What a US government shutdown would do to Bitcoin
Marcel Pechman explains the myth of excess cash in U.S. households and the lack of sufficient savings, and how a U.S. government shutdown could impact Bitcoin. On the latest episode of Macro Markets , analyst Marcel Pechman examines the current state of the American economy. He references a headline from Barron’s that highlights the disparity between people’s perception of the economy and the objective data. Pechman delves into the concept of excess savings, agreeing with Barron’s that a significant portion of the United States population lacks sufficient savings for retirement, potentially necessitating longer working years. He notes that household wealth in the U.S. has reached new heights, primarily due to surges in equities and real estate assets. Shifting his focus, Pechman discusses rising concerns among U.S. consumers about increasing prices, particularly the cost of filling up their vehicles with gasoline. He connects this to the recent surge in U.S. crude futures, influenced...