Does high US consumer debt benefit Bitcoin price?


(c) Reuters. On the latest episode

Macro Markets Cointelegraph’s Marcel Pechman explains how United States consumption is strong, while auto-loan delinquency and credit card balances are increasing. According to Pechman, consumers built a cushion of extra cash savings as the U.S. government injected money to avoid a recession and temporarily forgave student loan repayments.But, according to investment bank JPMorgan (NYSE:), “consumers have spent down the entirety of their excess savings from the pandemic, which at one point totaled more than $2 trillion,” as

reported by Business Insider. Pechman thinks that JPMorgan’s predictions were correct and the stock market would have traded much lower if they had been accurate. Still, Pechman doesn’t think that betting against the S&P 500 is sound advice, given that inflation is right around the corner and the government will be forced to inject liquidity to avoid a recession.Continue Reading on Coin Telegraph