China Melts Down and So Does Wall Street, Buy New Appliances Now! with John Rubino

Summary:
Today, I have John Rubino on the podcast to update us on all things economy: from real estate to the supply chain, we are seeing a lot of shifts and instabilities that have incurred over time. Evergrande seems to be bleeding over into the rest of China’s immense real estate sector—tampering with the industry as a whole. We also probe into the buying and selling of crypto, and determine that people are less optimistic about it which means we will most likely see an increased interest in gold.

Highlights:
-Evergrande is a large Chinese real estate developer. It has been borrowing large amounts of money for the last decade, and it has taken up large amounts of leverage
-Even higher prices, however, are not saving them—they’re giving cheap real estate to their creditors
-This is bleeding over into the rest of China’s immense real estate sector
-The fed is making noises about tapering—we start to see taper tantrums in this circumstance
-Gold is holding its own—it’s actually up a bit
-The supply chain is still in shambles
-We live beyond our means
-Cryptos are getting whacked—they are treated like tech stocks and are risk-on assets that you buy when you’re feeling optimistic
-Bitcoin is being sold off
-This is when gold takes off; the fed starts talking about tapering, which means that easy money will come to an end
-Lumber and iron ore have tanked lately, which means that the picture is getting mixed
-The global economy is slowing down

Useful Links:
https://www.financialsurvivalnetwork.com
https://www.dollarcollapse.com/