10/16/2021 - Intel Drop Update #7 (Global Economic Crisis)

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Economic Perfect Storm: Food Price Inflation Could Hit Double Digits (Report) Britain’s biggest chicken producer said that the country’s 20-year cheap food binge is ending, and food price inflation could hit double digits. Shortages of warehouse workers, truckers and butchers as well as COVID and Brexit, exacerbating strains in the UK. “Food is too cheap,” Ranjit Boparan, who is known as the “Chicken King” and owns the 2 Sisters Group, was quoted as saying by The Times newspaper. With central bankers on high alert and inflation in Spain, Ireland and Sweden hitting 13-year highs, European Central Bank President Christine Lagarde repeated that the upswing in Europe is seen as temporary and said there were no signs of it becoming embedded in wages.

Evergrande’s $1.7 billion Hong Kong headquarters sale flops as buyer withdraws: https://www.reuters.com/world/china/exc ... 2021-1015/

China Real Estate Falls, We All Fall: The situation in China is much worse than originally thought. When the largest real estate market in the world collapses, it will affect the whole world. Firstly, the Chinese real estate market is the largest market in the world, its value is 62 trillion US dollars, according to a recent report by Goldman Sachs. Secondly, the real estate market in China accounts for almost 30% of the country’s GDP compared to 6% in the United States. Finally, China’s real estate market is heavily overloaded. This is similar to the 2008 housing crisis in the United States. The excess of property in China is so large that 15 large properties were recently demolished because they remained unfinished for 7 years. Real estate was the only way to accumulate wealth in China because the stock market was new and not trusted. Therefore, as people invested money, real estate was built, but then the builders began to use the deposits for other purposes. This has become a Ponzi scheme – according to some sources, the largest in the world (however, the unsecured obligations of the US social security system are estimated at 96 trillion dollars). Goldman Sachs has estimates of the impact of China’s real estate market on GDP, and in the worst-case scenario, China’s GDP will decrease significantly. However, sales and commissioning of new facilities are currently declining significantly more than experts predicted. https://youtu.be/Om6b0_ffyFQ https://youtu.be/6nC0f1185WI