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My media's telling me that US recession fears are affecting US stocks. And when US stocks are affected, the effect on cryptocurrencies is generally magnified si
by BLKNSLVR 2y ago
My media's telling me that US recession fears are affecting US stocks. And when US stocks are affected, the effect on cryptocurrencies is generally magnified since cryptocurrency is viewed as a risk asset, so one of the first to be sold off in a panic.
- Aardwolf 2y agoDo you have a view on which president candidate is causing the biggest recession fears, if any?
- BLKNSLVR 2y agoI think it's just the numbers causing the fear. I actually haven't thought about it in terms of presidential candidate selection. But to engage in conjecture, I'd very uncontroversially say that it's precisely split down party lines - if you're going to vote Democrat then you're going to thing the Republicans are more likely to make recession worse, and vice versa. Personally, I think parties and politicians are somewhat leaves on the stream of momentum and world events. They may have some control of variations in speed and direction, but nowhere near what they're blamed / given credit for. This recession is a predictable outcome of the global shake up caused by COVID, and particularly the money printing / incentive cheques, which was a political decision. But not doing it could have had a worse result, who knows? Japan's situation, Ukraine, and now Israel and Iran, those destabilising forces are going to do more to world economics than any individual politician or country (although the US's influence is outsized).