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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
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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”