BREAKDOWN: From Corporate Socialism to Dying for the Dow: 7 Themes That Defined the Week
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 27 March 2020
⏱️ 23 minutes
🧾️ Download transcript
Summary
In this episode of The Breakdown, @NLW reflects on the themes that defined an absolutely wild week in global markets and society.
Those themes include:
- Unlimited QE - broad new powers (corporate bond buying anyone?) and an unlimited checkbook for the Fed
- Digital Dollars - a surprise inclusion of a digital dollar in an early Stimulus draft shifts the Overton window
- Narrative Shift to “Grandma Dies For The Dow” - narrative analysis that suggests that the “just the flu” of two weeks has become “business closures will kill more than COVID”
- Stimulus as Corporate Socialism - a huge bailout for businesses explained away by something that Taleb says is decidedly NOT a Black Swan
- The Last Break of Institutional Trust - jobless claims were 4x higher than the previous record on the same day the stock market went bull again - trust in leadership is dead
- Surveillance - a growing concern with surveillance - such as the new CDC program earmarked in the Stimulus package
- Bitcoin difficulty adjustment - as Preston Pysh put it “this thing is so resilient it’s almost laughable”
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Transcript
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| 1:03.7 | Welcome back to the breakdowndown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 1:07.1 | The Breakdown is distributed by CoinDesk. |
| 1:15.0 | Welcome back to The Breakdown. It is Friday, March 27th. And for those of you who were listening yesterday, I mentioned that there was going to be a really exciting guest today. That has been |
| 1:19.2 | pushed back a week, but it's okay because I was feeling the need to actually try to almost take a |
| 1:24.7 | step back and gather up my thoughts on what is just another in a sequence of |
| 1:29.4 | literally insane weeks. It feels like 2020 has been a full decade in just three months. |
| 1:35.3 | So today's episode is going to be the seven themes that defined the week. And maybe I'll think |
| 1:40.1 | of a more catchy title before I actually push it live, but seven themes that define the |
| 1:44.5 | week. So quickly I'm going to talk about unlimited QE, CBDCs, Central Bank Digital Currencies, |
| 1:49.9 | narrative shift to let Grandma die, stimulus as corporate socialism, the lack of failure of |
| 1:55.0 | institutional trust, surveillance, and the Bitcoin difficulty adjustment. So let's dive in. |
| 2:01.6 | All right, so theme one, unlimited QE. |
... |
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