Make Kitco Your Homepage
Michael Pento

Michael Pento

Follow Author:

Michael Pento is the President and Founder of Pento Portfolio Strategies, produces the weekly podcast called, “The Mid-week Reality Check”, is Host of The Pentonomics Program and Author of the book “The Coming Bond Market Collapse.”

read full bio ▼

Labor market starting to crack

(Kitco commentary) - So far this year, companies have planned 604,514 job cuts, a 198% increase from the 209,495 cuts announced through September 2022. It is the highest January-September total since 2020 when 2,082,262 cuts were recorded. Apart from that COVID year it is the highest January to September total since 2009.

What is next for treasury yields

(Kitco commentary) - The Fed's minutes for their latest meeting held in July showed the committee's interest in raising interest rates further due to upside risks to inflation that is already well above their target level.

Bond market's mirror image

(Kitco commentary) - According to the Congressional Budget Office, the U.S. government posted a $225 billion budget deficit for June, up 156% from a year earlier.

QE-light forestalls crisis...for now

(Kitco commentary) - First Quarter GDP increased at only a 1.1% seasonally adjusted annual rate. That was down from 2.6% in Q4 of last year, which was down from 3.2% during Q3.

Destabilizing debt ensures the crisis has just begun

(Kitco commentary) - The debt-disabled U.S. economy cannot withstand the surge in borrowing costs, and the reduction in money supply growth necessary to combat the record-high inflation suffered over the past few years.

Four reasons why the january rally will falter

(Kitco commentary) - Inflation is supposedly on its way to falling gently back to 2% like a fluffy snowflake while the US economy roars ahead. Or at least that is what the deep state of Wall Street needs you to think.

Powell's Put: out of money and time

(Kitco commentary) - Despite all the fanfare and cheerleading you hear in the MSFM, the recent bounce in equity prices has just been a rather pedestrian bear market rally.

Recession Question Answered

(Kitco commentary) - President Joe Biden, Treasury Secretary Janet Yellen, the entirety of the money printers who inhabit the Federal Reserve and virtually all of the deep state of Wall Street are still busy trying to convince you that a recession is unlikely.

Powell's crash landing

(Kitco commentary) - Wall Street, we have a margin problem. Shares of Target (TGT) fell by 25% on Wednesday the 18th as their margins shrank by the same amount. TGT margins collapsed due to higher input costs, overstocking and overstaffing.

Fade the post rate hike rally

(Kitco commentary) - The recent stock market rally is a trap. This is because Wall Street is vastly underestimating how hawkish the Federal Reserve will have to get in order to fight inflation. And how much weaker earnings and GDP growth will become as a result.