The US is struggling to admit that the economy is in recession. That’s despite a recent warning by the World Bank that the US, China, Eurozone, and other major economies are sharply slowing into recession with disastrous long-term effects on developing economies.
Given the controversy generated by its playbook to the 2007/08 recession, Washington may have chosen to make tough choices behind the cover of willed opacity. In the circumstances, Bitcoin’s safe haven promise has come into focus once again.
What role could the crypto asset play at a time of economic uncertainty?
US: ‘we are not in a recession’
A Reuters poll of economists and independent observations by top CEOs that the U.S could tip into recession next year concur with a World Bank report that the global economy is in its steepest slowdown since 1970.
Washington, however, has repeatedly dismissed concerns over the recession. “We are not in recession,”…
