Month: December 2021

Unless your income and assets are up by a good 7% over the last 1.5 years, you are now worse off than before Covid hit. A system unprepared for and unable to cope with Covid fails us yet again via inflation. Trump, Biden blame each other, but the system is the problem. via /r/economy

~ chetwang ~ Leave a comment


Unless your income and assets are up by a good 7% over the last 1.5 years, you are now worse off than before Covid hit. A system unprepared for and unable to cope with Covid fails us yet again via inflation. Trump, Biden blame each other, but the system is the problem.
https://twitter.com/profwolff/status/1476968896049467395

Submitted December 31, 2021 at 03:23PM by failed_evolution
via reddit https://www.reddit.com/r/economy/comments/rt2fqm/unless_your_income_and_assets_are_up_by_a_good_7/?utm_source=ifttt

US “military spending involves a massive redistribution of wealth from the public to private sector.” Over half (55%) of all Pentagon spending goes into the pockets of corporate death profiteers, aka private military contractors. via /r/economy

~ chetwang ~ Leave a comment


US “military spending involves a massive redistribution of wealth from the public to private sector.” Over half (55%) of all Pentagon spending goes into the pockets of corporate death profiteers, aka private military contractors.
https://twitter.com/BenjaminNorton/status/1476925325082873868

Submitted December 31, 2021 at 02:01PM by failed_evolution
via reddit https://www.reddit.com/r/economy/comments/rt0rue/us_military_spending_involves_a_massive/?utm_source=ifttt

We have a powerful weapon to fight inflation: price controls. It’s time we consider it. To prevent inflation after World War II, America’s leading economists recommended strategic price controls. via /r/economy

~ chetwang ~ Leave a comment


We have a powerful weapon to fight inflation: price controls. It’s time we consider it. To prevent inflation after World War II, America’s leading economists recommended strategic price controls.
https://www.theguardian.com/business/commentisfree/2021/dec/29/inflation-price-controls-time-we-use-it

Submitted December 31, 2021 at 11:23AM by HenryCorp
via reddit https://www.reddit.com/r/economy/comments/rsxfjt/we_have_a_powerful_weapon_to_fight_inflation/?utm_source=ifttt

“The Internet will weaken nation-states over the 21st century: As earthlings exchange ideas and realize they have more in common than their states made them believe, alternative identities will appear, not based on who lives near you, but on who thinks like you.” via /r/economy

~ chetwang ~ Leave a comment


“The Internet will weaken nation-states over the 21st century: As earthlings exchange ideas and realize they have more in common than their states made them believe, alternative identities will appear, not based on who lives near you, but on who thinks like you.”
https://www.pairagraph.com/dialogue/6d8419afd863449ea76dcdcb4bf45a10?2

Submitted December 31, 2021 at 11:08AM by SpringSprung33
via reddit https://www.reddit.com/r/economy/comments/rsx44r/the_internet_will_weaken_nationstates_over_the/?utm_source=ifttt

If You Invested $1,000 in Bitcoin or Ethereum a Year Ago via /r/economy

~ chetwang ~ Leave a comment


If You Invested $1,000 in Bitcoin or Ethereum a Year Ago

In 2021 we are seeing cryptocurrency explode in mainstream interest and curiosity. A lot of people bought cryptocurrency for the first time this year. Along with institutional adoption and government regulatory interest, these crypto newcomers are influencing the once-fringe crypto landscape and moving the needle toward mainstream adoption.

If you do decide to get into crypto, consider not making a large purchase all at once, but instead dollar-cost averaging by spreading it out into smaller purchases over time.

Bitcoin

The world’s largest cryptocurrency by market cap had a strong 2021. In February, it hit a $1 trillion market cap for the first time but has since pulled back to close to $900 billion.

Price on Jan. 1: $29,290

Price on Dec. 31: $47,000

A $1,000 investment in bitcoin at the beginning of the year at a price of $29,290 would have bought you 0.034 tokens. You would earn $604.64 (60.464%).

Ether

The value of a single ether, the Ethereum blockchain’s token, is up huge over the past 12 months. Supporters of Ethereum say the blockchain will become more scalable, secure, and sustainable after its Eth2 upgrade, slated for 2022, during which the network will shift to a proof of stake, or PoS, model.

Price on Jan. 1: $730.30

Price on Dec. 31: $3,700

A $1,000 ether purchase on Jan. 1 at a price of $730.30 would have bought you 1.369 tokens. You would earn $4 066.41 (406.641%).

What if I additionally deposit my crypto?

The premise of an interest-earning crypto account is the same as a regular savings account. You deposit your Bitcoin or Ethereum and earn compound interest on your assets. Its true potential is seen when decentralized finance goes on stage. For example, with the Midas earning interest platform, your same initial $1000 investment in BTC in January 2021 would allow you to earn around $701 (instead of $604). In the case of ETH, it would allow you to earn around $4 999 (instead of $4 066).

Submitted December 31, 2021 at 04:58AM by MDiffenbakh
via reddit https://www.reddit.com/r/economy/comments/rsqm5e/if_you_invested_1000_in_bitcoin_or_ethereum_a/?utm_source=ifttt

Bank accidentally deposits $176 million into people’s accounts on Christmas Day via /r/economy

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Bank accidentally deposits $176 million into people’s accounts on Christmas Day
https://www.cnbc.com/2021/12/31/santander-accidentally-put-millions-into-random-accounts-on-christmas-day.html

Submitted December 31, 2021 at 04:36AM by readerseven
via reddit https://www.reddit.com/r/economy/comments/rsqb14/bank_accidentally_deposits_176_million_into/?utm_source=ifttt