Trouble in Turkey

Turkey is feeling the pinch of inflation, with the lira losing almost 50% of its value last year. President Erdogan tinkered with things and it helped briefly, but prices are rising. A government move to make bread more affordable has backfired, and a state-run energy agency has raised its prices by 125% according to Daily Wire. After cracking down on cryptocurrency, President Erdogan’s… Read More Trouble in Turkey

In God we trust

Twitter founder, Jack Dorsey has tweeted out a rosy prediction that “hyperinflation” is coming. ZeroHedge seems to agree, noting jitters in money markets. They report that the Reserve Bank of Australia shocked traders after refusing to buy a two-year bond. US Treasury Secretary Janet Yellen conceded that inflation will continue for a while, but should level out around the middle of… Read More In God we trust

Payin’ the bills

The value of Bitcoin surged after rumors circulated that Amazon was considering accepting purchases in the cryptocurrency. After Amazon said they weren’t planning such a change in the near future, Bitcoin dropped, but is expected to recover soon. A crypto expert has tweeted that the infrastructure bill being considered by Congress could “sink the American crypto industry.” It could… Read More Payin’ the bills

A week on Wall Street is a very long time

Adam Ford has a helpful 12-minute video summary of what went down with GameStop (GME) and the financial markets last week. Although a lot of the carnage inflicted on huge hedge funds was at the [diamond] hand of “retail” investors (mostly everyday people), the battle began quietly a few weeks prior.  The Reddit user known as DFV felt GameStop was undervalued and deliberately… Read More A week on Wall Street is a very long time