We are involved in a long term trend where people are losing confidence in government. There are many events around the world that are part of a long term trend which show the distrust of government.
In this video I discuss how the markets could be telling us that the capital flow will move from public to private. This is going to potentially help equities and hurt sovereign debt.
▶️ 3Speak
The uncertainty in the market is exactly why I believe there will be a correction. The number one thing the US stock markets hate is uncertainty.
As for the trust in the government, it's already decreasing. They spent 9 months debating after the first stimulus checks went out to pass out $600. That means you were suppose to live on $66/month in a situation where unemployment benefits had huge issues and businesses were shut down. This means a majority of the people in the affected industries were essentially not making any money and were covering the costs out of their own pockets.
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Quite right and why the world is changing rapidly. Ever Government decision is being questioned and no more so on how everything effects the economy.
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@taskmaster4450le loosing confidence in government is becoming a norm based on the wrong policies that many governments are making,for example look at the Nigerian government,they recently decided to ban crypto trading in the country,such decision has made many nigerians to get tired of the government overthere and feel tbag the government are just simply lacking ideas and are less informed about how to create a financial progress for it's citizens.......
I expect the Nigerian government to overturn its decision to ban crypto soon. When the economy is going to collapse, they will have no other choice. The Pakistani government is mining crypto now to boost the economy. There will be a problem though, as electricity is needed, something that Nigeria has to work on as far as I know.
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The Nigerian government can be really very stubborn,they have put many of it's citizens in pains and suffering for a very long time and they are not even bothered about it....
I hope with this downward trend
people don't lose their trust in crypto also
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I don't think so. Those who are watching the market and know a few things also know this is normal.
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We've not lost trust in the government as we've never trusted our government. Growing up under a communist regime, then having been forced to choose the less bad every four years is not encouraging. If the US is in this situation, imagine other countries. As you said, there are negative interest rates in Europe already, the covid lockdown caused problems added to the existing ones, loss of income from tourism, plus the political fights .... This is a mess that is not going to end well. So we have to push crypto, work hard every day.
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Sorry, out of BEER, please retry later...