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Corporate Socialism to Dying for the Dow: 7 Themes That Defined the Week
As another unprecedented week winds down, @NLW breaks down unlimited QE, digital dollars, the last break of institutional trust and more.
Updated Sep 14, 2021, 8:23 a.m. Published Mar 27, 2020, 7:00 p.m.
As another unprecedented week winds down, @NLW breaks down unlimited QE, digital dollars, the last break of institutional trust and more.
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In this episode of The Breakdown, @NLW reflects on the themes that defined an absolutely wild week in global markets and society.
Those themes include:
- Unlimited QE - broad new powers (corporate bond buying anyone?) and an unlimited checkbook for the Fed
- Digital Dollars - a surprise inclusion of a digital dollar in an early stimulus draft shifts the "Overton window"
- Narrative Shift to “Grandma Dies for the Dow” - narrative analysis that suggests the “just the flu” of two weeks has become “business closures will kill more than COVID”
- Stimulus as Corporate Socialism - a huge bailout for businesses explained away by something that Taleb says is decidedly NOT a Black Swan
- The Last Break of Institutional Trust - jobless claims were four times higher than the previous record on the same day the stock market went bull again - trust in leadership is dead
- Surveillance - a growing concern with surveillance - such as the new CDC program earmarked in the stimulus package
- Bitcoin difficulty adjustment - as Preston Pysh put it, “this thing is so resilient it’s almost laughable”
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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