Michael Pento Admits He Was Wrong Like Gross; Has Loads of Suggestions

By on September 6, 2011

Michael Pento - Senior Economist - Euro Pacific CapitalMichael Pento, Senior Economist, Euro Pacific Capital, had a mea culpa regarding Treasury bonds, but unlike Bill Gross, said he definitely wouldn’t buy them now. Pento considers U. S. government bonds, “the biggest bubble the planet earth has ever seen.”

Pento said you have to bullish on gold given that the Fed has guaranteed us negative real interest rates for a very long time.

Pento recommended dividend paying stocks of foreign commodity producers. BHP Billiton and Rio Tinto were names Pento said fit the bill.

Pento also considered international REITS a good place to invest along with select U. S. REITS. That is, until interest rates rise by natural market forces, which he says is inevitable.

Micheal Pento characterized Ben Bernanke as the “counterfeiter in chief” who is afraid of a 1937-style recession within a depression scenario.

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