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Entries by Michael Pento from 06/2012

A QE III Game of Chicken

| Posted 06.07.2012 | Business

Most investors continue to misdiagnose the reason behind the worldwide economic malaise. The underlying problem isn't "uncertainty." The real reason why global markets are melting down is because the recession in the Eurozone is quickly turning into a deflationary depression.

Spain's Bank Bailout Can't Save Europe

| Posted 06.14.2012 | Business

After the euphoria from the Spanish bailout ends, look for sovereign bond yields to once again rise, along with credit default swaps on that debt, and for global markets to continue lower. There is simply no magic bullet or elixir that can save Europe from a tremendous amount of pain.

Europe's Solution Isn't More Inflation

| Posted 06.21.2012 | Business

The only real solution for insolvent Europe is to explicitly default on the debt to a level that brings PIIGS countries to a debt to GDP ratio below 60 percent.