That day has arrived. Now, Pento says, “This is a global depression just like we had in the 1930’s combined with a 2008 style credit crisis. That’s what it is. I was on your program about three months ago, and I predicted a global recession. That was wrong. It is a global depression.
We have learned that the S&P 500 earnings will decrease by 10% in the second quarter. We also know that GDP (Gross Domestic Product) for the second quarter is projected to decline by 35%.
We also know, according to the St. Louis Federal Reserve President James Bullard, that the unemployment rate in the United States could surge to 42%.
April is going to be a disaster. We are not in a recession, we are in a depression, and it is global in nature.” Pento thinks physical gold and silver are some of the “must have” assets. He has also recently doubled his investment in precious metals.
- Source, USA Watchdog
