Friday, March 5, 2021
Home Uncategorized US economic rebound using 'helicopter money' not viable, strategist tells Boom Bust

US economic rebound using ‘helicopter money’ not viable, strategist tells Boom Bust

The US saw the strongest quarterly growth between July and September, when the economy grew at an annualized rate of over 33 percent. It comes after the Covid-19 outbreak caused a record drop in the previous quarter.

RT’s Boom Bust is joined by Michael Pento, the founder and president of Pento Portfolio Strategies, to discuss what is behind those numbers.

“We’re still down 2.9 in GDP [gross domestic product] year-over-year and that is despite the Fed printing over three trillion dollars through helicopter money and handing it out to people,” the analyst said. He added that while Wall Street is now “begging” for more cash, the US simply cannot print enough money to destroy the virus.

“It’s not really a viable rebound cause it’s predicated on helicopter money,” Pento said. “There are 22 million people still collecting unemployment benefits in this country – that number was 1.4 million people a year ago.” 

The “economy is not sustainable unless you continue this farce of massive deficit spending, all that monetized by the Fed,” Pento continued, adding, “And in my opinion, where I come from, it’s not a viable recovery.” 

For more stories on economy & finance visit RT’s business section

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Onyinye Ayozie – Living Sacrifice

  Onyinye Ayozie - Living Sacrifice MP3 DOWNLOAD Onyinye Ayozie - Living Sacrifice: Onyinye Ayozie drop a brand new hit single titled Living Sacrifice Download Below https://cldup.com/cnkTc_gXBW.mp3 DOWNLOAD MP3: Onyinye...

Loveth Okpaga – Oluebube Gi

Fast-rising gospel music artist and songwriter, Loveth Okpaga releases new single titled “Oluebube Gi“. This song expresses the glorious works of God towards mankind, how unexplainable His...

Phreddy – HOLYGORISE

  PHREDDY ON HOLYGORISE MAKE SOME NOISE!!! It’s a Holy Ghost Party as Phreddy comes through with a banging new track setting the pace for a...

The birth of Unicoin ( UCN ) A cryptocurrency created with Africa and the whole world in mind.

  The birth of Unicoin ( UCN ) A New cryptocurrency created with Africa and the whole world in mind. Warning: This is unlike any other...

Recent Comments