Central Banks To Launch Unprecedented & Coordinated Action
August 14, 2012
Today Michael Pento told King World News central banks across the globe are about to unleash “unprecedented” and “coordinated” actions. Pento also cautioned investors it would be wise “to prepare accordingly.” Today Michael Pento writes exclusively for King World News to put KWN readers ahead of the curve of these enormous and extraordinary central bank actions.
Here is Pento’s piece: “There is just far too much attention being paid to the so called Fiscal Cliff occurring at the end of this year. The expiration of the Bush Era tax cuts and forced spending reductions taking place because of the sequestration, really doesn’t amount to much more than a fiscal speed bump.”
Michael Pento continues:
“In fact, less government spending is one of the pathways to prosperity; rather than becoming some make-believe economic catastrophe. And although raising tax rates isn’t an optimal solution, there could still be a small benefit if there was a resulting increase in revenue, which then served to reduce annual deficits and began to address our long-term fiscal imbalances.
However, there is indeed a real fiscal cliff that the United States is racing towards. It’s the very same cliff that Europe has already driven over….