Today one of the top economists in the world warned King World News that we are going to see an increase in government theft of its citizens assets. Michael Pento, who heads Pento Portfolio Strategies, also made some incredibly bold predictions about what is coming in the bond, gold, silver, and mining shares markets. Below is what Pento had to say in this powerful interview.
Pento: “We had the Non-Farm Payroll Report released yesterday which disappointed Wall Street. There were also some revisions in the back months that took the numbers down quite significantly.
The most important point I took away from the employment situation in the United States is that people continue to drop out of the labor force, which tells me quite clearly that the number of people working in the United States that are able to support the people who are dependent on the government continues to drop.
This is also putting more and more pressure on the long-term fiscal condition of the US....