China’s Evergrande & Inflation Continues… Michael Douville
1 Chronicles 12:32a And of the sons of Issachar, having understanding of the times, to know what Israel should do.
Proverbs 1:5 A wise man will hear, and will increase learning; and a man of understanding shall attain unto wise counsels…
China has 65 million vacant housing units. Will this affect us? How will this affect the global economy?
Check out Michael’s comments on the situation in China and their faltering real estate company, Evergrande. They have missed debt payments for two weeks now. China state backed firms are being asked to buy Evergrande assets. This company is five times the size of Lehman Brothers. Remember 2008???
China is also having significant issues with their power grid. Coal is in short supply. Factories are shutting down across the country.
Inflation is driving the price of housing higher. The Phoenix housing market is up 33% in the last year alone. Prices around the United States are increasing as well. Michael says prices will go higher. How high will prices go?
The government continues to pump more money into the market. The government promises to pump even more money in the market! Commodity prices continue to go up. The end result is more inflation and prices go higher across the board.
Have a plan! Talk to your financial adviser!
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