This week, business leaders of Europe's non-ferrous metals industry (i.e. - aluminum, zinc, copper, nickel, etc.) wrote a letter to the leadership of the European Commission and the European Parliament pleading for intervention to prevent permanent deindustrialization, citing unprecedented energy costs as an existential threat to the survival of the industry.

Meanwhile, China's economy has slowed significantly, which is presenting massive challenges to its banking and financial sectors as over-leveraged real estate developers start to default on their debt obligations.

How will the economy of the United States perform as other major economies teeter on the edge? How will these events impact poorer countries? Are we looking at a new round of debt crises on the horizon? Matt and Saki discuss on this week's episode.

REFERENCED ON THIS EPISODE:

https://eurometaux.eu/media/qnhn5k30/non-ferrous-metals-ceo-letter-on-energy-crisis-06-09-2022.pdf

https://www.reuters.com/markets/europe/euro-zone-inflation-hits-yet-another-record-high-august-2022-08-31/

https://www.bloomberg.com/news/articles/2022-08-29/china-s-bad-debt-managers-see-profits-tank-on-property-losses?leadSource=uverify%20wall

https://asia.nikkei.com/Opinion/China-s-debt-bomb-looks-ready-to-explode

http://fingfx.thomsonreuters.com/gfx/rngs/CHINA-DEBT-GRAPHIC/0100315H2LG/

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With the war in Ukraine, severe drought, and ongoing supply shortages, the environment in Europe is set for difficulties unseen in several generations. How will Western economies be impacted in the short and medium terms? What can you do to prepare? Matt and Saki discuss these topics on this week's episode.

RELATED ARTICLES:

https://www.msn.com/en-us/news/world/european-power-prices-shatter-records-as-energy-crisis-intensifies/ar-AA11eM9u

https://www.devex.com/news/devex-newswire-why-fertilizer-is-a-mucky-problem-for-the-food-crisis-103856

https://www.yahoo.com/news/europes-energy-crisis-going-worse-090058572.html

https://markets.businessinsider.com/news/commodities/europe-energy-crisis-russia-natural-gas-perfect-storm-bofa-electricity-2022-8

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On this episode, Matt and Saki give an in-depth review of President Biden's student loan proposals.

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