Coin Stories News Block: Inflation Dips Below 3% But Households Still Struggling, Marathon Issues Debt to Buy More Bitcoin, Bitcoin Crash Wiped Out Speculators & Traders
Aug 15, 2024
Explore the ongoing struggle of households as inflation dips below 3%, yet costs remain high. Learn how Marathon Digital is doubling down on Bitcoin by issuing debt for more acquisitions, highlighting a bold financial strategy. Discover the dramatic impact of the recent market crash that wiped out $1.3 billion from short-term speculators, while long-term holders see this as an opportunity to strengthen their positions. The podcast dives into how companies are using Bitcoin to enhance shareholder value amid volatility.
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CPI Drop Masks Persistent Pain
- CPI dipped below 3% year-over-year, marking the first time since early 2021 and prompting calls to cut rates.
- Despite the lower rate, many essentials remain far more expensive than two years ago, so headline CPI understates lived inflation.
Middle-Class Stories Of Strain
- The Wall Street Journal shared stories of middle-class people forced to cut essential spending like tutoring and groceries.
- Those anecdotes illustrate how inflation hollowed out the middle class despite the headline CPI improvement.
Higher Inflation Baseline Is Bullish
- The Fed's 2% target remains unmet and a September rate cut could raise inflationary pressures.
- Bitwise's view: 3% may become the new baseline, which the host says is bullish for Bitcoin.