Greg Hunter – Money manager Michael Pento says the next crash will be one for the record books. Pento contends, “If you look at any of the economic data coming out, it screams recession. It will be one of the worst recessions since 2008 and 1929—combined.” This is a description of a global depression. Pento contends, “Unfortunately, I think that’s exactly where we are headed. It’s not my opinion. It’s not a Cassandra. It’s not my view. It’s the entire view of all global markets. China is 45% down. There’s a bear market in Europe. There’s a bear market in Japan. There is a bear market in most of the United States.”
https://youtu.be/6-67ifpdMps
Why is it going to be so historically bad this time around? Pento says, “In prior recessions, the Federal Reserve was allowed to lower the borrowing costs significantly and dramatically.