There has been a great deal of hype in the mainstream media stating the US economy is recovering. Pento, who founded Pento Portfolio Strategies, told King World News the truth is the US economy is not recovering and global readers should expect a surge in inflation. This is what Pento had to say: “Since the US economy is so intertwined with the global economy, I decided to look at claims by the mainstream media that the US economy is strengthening. The conclusion, please don’t believe the hype that the American economy is healing. While it is true that some data is showing improvement, the true fundamentals of the economy continue to erode.”
Michael Pento continues:
“America’s trade deficit hit $52.6 billion in January. That’s the highest level since October of 2008 and is clear evidence that we have fully reverted back to our under production, under saving and overconsumption habits with alacrity.
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