Could Lockdowns SUPERCHARGE Bitcoin?
🔥 TOP Crypto TIPS In My Newsletter 👉 https://guy.coinbureau.com/signup/
🏆 My $4K Trading Comp & Deals 👉 https://guy.coinbureau.com/deals/
📲 Coin Bureau Insider Channel 👉 https://t.me/cbinsider
🐦 Follow Our Twitter 👉 https://twitter.com/coinbureau
– TIMESTAMPS –
2:17 The Economy Is Rebounding!
4:20 What Happened In The Economy?
6:48 Recent GDP Growth Is Deceptive
11:30 Future of US Economy
17:13 Safe Haven Assets
21:55 Final Thoughts
⛓️ 🔗 Useful Links 🔗 ⛓️
► US GDP data Q3 2020: https://www.bea.gov/news/2020/gross-domestic-product-third-quarter-2020-advance-estimate
► Personal income by State Q2 2020: https://www.bea.gov/news/2020/personal-income-state-2nd-quarter-2020
► Personal income data Sept 2020: https://www.bea.gov/news/2020/personal-income-and-outlays-september-2020
► Unofficial unemployment could be 25%: https://www.independent.co.uk/news/world/americas/us-unemployment-rate-jobs-recession-b1017913.html
► Reopening & closing down of States: https://www.nytimes.com/interactive/2020/us/states-reopen-map-coronavirus.html
► US net exports: https://fred.stlouisfed.org/series/NETEXP
► New massive gold deposit discovered: https://www.bloomberg.com/news/articles/2020-10-22/polyus-says-siberian-gold-deposit-holds-world-s-largest-reserves
📈 The US Economy is Rebounding? 📈
In the third quarter of 2020, the US economy has been on a tear, posting record-breaking GDP growth! Sure, earlier in the year there was a pretty dramatic fall due to the pandemic. However, what we are seeing right now is one of the greatest economic rebounds in history!
Another fact is that personal incomes by State have actually increased. So, in the midst of all this fall out from the virus, it appears that people have never been so rich!
Here’s the question, are news outlets just trying to scare us with claims of mass unemployment and COVID-driven economic armageddon?
🤔 The Economy In 2020 🤔
Think back to earlier in the year when there was all those stay at home orders. Shutting the economy down naturally led to GDP falling off a cliff. In my video, I compare that drop to 2008 and the Great depression.
📉 Why Recent GDP Growth Is Deceptive? 📉
Here’s the deal; that Q3 rebound was mainly driven by consumer spending. That’s not surprising given that the economy opened back up at this time.
Personal consumption, investment and property sales all went up. Despite all that, the economy is smaller than at the end of 2019.
Here’s the problem: States are reopening and reversing that decision due to the spread of COVID. If that continues, it’s going to be hard for consumer spending to keep on supporting that GDP growth in the fourth quarter.
Watch my video. In it, I explain why all those great looking numbers in Q3 are nothing more than a stimulus powered fugazi. The good news is that this probably all means that some people are going to come out the back of this with a stockpile of cash.
🔮 The Future of The US Economy 🔮
Many people are better off due to COVID. That’s because they still have a job, spent less on goods and services and got a stimulus cheque or two. If that’s you, then chances are you are thinking about treating yourself to a vacation or something like that when this all blows over.
The problem is that everyone else is thinking the same thing and that’s likely to result in demand-pull inflation.
Then you have the trend of companies wanting to shorten their supply chains. After all, the pandemic was pretty disruptive for that. This domestic labor is more expensive and that could lead to cost-push inflation.
So yep, I think crazy levels of inflation are in all our futures.
👑 Safe Haven Assets 👑
In my video, I take a look at inflation resistant hard assets. I put gold under the microscope and also highlight some shortcomings. I then get into Bitcoin and explain why it could be a better bet to protect your purchasing power against COVID driven inflation.
So, be sure to watch if you want to hear my reasoning on that one.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.
#crypto #bitcoin #inflation #economy #lockdown #output