I was aware that after all the money printing and giveaways during the COVID was just delaying the payment of the crisis ´till a moment in which the economy could possibly take better care of it. However, it was certain that the true cost of the crisis was not being paid. But here is the bill: Soaring inflation, happily accepted by governments in Europe and mainly in US: 5% YoY in August.
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
Yeah, for sure.
I'm very skeptical of Powell's sentiment that this inflation is going to be "transitory" in nature.
Until the Fed turns to tightening their monetary stance there is really going to be no chance of a recovery in the short term, in my opinion. Inflation is going to remain high at the 5-6% p.a. figure and speculative assets are going to trump other real assets.