The show leads with a critique of Biden’s town hall meeting last night on CNN and concludes with a discussion of what’s happening in China with its property markets bubble and coming defaults. The Biden town hall reveals the failing strategy of the Biden administration with regard to passing much needed fiscal social programs, climate change investments, jobs, and now accelerating inflation. Biden reveals what’s really behind the negotiations with Manchin and Sinema. Dr. Rasmus next discusses the causes behind the current supply driven inflation and predicts prices will continue rising well into 2022. And the US economy will continue slowing in the closing months of 2021. Stagflation (both inflation and weak jobs recovery) is the condition of the moment. Dr. Rasmus warns events in China’s property markets, with defaults at Evergrande and other developers, now inevitable, bear close watch. Is what’s happening in China housing the beginning of the next ‘subprime mortgage’-like global financial crisis?