Agorism
11-03-2011, 09:31 AM
Yahoo Finance: Why The U.S. Is Set to Join The Zombie Club of Nations: Pento
Yahoo Finance Video (finance.yahoo.com/blogs/daily-ticker/why-u-set-join-zombie-club-nations-pento-131916534.html;_ylt=AnbGAaEmtGltRoLp0.MHIGEp2YdG;_ ylu=X3oDMTE1NzRyZGk3BG1pdANEVCBJbmRleARwb3MDMQRzZW MDTWVkaWFCbG9nSW5kZXg-;_ylg=X3oDMTFpMm9iMzh1BGludGwDdXMEbGFuZwNlbi11cwRw c3RhaWQDBHBzdGNhdANibG9nBHB0A3NlY3Rpb25z;_ylv=3)
The zombie apocalypse is coming.
That's according to Michael Pento, President of Pento Portfolio Strategies. But he's not talking about people or banks turning to lifeless monsters. He's talking about sovereign nations having the life sucked out of them.
Why? "Because they are saddled with so much debt," he tells the Daily Ticker's Aaron Task in the accompanying clip. "They are sucking the life blood of capitalism out of their economies and pouring them into the servicing of government debt; you cannot grow and therefore, you are a zombie nation."
The U.S. is currently vying for a spot within what he calls "the zombie club of nations" with a national debt nearing $15 trillion. But most notably these days, Pento is referring to Greece, which currently has a deadly debt-to-GDP ratio of 170% and is teetering on the brink of default.
What about the Greek bailout?
It doesn't matter, says Pento. Even if Greece decides to stay in the EU and take the
Yahoo Finance Video (finance.yahoo.com/blogs/daily-ticker/why-u-set-join-zombie-club-nations-pento-131916534.html;_ylt=AnbGAaEmtGltRoLp0.MHIGEp2YdG;_ ylu=X3oDMTE1NzRyZGk3BG1pdANEVCBJbmRleARwb3MDMQRzZW MDTWVkaWFCbG9nSW5kZXg-;_ylg=X3oDMTFpMm9iMzh1BGludGwDdXMEbGFuZwNlbi11cwRw c3RhaWQDBHBzdGNhdANibG9nBHB0A3NlY3Rpb25z;_ylv=3)
The zombie apocalypse is coming.
That's according to Michael Pento, President of Pento Portfolio Strategies. But he's not talking about people or banks turning to lifeless monsters. He's talking about sovereign nations having the life sucked out of them.
Why? "Because they are saddled with so much debt," he tells the Daily Ticker's Aaron Task in the accompanying clip. "They are sucking the life blood of capitalism out of their economies and pouring them into the servicing of government debt; you cannot grow and therefore, you are a zombie nation."
The U.S. is currently vying for a spot within what he calls "the zombie club of nations" with a national debt nearing $15 trillion. But most notably these days, Pento is referring to Greece, which currently has a deadly debt-to-GDP ratio of 170% and is teetering on the brink of default.
What about the Greek bailout?
It doesn't matter, says Pento. Even if Greece decides to stay in the EU and take the