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“# Crypto poses no big risk to economy so far, Bank of Canada official says ” Cryptocurrencies like Bitcoin (BTC) do not pose any significant risk to the financial system at their current level of adoption, according to Bank of Canada’s Deputy Governor Paul Beaudry. Beaudry spoke about the risks to the stability of the…
“#Consumer spending surges in October amid rampant inflation” US consumer spending increased more than expected in October as households bought motor vehicles and a range of other goods, showing no signs yet of holding back because of high inflation, and boosting the economic outlook early in the fourth quarter. The Commerce Department said on Wednesday that consumer spending, which accounts…
“#Inflation is about to get way worse in 2022—and nearly everyone in Canada will feel the pinch” (Illustration by Klawe Rzeczy) To follow Blake Doyle’s life and work in Charlottetown is to take a madcap tour of inflationary Canada. In this regard, he’s like everyone on Prince Edward Island, where Statistics Canada shows the cost…
“# Australian Senator says DeFi is ‘not going away any time soon’ ” Senator Jane Hume has stated that decentralized finance (DeFi) “presents huge opportunities” for Australia to cement its place as a “front-runner for innovation and economic progress.” Senator Hume spoke at the Australian Financial Review Super & Wealth Summit in Sydney on Monday,…
“#New poll shows Americans’ displeasure with how Biden’s running the country” A new survey released Sunday reflects Americans’ deep discontent with how President Biden is running the country — as only a paltry 4 percent believe things in America are going “very well.” While the CBS News/YouGov poll pegs Biden’s job approval rating at 44…
“#The Fed’s left-face decision on Jerome Powell reign” As this column goes to press, the Wall Street C-suite class is giving Jerome Powell slight odds to be reappointed as Federal Reserve chairman. Yes, he is disliked by progressives such as Elizabeth Warren; they have a big say in just about anything the Biden administration does…
“#Who is the real inventor of Bitcoin?” Depending on who you believe, computer scientist Craig Wright is either the mysterious Bitcoin creator Satoshi Nakamoto — one of the most influential men of the modern age and the 15th wealthiest person in the world — or a crafty Aussie who is trying to trick the world and…
“#New jobless claims march lower toward pre-pandemic level” The number of Americans newly seeking jobless benefits dropped again last week, inching closer to pre-pandemic levels amid the historically tight labor market, the feds said Thursday. As of last week, initial filings for unemployment benefits, seen as a proxy for layoffs, fell to 268,000, down 1,000 from the prior week’s…
“#Facts Trump Dems’ claims on Donald’s economy” When President Donald Trump took office in 2017, economists around the world had accepted the fact that the US economy had entered the “new normal” where economic growth would be low, and wage growth nonexistent. Trump’s team argued that deregulation, trade policy and tax cuts could bring us…
“# Bitcoin price dips under $60K as Dollar Strength Index reaches 16-month highs ” Bitcoin (BTC) logged its worst daily performance since September as BTC price slid by 10% to under $59,000 on Nov. 16. On the other hand, the United States dollar jumped to its best level in sixteen months after spending across the…