Great Recession 2.0? | Michael Pento

Pento warns of a triumvirate of asset bubbles in credit, real estate, and stocks, forecasting a severe recession with 23% national home price declines.

His defensive model portfolio is heavily allocated to 70% T-bills/cash and 20% commodities, avoiding broad equity due to extreme valuations and stagflation risks.

Long-term secular headwinds including a debt-disabled economy, exhausted stimulus, and retiring baby boomers signal significantly lower real investment returns ahead.