The Bitcoin Bubble Explained in 4 Charts
Cryptocurrencies have surely been the best-performing asset class of 2017. The crown jewel of the crypto world Bitcoin has run up over 604% year to date. But that pales in comparison to Ethereum’s 3,562% gain this year. Naturally, these sorts of monstrous returns in such a short period of time spark heated debate. In fact, many financial pundits and crypto advocates have scrambled to argue whether Bitcoin is a bubble or not.
Nobody is going to bail out Venezuela
Venezuela is in urgent need of financial assistance. With imposed sanctions from the US, Canada, and the EU, it is unlikely that a bailout is coming from anywhere.
A US Recession: Will Economic Change Mean Political Change?
Like so many other countries, the U.S. is still coping with the social and economic fallout wrought by the 2008 financial crisis. The crisis may not have created Washington’s economic problems, but neither did it resolve them. And as those wounds continue to fester, it appears as though the U.S. is headed for recession.
Oil at Two-Year Highs as Saudi Arabia Engages in Its Own “Game of Thrones”
The crown prince of Saudi Arabia, 32, was little known outside the region before this past weekend when he jailed members of the royal family, presumably in an attempt to consolidate power ahead of taking the throne. These mass detentions signal a seismic change in Saudi leadership—which, in turn, is putting upward pressure on global oil prices.
Saudi Arabia, at War With Itself
The Saudi royal family now appears to be at war with itself. Regardless of who wins, the conflict could destabilize Saudi Arabia, which was already weakening anyway.