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Investro Tea: Week #30

After delays caused by the COVID pandemic, the Tokyo 2020 Olympics have finally started. From the financial standpoint, it is in red numbers. However, we must not forget that there is much more going on in the field of economics and finance. So today, let's take a look at some economic news.

US crisis

US President Joe Biden continues his efforts to protect the economy from the crisis. Biden seeks to reduce monthly mortgage payments by up to 25% for those who have mortgages covered by federal funds and whose grace period expires.

The aim of this state program is to prevent a sharp increase in the number of confiscated properties in the coming months. In total, up to 1.6 million homeowners are in serious arrears, which means they have not been paying for at least 90 days. The nationwide ban on foreclosure will expire on July 31.

You can read more about this program here .

US president - Joe Biden Joe Biden, the president of USA Source: https://www.whitehouse.gov/

The pandemic crisis is not only reflected in the economy but also in demography. The United States has seen the smallest population growth in history. As many as half of its states have recorded a decline in population. The total growth of the population was only 0.35% and the consequences will of course not be apparent immediately, but rather in the generations to come once the current productive part of the population will retire. More on the Wall Street Journal .

The crisis is affecting also the supply chains. With goods such as wood, steel, and computer chips being highly scarce. TSMC's CEO said the company was in the early stages of considering building a chip plant in Germany to help address the global chip shortage, more in Bloomberg magazine .

Cryptocurrency window

Cryptocurrencies grew aggressively over the weekend. Bitcoin managed to get + 12% and peaked at around $ 38,250 and Ether grew by + 9% to $ 2,300. The price of Bitcoin probably rose based on the information that Amazon will start accepting BTC as currency. However, Amazon immediately denied this information.

This week, we recommend you to read our article on Blockchain and Artificial Intelligence. You can read it here .

And what is definitely also worth reading is the article about the current situation surrounding Uniswap. Read on .

Jan is interested in business, technology and investment.

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