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IPFS News Link • Economy - Economics USA

"Daddy Is Not Coming Home To Fix This" John Rubino Fears "Mad Max Scenario" Ahea

• Via Greg Hunters

Rubino starts with the economic problems and explains, "Now, inflation is starting to spread..."

"Look at lumber.  If you are trying to build a house, it's $35,000 more now than it was two years ago just because of lumber.  Iron ore, house prices, grains, food and you name it, we've got inflation going on.  At the same time, we have an apparent labor shortage.  All these companies are coming out and saying we would love to take on all the business we are being offered to us, but we don't have enough people.  Even Uber and Lyft cannot find enough drivers.  It's weird it is happening this soon, but we should not be surprised since we dumped tens of trillions of dollars into the economy over the past year.  This is what you would expect if you get the money supply going up 30% or 40%, which it did.  This is what you get.  The economy overheats.  Now, we are confronted with the nightmare scenario in a fiat currency system.  Inflation starts to pick up, which it is.  That sends interest rates higher, which is happening.  That threatens all the heavily indebted people out there because as rates go up, their costs rise.  Then they go bankrupt in increasing numbers, and the system collapses.  We are in the early stages in that kind of a process, and I don't think anybody knows what to do about it."

It seems Sam Zell knows what to do.  Who is Sam Zell?  Rubino says, "Well, Sam Zell is one of the biggest real estate investors in the world.  The guy has a history of being right at the big turning points..."