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BREAKDOWN: From Corporate Socialism to Dying for the Dow: 7 Themes That Defined the Week

As another unprecedented week winds down, we’re breaking down unlimited QE, digital dollars, the last break of institutional trust and more.

March 27, 2020

In this episode of The Breakdown, @NLW reflects on the themes that defined an absolutely wild week in global markets and society.

Those themes include:

  • Unlimited QE - broad new powers (corporate bond buying anyone?) and an unlimited checkbook for the Fed
  • Digital Dollars - a surprise inclusion of a digital dollar in an early Stimulus draft shifts the Overton window
  • Narrative Shift to “Grandma Dies For The Dow” - narrative analysis that suggests that the “just the flu” of two weeks has become “business closures will kill more than COVID”
  • Stimulus as Corporate Socialism - a huge bailout for businesses explained away by something that Taleb says is decidedly NOT a Black Swan
  • The Last Break of Institutional Trust - jobless claims were 4x higher than the previous record on the same day the stock market went bull again - trust in leadership is dead
  • Surveillance - a growing concern with surveillance - such as the new CDC program earmarked in the Stimulus package
  • Bitcoin difficulty adjustment - as Preston Pysh put it “this thing is so resilient it’s almost laughable”