Day: June 28, 2024

Falling new home sales: a warning of a broader economic downturn

According to recent publications, in May, new home sales in the United States fell to 619 thousand, down 11.3% for the month and 16.5% for the year. The volume of unfinished housing sales in May decreased by 2.1%, falling below the recessionary low of April 2020. This is the lowest level since records began in 2001. The reason for this dynamics is the rise in prices. Particularly interesting is that the average price of an existing home has risen above the average price of a new home. This has happened only once since 2005. Another sign that the housing market is starting to stall, which calls into question the broader economic outlook. How will we survive the recession? https://preview.redd.it/fmfld1j7ud9d1.png?width=1280&format=png&auto=webp&s=2ec668d7eb9aceb8889212c3b8f17dba9e7686dc submitted by /u/dll_crypto [link] [comments]

Most Talkable Assets Of The Week

💻 SMCI – Super Micro Computer is the most discussed potential addition to the Nasdaq 100 🥾 NKE – Nike fell into the abyss after earnings 💊 NVO – Pregnancy as side effect of Novo Nordisk’s saviors of humanity from obesity 🥇 DJT – Trump Media & Technology Group rose 7.7% following the first presidential debate Thursday evening 📈 SOL-USD – Solana’s price is jumping after VanEck filed for a Solana EFT in the US called the VanEck Solana Trust Quote of the week: ‘For a security to be mispriced, someone else must be a damn fool. It may be bad for the world, but not bad for Berkshire.’ – Charlie Munger Is there anything missing? Anyway, have a great weekend everybody. submitted by /u/FXgram_ [link] [comments]

Bolivia officially legalizes crypto payments for bank

Bolivia has lifted the ban on Bitcoin and other cryptocurrencies. On June 26, the Central Bank of Bolivia (BCB) officially announced that banks can now conduct transactions with crypto. This regulatory change revokes Board Resolution N°144/2020, which had been in place since December 2020. This regulatory adjustment results from a collaboration between the Central Bank of Bolivia, the Financial System Supervisory Authority (ASFI), and the Financial Investigations Unit (UIF). The update aligns Bolivia with the recommendations of the Latin American Financial Action Task Force (GAFILAT), which has been pushing for adaptations to crypto. Although cryptocurrencies can now be traded through authorized electronic channels, the Central Bank of Bolivia has reminded citizens that cryptocurrencies are not considered legal tender. This means there is no obligation for businesses to accept them as payment. The BCB emphasized this point to ensure the public understands the limitations and legal status of cryptocurrencies in Bolivia. In addition to lifting the ban, the BCB has announced plans to incorporate information on the risks associated with cryptocurrencies into its Economic and Financial Education Plan. This aims to educate the public on how to safely handle cryptocurrencies and understand the potential risks involved. Bolivia hated crypto The ban lift comes after years of stringent regulations. In 2014, Bolivia’s Financial System Supervision Authority issued a resolution prohibiting the use of crypto. This ban cited a lack of consumer protection and the potential for money laundering. Again, in 2022, the Bolivian central bank prohibited the banking sector from using, marketing, or transacting cryptocurrency assets. The reason given was to protect the public from “risks, frauds, and swindles” and to prevent “economic losses.” This regulatory change occurs against a backdrop of political and economic turmoil. Recently, Bolivia experienced a dramatic coup attempt. Soldiers took over La Paz’s central square and rammed the presidential palace with an armored truck. The coup, led by rogue General Juan Jose Zuniga, was put down as quickly as it began. Zuniga was arrested on live TV after realizing he had little support for his actions. submitted by /u/Lor1al [link] [comments]