DEFAULT IS INEVITABLE | Michael Pento

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“Debt levels have reached a point where they have to be defaulted upon,” Michael Pento of Pento Portfolio Strategies tells Silver Doctors.

Michael Pento of Pento Portfolio Strategies interviewed by Silver Doctors

The rate of the 10-year Treasury is at a four year high nearing three percent. Pento forecasts it will rise to four percent, which will be a “floor rather than a ceiling.If the rate rises to four percent, people will have lost about 25 percent from a “risk free” asset since July 2016.

The top is in for the stock market, Pento says. As rates continue to rise, look out for a bankruptcies, layoffs, and a stock crash.