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Welcome back to the breakdown.

It is Thursday, April 2nd, and today we are going to try to do something where we start

with the bad and lead into the better, if not good.

So today I want to talk about jobless claims because that is the important news vis-a-vis

understanding the impact economically speaking of the coronavirus crisis in America.

And then I want to segue though into something that is more homegrown crypto related.

So I want to look at five positive indicators for crypto going forward that look at the last few weeks and look at what

might happen over the next quarter and try to have a slightly more buoyant picture. Now, I don't want

to be, as I've said, a number of times on this podcast, Pollyannish about just how serious everything

is, which is why I want to start with these jobless claims. But I do think that in all the gloom and misery, there are some interesting indicators in the crypto industry specifically

that should give us some cause for optimism. So let's talk about jobless claims first, and then let's

get into those five positive indicators for the crypto industry. All right, so first jobless

claims. Last week on Thursday, we got the report that in the previous

week, 3.3 million people had filed jobless claims, which was a 4x increase over the previous

high, which was from 1982. Now, this was devastating enough, and as we went into this week's report,

there were a number of different estimates going around. Wall Street, journal surveyed economists, and they we went into this week's report, there were a number of different estimates

going around. Wall Street, journal surveyed economists, and they came back with another 3.1 million.

Morgan Stanley was betting on 4.5 million new claims. Goldman Sachs was saying something like more

like 5.5 million new claims. Well, the real numbers topped all of that at almost 6.6 million new claims,

which means that over the last two weeks, you've seen almost 10 million people file jobless

...