Michael Pento warns the collapse has started and will get worse quickly.
“When the European Central Bank (ECB) announces they are going to take the $60 billion a month of easing and take it to zero, you are going to see a bond market revolt. The free market, whatever is left of it, is going to aggressively start shorting bonds. You will see yields spike in Europe, which is going to drag up bond yields across the globe. That’s when this thing will all unravel and unravel very, very quickly.”  
“The stock market is a bubble. It’s going to fall at least 50% for starters and before Janet Yellen gets to helicopter money. You better be ready.

Economist Michael Pento says forget the “Fiscal Cliff” you have been told about. Pento charges, “The real ‘Fiscal Cliff’ is the coming currency and bond market collapse.”

Pento says if we stay on our current path, “We are in for an interest rate shock that will make the Great Depression look like the days of wine and roses.” The open-ended Fed money printing is creating “. . . a fictitious world of artificially low interest rates,” according to Pento. He says, “We need to move quickly towards a balanced budget . . . yes, it will be painful for a lot of people.” If we don’t change course, Pento says, “A financial collapse is inevitable . . . the free market will force this Fiscal Cliff upon us. There is no way around it.” If you ever wanted to hear Mr. Pento uninterrupted and unfiltered by mainstream financial media, here’s your chance. Join Greg Hunter as he goes One-on-One with Michael Pento.