This Is When All Hell Is Going To Break Loose In Major Markets
June 14, 2014
With a non-stop flow of propaganda from Western mainstream media outlets, today Michael Pento sent King World News a fantastic piece which lays out the roadmap for when all hell is going to break loose in major markets. Pento also warns that governments are going to look for more ways to confiscate investor wealth.
By Michael Pento of Pento Portfolio Strategies
June 14 (King World News) – This Is When All Hell Is Going To Break Loose In Major Markets
Governments are not engaged in a systemic conspiracy to alter economic data after it has been collected. To get a multitude of individuals agreeing on how to fudge information would be far too difficult to control. Instead, it is much easier for a small group of government officials to simply change the formula for calculating the data points that they desire to manipulate to make the information seem more palatable.
For example, since the world completely abandoned the gold standard back in 1971, governments have repeatedly tinkered with the CPI formula in order to convince the public that prices are vastly more stable than they really are. And now, since the developed world is suffering from anemic growth rates due to a massive debt overhang, governments have turned their attention to changing the way GDP is calculated.
Starting this year, the government of Italy will add the mafia’s “contribution” of goods and services to its GDP…