Tuesday, August 20, 2019

‘Recession Is Near For US Economy’ Says Economist

US Federal Reserve continues to hunt the the country’s economy after its series of increased interest rates in 2018.

US Economy In Recession?

Now, Canadian economist David Rosenberg claims that US economy will be under recession this year, which jumps in to our question. Will cryptocurrencies save economy from Rosenberg’s prediction?

“The market is behaving as it did during the worst collapse for the market since 1929 and/or the worst recession since the Great Depression,” Rosenberg wrote at  Business Insider.

That’s the chilling explanation of well-known economist David Rosenberg after he made an assessment with Fed’s actions based on the past year.

Downs Of Fed Reserve

As reported, US Federal Reserve made another increased on its interest rate in December 2018. However, prior to this, the agency already raised the rates in September, on the same year.

Worse, Fed Reserve stated that there will be another series of increase interest rates down in 2019.

That sums up to Federal Reserve chairman Jerome Powell’s seventh time to increased rates under his control.

In comparison to that, was Obama’s one time of raised interest rate from its eight-year tenure.

Although Rosenberg’s prediction ability seems to be shaky due to the same prediction he did in 2017 with the US economy– which obviously did not happen. Rosenberg claimed to be accurate on his prediction, this year, which tremble investors around the world.

“We’ve got more than 80 percent chance of recession just based on the fact the Fed is tightening policy,” he said

Will Cryptos Going To Save The Day?

Whether the economist’s prediction were right this time, the fact that Fed Reserve continues to affect and plunged on its way to recession, has made an interesting idea for the industry of digital tokens.

Related Article:  Bermuda Is Set To Announce Plan To Launch Crypto Friendly Bank next Week

As reported in BTCNN, retired politician and bitcoin advocate Ron Paul, shared his claim of ending Federal Reserve and replacing it with ‘tax-free’ cryptocurrencies.

“THE FED HAS NO IDEA WHAT RATES SHOULD BE. THE FED MANIPULATES PRICES, DISTORTS THE ECONOMY, AND MAKES DECISIONS BY LOOKING AT THE ‘DATA’ OF A DISTORTED ECONOMY,” PAUL TWEETED.

That claim was supported from the same statement of Rosenberg’s prediction of US economy under recession.

“IT IS LIKELY THAT THE NEXT FED-CREATED RECESSION WILL COME SOONER RATHER THAN LATER. THIS COULD BE THE MAJOR CATASTROPHE THAT LEADS TO THE END OF FIAT CURRENCY,” HE ADDED.

The catastrophe held by US Fed Reserve proves that it can be possible for US investors and the economy to switch from banks to cryptos, once the agency ends loose.

After all, who wants a trail with shaky bumps?

 

 

 

More Articles

Russian Church Takes Advantage Of Cheap Power To Mine...

Cryptocurrencies are taking the world and not even churches are outside of this predicament. But what does a little Protestant church located in the...

India’s Central Bank Governor Resigns Post

India's Central Bank Governor has recently made a shocking announcement of his resignation in the middle of his three-year term, according to BBC News. When...

Crypto Forecast: Weiss Releases Bold Predictions for Year 2019

Weiss Crypto Ratings have published their predictions and calculated expectations in the cryptocurrency market for the year 2019, and they are bold and bullishly...

FIFA World Cup to Test Cryptocurrencies As Alternate Payment...

The FIFA soccer World Cup is one of the biggest sports events of the whole world. The last world cup, held in Brazil on 2014,...

Chinese President Regards Blockchain Tech As “Breakthrough”

Chinese president Xi Jinping has talked about blockchain today, the technology that fuels cryptocurrencies, stating that it was a part of a new generation...

PayPal CEO Declares Cryptocurrencies Are “An Experiment”

Dan Schulman, PayPal CEO has no love for cryptocurrencies as they are now. He declared that cryptocurrencies are an experiment, and it is unclear...

Kidnappers of Norwegian Billionaire’s Wife Demand Ransom in Monero

The wife of one of Norway’s richest businessman, Anne-Elisabeth Falkevik Hage, has been kidnapped and her abductors are currently demanding a sum of 9...

Vitalik Butterin Believes Ripple’s XRP Is Better Than Bitcoin...

A co-founder of Ethereum, Vitalik Butterin believes Ripple is a better crypto coin and a better store of value than Bitcoin . Vitalik made...

PayPal’s Plan Was to Develop a Decentralized Payment System...

Based on a video uploaded on Bloxlive.Tv, a streaming service on January 31, Luke Nosek, Paypal's co-founder has revealed the American company's initial plan....

MIT Developing New Cryptocurrency, Vault That Requires Less Data

A new cryptocurrency that requires 99 percent less data input by users before making a transaction in comparison to other cryptocurrencies is under development...

Bitmex Denies Ditching North American Clients Amid Regulatory Pressure

Cryptocurrency trading platform, Bitmex has denied media report circulating all over the world that the exchange was shutting down its account in the United...

Latest Articles

Why Some Financial Bubbles Are Necessary Economic Disasters

The history of the worldwide economy is punctuated by financial bubbles. They happen more often than we think.  Fortunly’s infographic below provides a comprehensive...

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...

How To Shop on Amazon with Bitcoin – Step-By-Step...

Wondered how to shop on Amazon with bitcoin? Then here's how you can purchase goods on one of the largest e-commerce websites that ships...

How To Buy Bitcoin On Coinbase – Step-By-Step Guide

Buy Bitcoin on Coinbase instantly in the U.S., UK, Canada, or anywhere you are globally. Coinbase cryptocurrency exchange has enabled its customers buy the...

Grayscale Bitcoin Trust Boosts By 300%, Affects Oil &...

The institutional investment product, Grayscale Bitcoin Trust (GBTC), experienced a growth of more than 300% due to its outstanding performance since February, Forbes reports....

How To Create A Coinbase Account – Step-By-Step Guide

Create a Coinbase account with ease. Use this illustrative guide to create a Coinbase account for buying, selling, and storing cryptocurrencies. And you know...

$9.2 Trillion Transferred Using Bitcoins In 2.5 Years

Against present belief that bitcoin is only used for speculation, James McDowall, a crypto investor and advisor shared a metric about Bitcoin that's been...

Malware Posing as Movie File Manipulates Results and Steals...

A new form of malware posing as movie file was discovered last year and was designed to steal cryptocurrency and inject manipulated results into...