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News & Articles By Franz Walker
07/19/2021
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By Franz Walker
Federal government set records for taxes, spending and deficit through May
The government set new records for the taxes it collected, the spending it engaged in and the deficit it ran for the first eight months of fiscal year 2021, according to the Department of Treasury‘s Monthly statement. From October 2020 through May 2021, federal taxes hit a record $2.6 trillion while federal spending climbed to $4.7 trillion. […]
06/29/2021
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By Franz Walker
America’s richest have obtained 16 times more wealth than bottom 50% combined
Data released by the Federal Reserve on Monday, June 21, shows that the wealthiest 1 percent of Americans have 16 percent more wealth than the bottom 50 percent combined. A previous report from the Fed showed that, overall, wealth across all U.S. households increased during the first quarter. The net worth of households and nonprofits rose to […]
06/24/2021
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By Franz Walker
Food prices on the rise in America as companies look to cover higher production costs
Across America, the food on people’s plates is getting more expensive as food companies pass along higher costs to consumers. A number of food makers, including General Mills, Campbell Soup, Unilever and J.M. Smucker are raising prices at supermarkets. Meanwhile, restaurants like Chipotle and Burger King are raising menu prices. According to company executives, prices are only going to increase […]
06/24/2021
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By Franz Walker
Chinese crypto crackdown causes bitcoin prices to plunge
On Monday, June 21. the price of bitcoin and other cryptocurrencies slid further after China’s central bank ordered the country’s largest banks and payment processors to play a bigger role in curbing cryptocurrency trading and related activities. The People’s Bank of China (PBOC) on Monday summoned representatives of multiple financial institutions – including Industrial and […]
06/23/2021
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By Franz Walker
“The Big Short” investor warns about “mother of all crashes” for crypto and meme stocks
On Thursday, June 17, American investor Michael Burry, who gained fame after his crisis-era bets on the housing market became the subject of the film “The Big Short,” warned about losses “the size of countries” should crypto and meme stocks decline. “All hype/speculation is doing is drawing in retail before the mother of all crashes,” Burry […]
06/23/2021
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By Franz Walker
China’s central bank calls on top executives to reinforce crypto ban
China’s central bank ordered officials from the country’s largest banks to reinforce a ban on cryptocurrency services. A statement from the People’s Bank of China (PBOC), released Monday, June 21, said that representatives from the Industrial and Commercial Bank of China Ltd., Agricultural Bank of China and internet payment provider Alipay were summoned to a meeting where they […]
06/14/2021
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By Franz Walker
US dollar weakened during the pandemic – but its problems started long before that
The Wuhan coronavirus (COVID-19) is devastating the American economy, resulting in the U.S. dollar steadily losing value. But the dollar’s current decline in value traces its roots to more than just the pandemic. After an initial spike, the value of the dollar has been falling steadily since the pandemic took hold in the U.S. last March. It’s […]
05/26/2021
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By Franz Walker
Drop in cryptocurrency prices raises questions about their stability
Cryptocurrencies, such as bitcoin and dogecoin, went through a roller coaster the past few weeks, with prices falling from previous highs. While the values of cryptocurrencies remain high, it’s raised fears about their stability. The values of various cryptocurrencies fell over the past few weeks after Tesla CEO Elon Musk pulled the automaker’s support for bitcoin on environmental grounds. Prices […]
05/20/2021
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By Franz Walker
Signs of a bubble: Cryptocurrencies now worth more than all US dollars in circulation
Cryptocurrencies hit a significant milestone last month, reaching a valuation of $2 trillion on April 29 – the same valuation as all U.S. dollars in circulation. While the statistic is seen as a solid indicator of crypto’s growing popularity, some warn that it’s a sign that crypto is in a bubble that may soon burst. […]
05/17/2021
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By Franz Walker
Spike in value of meme crypto dogecoin raises bubble fears
The sudden surge in the value of “meme” cryptocurrency dogecoin has raised concerns about a potential bubble in the cryptocurrency market. Starting out as a joke by software engineers Billy Markus and Jackson Palmer, dogecoin was based on the “doge” meme that rose to popularity in 2013. The meme portrays a Shiba Inu dog alongside nonsensical phrases […]
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