Michael Pento Warns Global Markets Set To Collapse

Saturday, September 27, 2014
By Paul Martin

September 27, 2014

On the heels of another wild week of trading in global markets, today Michael Pento warned that global markets are now set for total collapse. Pento takes KWN readers around the world on a trip down the rabbit hole which takes a sobering look at what is really taking place in the United States.

By Michael Pento of Pento Portfolio Strategies

September 27 (King World News) – Global Markets Set To Collapse

Wall Street came to a halt recently as Chinese e-commerce giant Alibaba made its initial public offering. The media became myopically focused over this so-called “historic event” and by its celebrity founder, Jack Ma. By the time the closing bell had rung, the hype and fanfare propelled Alibaba up 36 percent on its first day of trading and caused the world’s largest IPO to display a market cap worth $231 billion. The investing public seems to have forgotten the dangers associated with disregarding valuation metrics — Alibaba is trading at a price-to-book value ratio north of 27!….

The Rest…HERE

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