Lebanon is facing an unprecedented economic crisis and the local currency has already lost about 60% of its value. The central bank’s policies have come under fire while citizens are protesting how the government handles the economic meltdown which led to people’s living situation deteriorating “terrifyingly.” Lebanon’s Currency Crisis Protests erupted in Lebanon on Friday […]
The post Lebanese Currency Collapse: Failed Policies Led to Economic Meltdown appeared first on Bitcoin News.
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Several economists have predicted where the U.S. economy is heading. One said it would take a miracle to keep the recession from turning into another Great Depression. Some believe that a fast or V-shaped recovery is unlikely. Meanwhile, Apple CEO Tim Cook reportedly told President Trump the opposite, predicting that the U.S. economy will have […]
The International Monetary Fund (IMF) said the world’s current economic crisis is the worst downturn since the Great Depression, and no country is spared. The IMF estimates that the cumulative loss to global GDP from the pandemic could be around 9 trillion dollars. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of […]
Announcing an open-ended QE program Monday for unprecedented asset purchasing, the U.S. Federal Reserve has pledged to purchase assets “in the amounts needed,” signaling the beginning of a virtually unlimited easing effort which will include moving into corporate bonds for the first time.
While its well-known that the revised Schedule 1 form for U.S. taxpayers now contains a question about cryptocurrencies, what is lesser discussed are the legal ramifications this may have for filers who answer incorrectly. The vague nature of the yes or no inquiry has one tax expert doubting the constitutionality of the question, urging all […]
The 2020 U.S. Presidential candidate Michael Bloomberg addressed the subject of cryptocurrencies and initial coin offerings (ICO) in his recently published Financial Reform Policy. Bloomberg wants more “regulatory oversight” when it comes to this promising technology, claiming he sees “plenty of hype, fraud and criminal activity.” Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett […]
The latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not be sufficient to avoid the next meltdown. Also read: […]
All eyes are on the German economy which was once perceived as stable and strong. However, the financial state of affairs has been tumultuous and Berlin’s state cabinet recently agreed to a five-year rent freeze to help curb the rising housing costs in the country. Moreover, Bundesbank just published a monthly report that explains how […]
Bitcoin scores high in terms of ‘moneyness’ compared to other forms of money as it has some technical advantages and social inertia. In an interview with Bitcoin.com’s Humans of Bitcoin podcast, brilliant contrarian thinker Sean Walsh shared his opinion about cryptocurrencies and their place within the global financial system. The crypto investor believes decentralized digital […]
Banking giants are in trouble and it’s starting to show. Key players in the industry have already announced massive job cuts and executives with hefty salaries have been dismissed. HSBC, the largest bank in Europe, has revealed it plans to lay off over 4,000 employees and Citigroup is preparing to shrink its trading staff slashing […]