Deficits May Not Matter for Larry Kudlow But They Do for Italy.
In this report, I cover the early market from London on Friday, September 28th, 2018. I look briefly at the precious metals, the stock market, the dollar, the bond market, and oil prices.
Today I cove the technical picture for the bitcoin price and why I think the bottom for bitcoin might have been made already back in June of this year.
With today being the last business day for the U.S. government 2017/2018 fiscal year I also look at the fact that the U.S. Treasury budget deficit will be ballooning this coming fiscal year as the Federal government will be spending about $2 trillion more than it takes in in taxes.
My conclusion is that deficits do matter and especially when they are running at more than 5% of GDP as they will in the U.S. and in the long run it only means one thing, a weaker dollar.
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BITCOIN: 1AkNoKzbZXJ75BbeGkD2ekUDJQNWDrBgMA
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It’s just me but I’m thinking a good run for the crypto currency’s is just around the corner. Cheers mike
Good morning mario, strange goings on with this hard fork! i do not know much about the tech side of things but i see it is having its problems, looking at the charts this morning it seams steem is the only one down in price! anyhow lets hope they smooth things out sooner rather than later? have a great weekend and enjoy the ryder cup my friend :)
Hi Andrew, I don't know much about it either. It seems to have affected the value of my steem power quite a bit even though I have noticed that it is up a bit this morning. The other thing I noticed is that for the last week or so I have not been able to transfer steem to exchanges as they are not accepting deposits. I think things will be sorted eventually. Just need to be patient. Have a great weekend too my friend!