by Kerry Lutz, Financial Survival Network:
In a talk between Kerry Lutz and Gerald Celente, the impact of the COVID-19 pandemic on the real estate and banking industries was discussed. With remote work becoming more prevalent, people are leaving cities, leading to a decrease in occupancy rates and an increase in vacant buildings. This will result in owners of these buildings defaulting on their mortgages, leading to a banking crisis. The pandemic has also led to the decline of cultural centers and trade centers in cities, with businesses that depend on commuters going out of business. The rise of crime and homelessness in cities is also contributing to people leaving. The conversation highlights the interconnectedness of the global economy and the consequences of political decisions on economic growth. TRUTH LIVES on at https://sgtreport.tv/
The discussion also touched on the decline in manufacturing numbers and how it will lead to a decrease in consumer buying. They also talked about the unsustainability of the current population growth and how it will affect the economy. The conversation then shifted to the potential risks to Bitcoin, including government intervention, and recommended investing in real estate as a long-term play. Finally, they predicted that holiday sales will be weak and that the markets will go down after the new year, and urged investors to be cautious in their financial decisions. The negative impact of urbanization on cities globally was also discussed, with a focus on the United States. They suggested that de-urbanization may be a positive outcome of current events.
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