4.8 • 786 Ratings
🗓️ 31 August 2022
⏱️ 17 minutes
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0:00.0 | Welcome back to The Breakdown with me, NLW. |
0:09.2 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
0:14.8 | The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk. |
0:22.8 | What's going on, guys? It is Tuesday, August 30th, and today we are discussing Europe's energy crisis. |
0:29.3 | Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, |
0:33.3 | give it a rating, give it a review, or if you want to dive deeper into the conversation, |
0:36.9 | come join us on the breakers discord. You can find a link in the show notes or go to bit.ly |
0:41.0 | slash breakdown pod. Also, a disclosure, as always. In addition to them being a sponsor of the show, |
0:46.3 | I also work with FTX. All right, guys. Well, it is fairly quiet in crypto, which is in part |
0:53.5 | sort of what you'd expect at the end of the summer. |
0:55.9 | However, it also reflects the fact that right now, all eyes are on the macro. |
1:01.7 | And by that I mean, of course, the battle between on the one hand inflation and on the other |
1:06.6 | reduced growth. |
1:08.6 | One of the chief combatants in this fight is the Federal Reserve, and as we |
1:12.4 | discussed yesterday, part of what's causing this latest leg down is that markets are getting |
1:17.0 | the memo that this is a Fed that is going to be higher for longer. It is going to continue to push |
1:21.9 | rates up until it feels like it has completely broken the back of inflation. What's more, it's a Fed that's making |
1:28.2 | it very clear that there will likely be pain as a price to pay for getting inflation down. |
1:33.4 | Part of what that pain looks like is reduced growth. We are already in a period of contracting |
1:38.7 | GDP, and frankly, the U.S. is in a lot better shape than some other parts of the world. |
1:44.5 | Europe is, of course, not just dealing with the inflationary fallout of the pandemic, |
1:48.8 | but also a new geopolitical reality of war that is significantly disrupting energy among |
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