Notes From Michael Pento

Summary:

  • “The U.S. budget deficit…will be at least $4 trillion in total, which is $2.6 trillion more than the peak suffered under the Great Recession.”
  • 32 million people collecting unemployment insurance as of June 27th”
  • “Of course, our central bank has destroyed capitalism by ensuring the businesses that still make typewriters and white-out can continue to borrow money. This means a tidal wave of bankruptcies has been put temporarily on ice, but the size of the insolvency storm is rapidly intensifying. Indeed, 1 out of every 5 U.S. companies are now considered Zombies. Meaning, they don’t make enough profits to cover the interest expense on existing debt.
  • Q2 earnings season has kicked off this week, and S&P profits are expected to plunge by 44%.
  • AAPL, AMZN, and MSFT have a market cap that is equal to nearly 25% of the entire GDP of the United States
  • 32% of U.S. Households did not make a full mortgage payment in July, according to a survey done by Apartment List.

Author: Robert Slye

Robert Slye is the editor and publisher of ManAndWar.com. Contact him at rs@manandwar.com

Leave a Reply

Your email address will not be published.