FET #12: The great unwinding of COVID and crypto
Lately we've seen major reversals of opinion on COVID policy and crypto. Why the change of tune? Also, Australia's seen wage growth of 3.1%, but consumer spending growth of 28%. How's that possible?
“Prediction. In ten years it will be hard to find anyone who will admit to supporting COVID lockdowns, school closures, masks, and vaccine passports.”
That was Cameron’s viral tweet this week. It gets to the heart of the great unwinding of COVID panic, an opinion shift that is becoming more evident by the day.
A similar unwinding is happening in the crypto world with the collapse of the FTX exchange. Those who bought into crypto hype for years are now changing their tune. The libertarian impulse that fed the hype turned out to just be a story, as many losers in this Ponzi scheme are now asking where the financial regulators were all along.
Lastly, in economic news, Australia has seen wage price growth of 3% in the past year, but household spending is up 28%. How can that be?
Theme music: Happy Swing by Serge Quadrado Music under Creative Commons Licence CC BY-NC 4.0
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