Mirage Recovery: What ‘Record’ GDP Growth Tells Us About the Economy
The Department of Commerce’s new report shows 33.1% annualized GDP growth in Q3, but does this really tell us much about the state of the economy?
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The hype in the Western media about Kenya being a pioneering laboratory for bitcoin is largely a mirage, according to a Motherboard reporter who recently visited the country in hopes of documenting bitcoin’s success there. Accompanying the reporter was Kenyan writer Daniel Nairo, who offered his insights on bitcoin’s hype versus its reality in his country. Upon visiting Bejo’s Bar and Grill in Nairobi, which payment processor Bitsoko has featured on its website, the reporter found no one using bitcoin. Allen Juma, who founded Bitsoko with his brother Gibson, said they tried to partner with....
Renowned investor and Berkshire Hathaway CEO Warren Buffett spoke out about bitcoin for the second time in as many weeks, calling the digital currency "a mirage" in an interview with CNBC on 14th March. The comments follow Buffett's first statements on bitcoin on the network on 3rd March, when he suggested that bitcoin was not a currency, writing it off as a passing fad. Buffett was similarly dismissive of bitcoin again in his latest interview, at least as an investment opportunity, advising investors to "stay away from it". He added: "It's a mirage basically." Buffett did however allude....
The slowdown in the global economy has resulted in many governments imposing protectionist measures in their countries. Could this pose a threat to Bitcoin? Slowdown in World Trade Growth. Globalization and the corresponding increase in world trade has driven global GDP growth for the last couple of decades. Countries have found their niche areas in the global economy and have flourished – China in manufacturing, India in software, Philippines in Business Process Outsourcing, etc. However, the rapid growth in global trade seems to be plateauing. According to a recent World Trade....
U.S. Senator Cory Booker sees cryptocurrency as “an exciting innovation with the potential to bring growth to the American economy if properly nurtured and regulated.” The senator from New Jersey is encouraged by President Joe Biden’s executive order on crypto regulation.
US Senator Sees Crypto Benefiting American Economy
U.S. Senator Cory Booker talked about the potential benefits of cryptocurrency to the American economy Thursday. His comments followed President Joe Biden’s executive order on crypto regulation.
Booker became the....
In an interview on CNBC's popular morning program 'Squawk Box', Legg Mason's Bill Miller dismissed Warren Buffett's statements on bitcoin as flawed. The former Legg Mason CFA, chairman and CIO, and current portfolio manager for the Legg Mason Capital Management Trust reiterated his support for bitcoin, directly addressing the legendary investor's opinions on the subject in the process. Buffett has been outspoken in his views about bitcoin as an investment, calling its value a 'mirage' and urging investors to 'stay away' from the digital currency, though his statements have suggested he....