The Looming Recession Narrative Is Growing

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 12 March 2022

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. On this edition of the “Weekly Recap,” NLW wraps up the week with a look at a growing macro discourse around the possibility of recession, along with catching up on important stories in crypto including the election of a new, pro-crypto president in South Korea. - Take your crypto to the next level with Nexo. Invest and swap instantly, earn up to 20% APR on your idle assets or borrow cash against them at industry-leading rates. Get started today at nexo.io to receive up to a $100 welcome bonus. Valid through March 31. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW _ “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: mikroman6/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, March 12th, and that means it's time for the weekly
0:28.0	recap. And this week, it is a true weekly recap catching up on all the things that I missed.
0:34.0	However, before we get into that, if you're enjoying the breakdown, please go subscribe to it
0:38.5	wherever you listen to podcasts, give it a rating, give it a review, or if you want to get deeper
0:42.8	into the conversation, come over and join us on the breakers discord. You can find a link in the show
0:47.6	notes or go to bit.orgly slash breakdown pod. Also, a disclosure as always, in addition to them
0:53.1	being a sponsor of the show, I also work with FTX.
0:56.9	So, as I mentioned, I'm going to focus this weekly recap on a few of the topics that I just didn't have time to get to earlier this week.
1:03.4	However, I feel like we should do a speed run take on what are the two biggest things, inarguably, from this week.
1:10.3	The first is the biggest thing from a macro
1:12.5	perspective, and that is, of course, the first inflation print to show the influence of the
1:17.2	Russian invasion of Ukraine. Now, of course, there were only a few days in February where this
1:22.5	Russian invasion was happening, so I don't think that we can attribute too much of the 7.9% inflation print,
1:28.7	the highest in 40 years to Russia. However, what's clear is that the narrative and political
1:34.1	battle around inflation has taken on a new element because of the Russian invasion.
1:40.0	Depending on your political persuasion in America, inflation might be Biden's fault because of policies during the COVID-19 crisis.
1:47.5	It might be the problem of corporate greed and corporations using inflation as a cover for them to gouge on prices.
1:54.5	But now it also might be because of Putin's war, as President Biden put it.
2:00.4	This is something that I anticipate accelerating,
	...

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