Michael Pento: Central Bankruptcy – Why QE3 is Inevitable

Markets were closed, time to catch up on the news.

Bernanke is bluffing. Can't fight inflation because selling securities will collapse the market. Statistics are bad even before QE2 ends. Diminishing returns because of rising inflation, monetizing debt can only go so far. If true to word, will have a deflationary depression. If play politics, will have inflationary depression. What has changed since this has started? Nothing has changed from the central cause- which is debt. Debts still have to be paid. Will be like UK, austerity. The dollar will continue to erode and destroy the middle class, he says.