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Conflicting Opinions on Future of US Economy, Bitcoin Added to Guinness World Records, and More — Week in Review

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Conflicting Opinions on Future of US Economy, Bitcoin Added to Guinness World Records, and More — Week in Review


Economist and gold bug Peter Schiff has warned that the United States Federal Reserve’s actions to rein in inflation could lead to a “massive financial crisis” or flight away from the dollar on a global scale. Meanwhile, Joe Biden says the economy is “strong as hell,” and Bank of America and JP Morgan also say the economy is in good shape. Outside of the world of state-created, centralized money, bitcoin has now been added to the Guinness Book of World Records.


Economist Peter Schiff Warns Fed Action Could Lead to Market Crashes, Massive Financial Crisis, Severe Recession


Gold bug and economist Peter Schiff says there are two possible outcomes of the Federal Reserve’s action on the U.S. economy. One outcome leads to “a massive financial crisis and severe recession” as stocks, bonds, and real estate crash. In the second outcome, “the world will run away from the dollar,” the economist stressed.


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Biden Says US Economy Is ‘Strong as Hell’ — White House Claims the President ‘Has Done the Work’ to Fix Inflation


U.S. President Joe Biden has been criticized for stating that the U.S. economy is “strong as hell” as inflation rises to a 40-year high. Meanwhile, the White House claims that Biden understands and “has done the work” to fix the inflation issue.


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Bitcoin Added to the Guinness Book of World Records as the ‘First Decentralized Cryptocurrency’


Since 1955 Guinness World Records (GWR) has published a reference book annually that covers world records from extreme natural events to human achievements. This year, Bitcoin has entered the fray as the world’s first and most valuable cryptocurrency network as GWR has added the subject to this year’s annual records.


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Bank of America and JPMorgan Say US Economy Is Doing Well, Consumers Are in Good Shape Despite Inflation


Bank of America CEO Brian Moynihan and JPMorgan & Chase CEO Jamie Dimon both agree that the U.S. economy is doing well and consumers are in good shape. “The consumers basically have more money in their accounts by multiples than they did pre-pandemic,” said the Bank of America chief.


Read More Tags in this story Bank of America, Bitcoin, Chase, economic crash, Federal Reserve, Guinness Book of World Records, inflation, Joe Biden, JP Morgan, Peter Schiff, prediction


What’s your take? Is the U.S. economy “strong as hell,” or is economist Peter Schiff onto something with his views concerning an incoming disaster? Be sure to let us know in the comments section below. Bitcoin.com


Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. New Satoshi Notations Discovered, Bitcoin"s Halving Progress, Mad Money"s Cramer Miffed After SEC Filing — Week in Review THE WEEKLY | Oct 16, 2022 2008 "Lehman Moment About to Hit" — Major Banks Suffer; How to Access Your ETHW, "No Digital Dollar Act," Sega Blockchain Game — Bitcoin.com News Week in Review THE WEEKLY | Oct 9, 2022


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