The only thing a central bank can do is create inflation. These market manipulators set forth on a journey seven years ago to save the world by engaging in massive...
Wall Street analysts unanimously cheered last fall when the price of oil fell from nearly $100 a barrel in June of 2014, to almost $45 a barrel by the end of January 2015. The theory was that the average American family, paying less at the...
Despite all of the central bank manipulations over the past seven years, it is finally becoming clear economies will not be able to achieve escape velocity. The U.S. central bank has the longest track record of treading down the path of...
Just like in the world of fashion, economic terminologies come in and out of vogue. One such economic term trending recently is Secular Stagnation.   First proposed by Keynesian economist Alvin Hansen back in the 1930s, Secular...
On a fundamental basis stock prices are reflective of both economic and earnings growth.  When growth is strong, stock prices should increase in value. And when economic activity decelerates or turns negative, stock prices should go...

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During 1500s the Spaniards had taken 16,000,000 kilograms of silver from Peru.