A ‘Worldwide Depression Is Coming, Central Banks ALWAYS Cause Depressions’

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Michael Pento, a money manager and economist says it is no longer a matter of IF our economy tanks, but WHEN.  And he says this time, we’ll be flung into a worldwide depression handed to us by the “hubris” of the central bankers.

In an interview with USA Watchdog‘s Greg Hunter, Pento says the next economic downturn will be the “worst ever.”  Pento explains, “The mainstream financial media and most of Wall Street . . . will say that the increase of interest rates, the great deleveraging process has been consummated, and central banks can raise interest rates and then call it a “beautiful deleveraging,” a beautiful process.  That is a lie. . . . There is $240 trillion of global debt.  The bond bubble is bursting. . . . Why are emerging markets crumbling now?  It’s because the bond bubble is in the process of bursting.  As that bubble bursts, look for this chaos to metastasize across the globe.”

“It’s no longer predictive work. It’s happening,”…

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A ‘Worldwide Depression Is Coming, Central Banks ALWAYS Cause Depressions’