Michael Pento: Great Recession Headed for Greater Depression, Stock Market Will Fall at Least 50%

Money Manager Michael Pento predicted the bond market would ultimately collapse in his 2013 book titled “The Coming Bond Market Collapse.” He says the collapse has started and will get worse quickly. Pento is watching Europe and says, “When the European Central Bank (ECB) announces they are going to take the $60 billion a month of easing and take it to zero, you are going to see a bond market revolt. The free market, whatever is left of it, is going to aggressively start shorting bonds. You will see yields spike in Europe, which is going to drag up bond yields across the globe. That’s when this thing will all unravel and unravel very, very quickly.”
In closing, Pento predicts, “The stock market is a bubble. It’s going to fall at least 50% for starters and before Janet Yellen gets to helicopter money. You better be ready.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with money manager Michael Pento of Pento Portfolio Strategies.
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