Multi-Bubble Popping Economy with John Rubino #5650
Maturing debt in a higher interest rate environment is spiking everyone's\xa0debt-carrying cost. US now spends more on interest than defense.\xa0 Meta is firing thousands of employees this week. Lots of other tech companies doing the same on a smaller scale.\xa0 Mortgage rates at 7.5%, mortgage demand plunging. The housing bubble has definitely burst.\xa0 Huge shift in stock market leadership from tech to energy. Twitter take over by Musk and the fallout.\xa0 Gold and silver\xa0had a massive up day on Friday.\xa0 Meanwhile, central banks are buying gold at a record pace, some of them in secret.\xa0 Can we talk about the Atlantic "covid amnesty" article and the response to it? Is a Red Wave coming on Tuesday?