Bitcoin News and Finance
Jeff Booth Warns of Debt Deflation If Federal Reserve Keeps Hiking Interest Rates Skip to main content

Jeff Booth Warns of Debt Deflation If Federal Reserve Keeps Hiking Interest Rates

Jeff Booth Warns of Debt Deflation If Federal Reserve Keeps Hiking Interest Rates

The author of “The Price of Tomorrow,” Jeff Booth, has warned about debt deflation, calling it a “great depression on steroids,” if the Federal Reserve continues to hike interest rates. He believes that eventually the Fed “will be forced to pivot.”

Jeff Booth Warns About Danger of Continued Fed Rate Hikes

The author of “The Price of Tomorrow,” Jeff Booth, shared his thoughts in an Ask-Me-Anything session on Stacker News last week. Among numerous questions asked was whether he believes the recent Federal Reserve interest rate increases will actually cause widespread deflation. Booth replied:

If they keep hiking, it will ‘eventually’ turn into debt deflation — or credit wipeout. (ala great depression on steroids). Eventually, they will be forced to pivot.

“One important consideration for people is to think in terms of lag effect…ie 18 months from when actions are set in motion,” he continued. “Remember when no inflation, transitory inflation, high inflation,” Booth added, cautioning:

This tightening only really started in September and Fed only reduced their balance sheet by 2.7 % last year — with subsequent damage…. If they continue…..ugly.

Booth published a book titled “The Price of Tomorrow: Why Deflation is the Key to an Abundant Future” in 2020. In his book, the author explored “the problem of how to integrate the deflation brought on by technology into a system where inflation has been the norm,” according to the book’s overview. Booth believes “we can avoid a looming economic crisis if we can learn to embrace what abundance brings, which could even be a world without work.”

Booth has long been a proponent of bitcoin. He said in May last year: “Bitcoin will give individual rights and freedoms to the billions of people on our planet that should’ve had them in the first place.” The Price of Tomorrow author tweeted Friday:

We live in a world of abundance, bounded by a financial system built on scarcity. And while many don’t yet realize it because they are still trapped in the system requiring scarcity, bitcoin is the key that unlocks the abundance.

Do you agree with Jeff Booth about the Fed, debt deflation, and bitcoin? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory