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Today Michael Pento, of Pento Portfolio Strategies, writes
exclusively for King World News to let readers know what to expect from central
planners around the world. He also discussed the sagging global economy and
much more. Here is Pento’s piece: “The plunging ISM manufacturing data
in the U.S. forebodes a GDP growth rate of just about 1%, and crumbling global
PMI manufacturing data indicates worldwide growth retreated to just 2%. There
is a deepening recession in the EU (17) countries, while emerging market
economic growth has collapsed.”
Michael Pento
continues:
“In Brazil, for example, GDP growth fell from 7.5% in
2010 to just 2% today. It isn’t much of a surprise to learn that central banks
in China, Britain, Europe and America have indicated that more money printing is
just around the corner. But one has to wonder how effective more money printing
will be when interest rates are already at rock bottom.
A central bank’s stock and trade is to engage in a
legalized form of counterfeiting...."
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