The Great Housing Bust of 2021-22 - John Rubino #5175

Published: June 8, 2021, noon

b'Home Housing bust on the way. John\\u2019s builder had an amazing story to tell. 6-12 months ago he was doing record business. Half of his customers have put their project on hold. He\\u2019s working just as hard re-pricing projects and passing on the bad news to his buyers. Housing prices have blown through the affordability level and it\\u2019s quite possibly game over. The price of materials has gone parabolic.\\xa0 Used car prices have almost doubled in the past two years. Why? Easy money! When your Lexus US Mint admits there\\u2019s a global silver shortage. How could this be? We\\u2019ll see exactly what that means. Coin dealers are charging outrageous premiums, is that a sign? Gold and silver prices should be going up.\\xa0 \\xa0 Rumor that Russia was going to announce a gold-linked ruble but the BIS talked Putin out of it. The results could be disasterous for Russia\\u2019s exports. Competitive devaluations have been the norm.\\xa0 \\xa0 Basel III is looming. Will it be watered down or postponed? When will the bullion banks die already? They\\u2019re still here today. Maybe Russia\\u2019s threat of a gold-backed ruble forced Basel III.\\xa0 \\xa0 Biden\\u2019s budget is immense $6 trillion and it\\u2019s been met with a big yawn. Governments have given up on any semblance of fiscal sanity. We\\u2019re getting closer to falling off the ultimate financial cliff.\\xa0 Digital euro taking shape https://www.ekathimerini.com/news/1162157/eu-set-to-unveil-plans-for-bloc-wide-digital-wallet-ft/\\xa0 Digital currencies will foster in total control and tracking of every transaction. Is a dictatorship being implemented.\\xa0 Peruvian Government change, socialists look poised to win. Is it just a money grab or will it change the nature of mining in the country.\\xa0 Miami Crypto Conference deja\\u2019 All Over. Cryptos are an emerging asset class. What will they turn out to be and how will they be used.\\xa0 Record Consumer Credit Overall, total consumer credit rose at a\\xa05.3% annual rate in April to a new all time high of $4.238 trillion. Don\\u2019t worry, there\\u2019s no limit to anything. Could be the blow-off stage of the biggest bubble(s) in history.'