Economic Thoughts From John Rubino and Lynette Zang 6-30-2023
Painful Market Crash on the Horizon with John Rubino
WTFinance: 6-30-2023
On this episode of the WTFinance podcast I have the pleasure of speaking with John Rubino - Founder of dollarcollapse.com, author/co-author of 5 books and a great Substack.
During our conversation we spoke about the bearish pain to come, why we will see further bank failures, could central banks bail out governments, whether this would lead to a Bretton Woods 3.0 and how to protect wealth during this period.
I hope you enjoy!
0:00 - Introduction
0:53 - Key events that John is currently watching?
4:10 - Surprised how well the economy has held up?
5:20 - How will John know bearish catalyst
8:35- Why would central banks not bail out government?
13:10 - Do central bankers have any tools left to save the current system?
16:30 - Bretton Woods 3.0 or BRICS currency to emerge?
22:00 - What is happen with the Euro?
29:10 - Potential for a hot or cold war between diverging regions?
35:20 - How to protect wealth?
37:20 - Is land really a store of wealth when governments can tax?
40:55 - Key message to take away from our conversation?
IMF Report: Unmasking the Global Zombie Corporation Epidemic
Lynette Zang: 6-29-2023
We've talked a lot over the years about zombie companies, those companies that have not been able to make any principal payments, let alone all of their interest payments for at least three years.
But the banks and other lenders don't want that to show up on their books. So they loan them the money so that they can at least make most of their interest payment. And then any excess goes on.
And so what they're really growing is more and more and more debt. Well, the IMF just came out with a report on it. And I think you really need to know about it.
CHAPTERS:
0:00 Zombie Companies
1:28 IMF - Rise of the Walking Dead
3:32 We See Patterns
6:20 Average Share of Zombie Corporations
8:54 Mean Duration
11:39 Markets Saying to Fed
13:42 Profits Look Shaky
16:43 Junk Loans Defaults Surge
20:09 Powell Wake Up Call!
22:22 Long Term Benefits of Owning Gold