Sean Foo and Michael Pento Economic Thoughts September 08, 2023

China’s Xi Ditches G20 Meeting – U.S. Freaks Out & Issues Scolding

Sean Foo:  9-8-2023

China’s Xi is not attending the G20 summit, sparking deep disappointment from President Biden.

After all the US-China tensions and economic conflicts, Xi’s absence could mark the declining importance of the G20 as a group to push out global change.

Here’s what you must know and why China can’t be bothered to attend.

Timestamps & Chapters:

 0:00 Xi Abandons G20 Summit

1:49 China Has Given Up

 4:33 America’s Agenda

7:07 The U.S. Moves To Counter China

9:53 The Big Meeting To Watch

The Fed Prevented (Or Postponed?) Bank Failures | MICHAEL PENTO

Liberty and Finance:  9-8-2023

The recession has been postponed, not avoided, says portfolio manager Michael Pento. He discusses the current concerns he has for the US economy and banking system.

The balance sheets of banks remains a huge issue, he explains and notes their assets are largely down or at major risk of value decline. If the Fed hadn’t stepped in, there would have been a “chain reaction of bank defaults.”


0:00 Intro

3:48 Bank Term Funding Program

 6:49 Value of bank’s assets

9:23 Real estate market

17:00 Bank accounts

 25:10 Pento Portfolio Strategies

25:53 Mainstream media