There's a whole lot going on in the economic world today, so Jason Hartman decided to talk to Cody Mamone, CTP, a Vice President for PNC Bank, about what on Earth is going on in the cryptocurrency world, and how it might be impacted by Bitcoin now trading on 2 exchanges in the United States.
The two also delve into the growth of consumer debt in the past 5 years, as well as where interest rates may be headed and how much of an impact even a slight change in rates can have for investors and homebuyers.
Key Takeaways:
[4:47] The difference between saving versus savingS rates
[9:36] The Fed has some useful data that can be used for your investing research, and one thing in the consumer credit reports stuck out
[11:40] The growth in consumer (and student loan) debt in the last 5 years has been astounding
{14:32] Cryptocurrency mania is going crazy and it's not a healthy thing
[16:51] The REAL environmental destruction that cryptocurrencies are creating
[19:45] What's going to happen to Bitcoin now that it will be traded on 2 exchanges? Will the volatility finally end?
[25:59] Where are interest rates headed?
Websites:
A 1% rise in interest rates would disqualify 5 MILLION households from owning a $200,000 home
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