This Is The Terrifying Future That We All Face
KingWorldNews.com
Oct. 11, 2015
With continued volatility in global markets, today one of the top economists in the world sent King World News an incredibly powerful piece about the terrifying future that we all face. Below is the fantastic piece from Michael Pento.
By Michael Pento of Pento Portfolio Strategies
October 11 – (King World News) – One Step Back From the Ledge
I started Pento Portfolio Strategies three years ago with the knowledge that the unprecedented level of fiat credit creation had rendered the globe debt disabled and would result in mass global sovereign default. As a consequence, there would be wild swings between inflation and deflation dependent upon the government provisions of fiscal stimulus, Quantitative Easing and Zero Interest Rate Policies…
For much of the third quarter the US Federal Reserve has avowed to raise rates. This in turn caused a sharp stock market correction on a worldwide basis. The flattening of the Treasury yield curve and the strengthening of the US dollar were the primary culprits. But then the September Non-Farm Payroll Report came in with a net increase of just 142k jobs, which was well below Wall Street’s expectation. The unemployment rate held steady at 5.1% but the labor force participation rate dropped to the October 1977 low of 62.4%. Average hourly earnings fell 0.04% and the workweek slipped to 34.5 hours. There were also significant downward revisions of 22k and 37k jobs for the July and August reports respectively.
The Rest…HERE
