The House approved sweeping defense policy legislation on Thursday that marks the second straight year Democrats and Republicans endorsed significant increases to President Joe Biden’s Pentagon spending plan.
Early last year, Tesla invested $1.5 billion in bitcoin, banking on what the electric car maker called the digital currency’s “long-term potential.” The company has already sold three-quarters of its holdings.
The GDP (gross domestic product) statistic portrays a view that the key driving factor of economic growth is not the production of wealth but rather its consumption. Instead, it is a calculation of the value of final goods and services produced during a particular time interval, usually a quarter or a year. Since consumer outlays are the largest part of the overall demand, it is held by many commentators that consumer spending is the key driver of economic growth.
We are now seeing the initial stages of a currency, credit, and banking crisis develop. Driving it are an inflation of prices, contraction of bank credit and a pathological fear of recession. One can imagine that the major central banks almost wish a mild recession upon us so that they can keep interest rates suppressed and bond yields low.