Sold Out

From the forecaster who anticipated the most severe economic crisis in US history comes Jim Rickards' next forewarning: the downfall of the global economy. We are on the brink of a supply chain meltdown. Currently, the absence of familiar products on store shelves is a result of disruptions in the supply chain, with goods adrift in the Pacific Ocean. But how will these disturbances manifest in half a year, or even after three years? Even though many are optimistic about a recovery post-pandemic, digital currencies, meme stocks, and social media cannot address the fundamental challenges of manufacturing and transporting physical goods globally. As Jim Rickards suggests, consumer dissatisfaction is merely a minor visible part of a much larger and intimidating threat that endangers the global economic system. In "Sold Out," Rickards presents his foresight for the post-pandemic era and explains strategies for consumers and entrepreneurs to navigate the approaching crisis. This book reveals how China's energy deficits, exacerbated by its trade tensions with Australia, are affecting the steel industry and leading to factory shutdowns. Additionally, it discusses how escalating inflation could soon give way to deflation, as increased taxes, swelling debt, and job losses reduce consumer spending, creating economic scenarios reminiscent of the 1930s. Rickards also delves into the future of currency, potentially casting doubt on the continued dominance of the American dollar itself. With our global economy facing unprecedented hurdles in the imminent months, our collective fate hinges on preparedness and proactive measures to avert the looming economic downturn.