On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 ...
Tag: Economics
Nigeria to Stop Cash Withdrawals From Government Accounts – Economics Bitcoin News
From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public offi...
Mexican CBDC Unlikely to Be Ready by 2024 – Economics Bitcoin News
The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxi...
Brazil’s New President Sends Stocks Tumbling. Bonds Could Be a Buy.
Investors brimmed with optimism when Luiz Inácio Lula da Silva was elected Brazil’s president on Oct. 30, returning to power after two prior terms in 2003 to 2011. It didn’t last. The iShares MSCI Bra...
Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization – Economics Bitcoin News
During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that i...
Syrian Central Bank Devalues Local Currency by Nearly 50% – Economics Bitcoin News
The Syrian central bank recently announced the nearly 50% devaluation of the Syrian pound’s exchange rate versus the greenback from 3,015 per dollar to 4,522 per dollar. The central bank also warned c...
‘Big Short’ Investor Michael Burry Warns of Another Inflation Spike — Expects US to Be ‘in Recession by Any Definition’ – Economics Bitcoin News
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says inflation has peaked in the U.S. but there will be another inflation spike. He expects the U.S. economy to be in...
IMF Warns of Tough Year Ahead for World Economy Citing Slowdown in US, EU, China – Economics Bitcoin News
The International Monetary Fund (IMF) has warned that 2023 will be a tougher year for most of the world economy because the U.S., EU, and Chinese economies are all slowing down simultaneously. “We exp...
Economist Peter Schiff Predicts Inflation ‘About to Get Much Worse’ — US Dollar Facing ‘One of Its Worst Years Ever’ – Economics Bitcoin News
Economist Peter Schiff has predicted that the U.S. dollar will have “one of its worst years ever” in 2023, warning that the inflation problem is “about to get much worse.” He also shared his predictio...
Top 3 Macroeconomic Events to Watch in 2023 Amid Volatile Market Conditions – Economics Bitcoin News
2022 was a tough year for crypto assets, and as the world welcomes 2023, the macroeconomic backdrop remains uncertain. Macroeconomic events will continue to shape the crypto economy and the economy as...
ChatGPT Likes Our Robot Story
To the Editor:I was going to write you a letter about your cover story (“Robots Are Replacing Workers Lost in the Pandemic. They’re Here to Stay.”, Dec. 23) when I thought I would just let ChatGPT wri...
Loan Data Shows Exceptional Economic Health, Though HELOCs May Be Cracking
GIBBSTOWN, NJ – JANUARY 23: A truck driven by Rob Sparks of Metropolitan Asset Recovery Solutions … [+] tows a vehicle during reposession January 23, 2003 in Gibbstown, New Jersey. Statist...
Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability – Economics Bitcoin News
Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange ma...
Is the Stock Market Open Today? Here Are the Hours for the New Year’s Weekend.
From a macro perspective, 2022 didn’t offer investors much to clink champagne glasses over. The past several months have served up inflation and layoffs—plus a recession seems to be on the horizon for...
Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency – Economics Bitcoin News
During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local curr...
Argentine Peso Breaks Historic Low Mark as Argentines Hedge Savings in Dollars – Economics Bitcoin News
The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U...
Will Federal Reserve Rate Hikes Pull Down Inflation? Probably Not, New Research Shows
US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open … [+] Market Committee meeting in Washington, DC on July 31, 2019. – The US Federal Reserve ...
Argentine Peso Plunges to a 5 Month Low Amid Legal and Political Woes – Economics Bitcoin News
The Argentine Peso has experienced a sudden fall vs the U.S. dollar, falling to a 5-month low in its blue rate, one of the many parallel exchange rates of the country. The reasons for this fall, besid...
Recent Fed Rate Hikes Might Go Down in History as Most Damaging Ever – Economics Bitcoin News
Tesla CEO and Twitter chief Elon Musk says the Federal Reserve’s recent rate hikes “might go down in history as most damaging ever.” The billionaire has urged the Fed to cut interest rates immediately...
Inflation Is Slowing Down, PCE Data, the Fed’s Preferred Measure, Shows
Inflation is slowing, but consumers aren’t spending as much as hoped this holiday season, data showed Friday. The core personal-consumption expenditures price index, or PCE deflator, was up 0.2% in No...
Cryptocurrencies Will Cause Next Financial Crisis if They’re Not Banned – Economics Bitcoin News
The governor of India’s central bank, the Reserve Bank of India (RBI), has warned that the next financial crisis will come from cryptocurrencies, like bitcoin and ether. The central bank chief added t...
Comcast Keeps Raising Prices, but Customers Have Another Choice
Comcast (CMCSA) – Get Free Report prices move in only one direction. Every year, more or less, they always go up. That’s because the cable and internet giant largely has a captive audience...
Bank of Japan’s Kuroda Shocks Markets by Raising the Benchmark Rate to 0.5% From 0.25% – Economics Bitcoin News
The Japanese yen is up 3.42% against the U.S. dollar on Tuesday as the Bank of Japan surprised the world by deciding to allow the benchmark interest rate to rise to 0.5% from 0.25%. The Japanese centr...
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings – Economics Bitcoin News
On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks...
Perhaps Milton Friedman Was Right
Notorious gangster Al Capone attempts to help unemployed men with his soup kitchen “Big Al’s Kitchen … [+] for the Needy.” The kitchen provides three meals a day consisting of ...
Markets for Critical Minerals Are Too Prone to Failure
Text size Workers inspect an open cast at Arcadia Lithium mine on January 11, 2022 in Goromonzi, Zimbabwe. Tafadzwa Ufumeli/Getty Images About the authors: Cullen Hendrix is senior fellow at the Peter...