BREAKDOWN: China Stocks Surge and NYC Real Estate Craters... 5 Stories Shaping Markets Today
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 6 July 2020
⏱️ 21 minutes
🧾️ Download transcript
Summary
The story of the economy as told by five macroeconomic indicators including Chinese stocks, New York City real estate, coronavirus cases and more.
This episode is sponsored by Bitstamp and Crypto.com.
In this extended Brief, NLW tells the story of the economy through five themes:
- China stocks surge – but how much is it driven by Chinese state-sponsored media hype?
- A tale of two cities – real estate in New York City and Hong Kong are telling very different stories
- A global currency crisis in Lebanon – foodstuffs are up 100% in the last two weeks as the pound continues to falter
- The COVID-19 ticker – daily cases continue to grow in the U.S. but deaths are declining
- The cost of the U.S. losing its place in the world - from travelers turned away in Italy to decreasing capital inflows
- Plus a bonus: what the Nasdaq all-time highs really mean
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Transcript
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| 0:00.0 | Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond. |
| 0:13.0 | This episode is sponsored by BitStamp and Crypto.com. |
| 0:18.0 | The breakdown is produced and distributed by Coindesk. |
| 0:22.5 | And now here's your host, NLW. |
| 0:27.8 | Welcome back to the breakdown. |
| 0:30.1 | It is Monday, July 6th, and I hope that you guys had an excellent 4th of July weekend, wherever you were celebrating. Independence Day, |
| 0:39.5 | big symbolic day, lots of contention this year around what its legacy is and what we should |
| 0:44.8 | be going for, which I would remind everyone is kind of the point. So not something that I think is a |
| 0:50.3 | bad thing, even if it's hard in a lot of ways. But anyways, let's talk about the economy. |
| 0:56.0 | Today's episode is all about five different themes that I think tell the story of this moment. |
| 1:02.1 | And I wanted to do an episode like this because with the holiday last week, obviously, we did |
| 1:07.0 | primarily interviews. It was the Free Ideas Festival, and there were a lot of great ideas |
| 1:12.9 | that we explored, and so if you haven't listened yet, I highly encourage you to go back and check |
| 1:16.8 | that out. But because of that, we didn't spend that much time on actual economic news and understanding |
| 1:22.3 | what was going on. So today I'm basically doing an extended brief, five themes instead of three with a little |
| 1:28.5 | bit more detail around some different stories that I think are really reflective of the |
| 1:33.3 | market that we're seeing going into this week. Before we kick off, if you are enjoying the |
| 1:38.7 | breakdown, it would mean so much to me if you would go to Apple, iTunes, or Spotify, or wherever |
| 1:43.8 | you listen and rate this |
| 1:45.5 | thing. It makes a huge difference in terms of new people discovering this content and |
| 1:49.8 | is hugely appreciated by me. With that said, let's dive in to the themes. |
| 1:56.1 | Theme one, China is popping off. The global rally in stocks today is being largely attributed to excitement |
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