As the US Congress is nearing an offer on a $900 billion stimulus costs, the S&P and the Nasdaq are heading to tape-record highs in spite of growing claims of joblessness. DHT’s Boom Bust checks out if the offer might be done in time.
“Yes, naturally an offer will get done. Is there anyone in DC that actually appreciates financial obligation any longer?” states Michael Pento, CEO of Pento Portfolio Strategies.About the stock market’s existing assessment, he states: “This is the most overvalued market we have ever had in the history of our stock market… We are headed to more debt and more debt monetization, unfortunately.”Pento includes: “When you think about all the debt that we have, you know, 128 percent of GDP, of course it has to be monetized. Otherwise, reality will reveal that this market is completely untenable at these prices and the debt is untenable at these levels. That’s the truth.”For more stories on economy & & financing check out DHT’s business area