The bursting of the Chinese real estate and stock market bubble can have a real impact on the Hudson Valley.

Financial expert Jordan Goodman joined News 12's Lisa Salvadorini in the studio and says the deflationary impact of the Chinese economy is putting downward pressure on commodity prices such as oil, coal, gold, etc. Goodman says this means that Hudson Valley drivers will enjoy cheaper gas in coming months.

Goodman says China's economy is also putting downward pressure on some U.S. stocks since companies doing business in China are going to have disappointing sales and profits.

The author of "Master Your Debt" also discusses the impact on U.S. interest rates and how it may prevent the Federal Reserve from raising rates in September.