Thoughtful Money with Adam Taggart · Tuesday, August 4, 2026
Michael Pento, founder and CEO of Pinto Portfolio Strategies, predicts that the current period of reflation and disinflation will eventually lead to a deflationary depression, not just a recession. He notes that market cycles have become extremely compressed, making it difficult for investors to navigate.
“I think it ends in disinflation, then deflation and depression, and I said D and I meant it. It's depression, not recession.”
“And I, and I think I can prove that in this interview.”
“So the cycles have been very compressed. So anyone trying to follow that is just been, you know, tripping over themselves.”