Multi-Bubble Popping Economy with John Rubino #5650
Maturing debt in a higher interest rate environment is spiking everyone's debt-carrying cost. US now spends more on interest than defense. Meta is firing thousands of employees this week. Lots of other tech companies doing the same on a smaller...
November 8, 202234m 19s
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Show Notes
Maturing debt in a higher interest rate environment is spiking everyone's debt-carrying cost. US now spends more on interest than defense. Meta is firing thousands of employees this week. Lots of other tech companies doing the same on a smaller scale. Mortgage rates at 7.5%, mortgage demand plunging. The housing bubble has definitely burst. Huge shift in stock market leadership from tech to energy. Twitter take over by Musk and the fallout. Gold and silver had a massive up day on Friday. Meanwhile, central banks are buying gold at a record pace, some of them in secret. Can we talk about the Atlantic "covid amnesty" article and the response to it? Is a Red Wave coming on Tuesday?