I believe that Scorum and Steemit will soon explode with new members and higher demand, here's why.
U.S. RECESSION LOOMS
Bond yields spooked Wall Street last week, leading to a 460-point drop for the Dow — the market’s biggest dip since early January. The S&P 500 and the NASDAQ dropped as well. Here’s everything you need to know about the bond market yields and what they could say about the economy. https://nationwidecoins.com/u-s-recession-looms/
The new jobs report comes out tomorrow in the United States and I suspect that the numbers will be significantly below the projections for this quarter as the economy begins to turn toward a recession that may be much worse than what happened in 2007-08. If I'm correct on this assertion and the Federal Reserve lowers the Fed rate as President Trump has been prompting them to do, then we are probably about to witness a major economic shift which will create a lot of instability throughout the monetary system.
So what does all of this have to do with cryptocurrencies in general and with Steemit and Scorum in particular?
Well, if there is a banking crisis people will get the idea that their money may not be safe in the banks, so they will need to find a safer location for it. And if there is an equity market crisis then those investors who are fleeing those investments will also be looking for safety. Then you have all of the asset bubbles that have popped up all over the planet, what happens if those bubbles begin to burst and those investors try to recover whatever they can from that market as it crumbles?
What I'm saying is that there could soon be a heck of a lot of money trying to find a safe haven in the not too distant future, and at the same time there may be hundreds of thousands or even millions of people from all around the world who no longer have a job.
Now enter cryptocurrencies, here we have a growing asset market which can accept an unlimited amount of new capital and turn those investments into huge profits, why wouldn't money fleeing failing investments surge into cryto's like a tidal wave?
And why wouldn't people who have just lost their income start looking for alternative income sources? If the world goes into a recession then any available job will have been taken or there will be stiff competition for any open positions. So if you lose your job you begin to live off of savings and unemployment, oh but your savings are in a bank, so now what?
How many active blockchain projects exist where you can both earn off of your savings and also work part time or full time to earn more crypto's? Are you getting the picture yet?
I know most of you despise the meager earnings that you are presently receiving from your Scorum accounts and you just can't quite visualize yet what Scorum would look like if there were 100K members here actively trying to earn Scorum coins. How about 1 million new users seeking an income? With Steemit and Scorum being a couple of the few places to easily work and earn cryptos, and if millions of people worldwide were suddenly out of a work, is it not reasonable that many of them might walk into these blockchain platforms with as much of their savings as they could get out of the bank and bring with them?
If we had a sudden influx of thousands of new members on Scorum I can guarantee you that the price of SCR would rise dramatically, and along with it the value of your blogs and curation rewards would also increase very significantly.
I'm speculating of course, even if we were to have another recession it might not even be as bad as the last one in 2008. Some of you guys were so young back then that you hardly even remember what exactly happened, you sure don't remember what almost happened. Maybe it won't happen like that again, or maybe things will never get all that bad. But I've been around long enough to know what danger smells like, and it is certainly hanging in the air right now over the financial system and you can see it in the tensions that are rising between Governments.
Three Weeks That Changed The World
“It was the year the neo-liberal economic orthodoxy that ran the world for 30 years suffered a heart attack of epic proportions. Not since 1929 has the financial community witnessed 12 months like it. Lehman Brothers went bankrupt. Merrill Lynch, AIG, Freddie Mac, Fannie Mae, HBOS, Royal Bank of Scotland, Bradford & Bingley, Fortis, Hypo and Alliance & Leicester all came within a whisker of doing so and had to be rescued.”
“It began on Sunday evening with an unbelievable personal fall from grace and ended with the most spectacular American banking collapse seen in decades.”
Have we actually fixed the problems that caused the financial crisis in 2007-2008, or did we just kick the can down the road and continue the same monetary policies and practices that led to the problems in the first place? All this even while the Governments of the world created trillions of new money to keep liquidity in the markets and the sinking ship afloat for as long as possible? Were they buying time until they could get a new system in place? Were they trying to keep the ponzi scheme going until enough of the blockchain projects were complete and the financial infrastructure in place so that they could perform a controlled collapse of the old system into the new blockchain based financial system?
I think these questions will all be answered soon, but my conclusions on the matter is part of the reason why I'm even here in the first place. I expected the economy to collapse in 2008 and it almost did, who could have guessed that the governments of almost every nation with a sovereign currency would be able to get away with printing up so much new cash without anyone revolting against them or even mounting a serious opposition against the practice?
Now we seem to be nearing the end of the road for such shenanigans and it looks like the bridge is out ahead. I certainly can't tell you what happens next, but I'm both on Scorum and Steemit as well as a few other blockchain platforms because I wanted to get ahead of the storm and seek shelter. You may also be glad you have made yourself a bed under the Scorum canopy someday soon. I certainly don't want the world financial system to collapse or witness all of the terrible things that such an event would bring. But I am doing all that I can to be ready just in case something like that does happen.