Originally published at: https://peakprosperity.com/daily-digest/recession-delayed-but-coming-will-all-currencies-become-stablecoins-by-2030/
Economy
Lance Roberts’ analysis of U.S. economic indicators suggest the anticipated recession may be delayed rather than avoided, despite resilient GDP growth, low unemployment, and record equity markets. Factors like the longest yield curve inversion on record since the 1960s, 26 months of contracting manufacturing per the ISM Index, and the Federal Reserve’s aggressive rate hikes point to potential contraction with long lags. Persistent deficits and high valuations in mega-cap tech add risks, though consumer spending, government stimulus, and corporate balance sheet adaptations from low-rate refinancing provide buffers. Services dominance in the economy and the Fed’s recent pivot to cuts further support a possible soft landing, with economists assigning roughly equal probabilities to recession or continued expansion. Federal Reserve statements have indicated confidence in further rate adjustments to support growth and achieve a soft landing.
Tether co-founder Reeve Collins predicted that all currencies will transition to stablecoins by 2030, with fiat like dollars and euros operating on blockchain rails for enhanced efficiency. He highlighted the U.S. government’s more favorable stance toward crypto as opening opportunities for traditional finance institutions to adopt stablecoins for transactions, loans, and investments. Collins stated that tokenization of assets promises greater transparency and global mobility without intermediaries, potentially increasing returns, though risks such as blockchain bridge vulnerabilities, smart contract flaws, and hacks persist. He noted improving security measures and options for custodial versus non-custodial services to mitigate these concerns. Some financial experts have questioned the timeline’s feasibility, citing regulatory and infrastructural challenges.
US Politics
In a Chicago suburb, Immigration and Customs Enforcement officers were rammed by multiple vehicles and fired upon by an armed individual during a patrol, leading agents to return fire; no officers were injured, and the attacker sought medical treatment. Local police reportedly refused to provide support, which, according to Chicago Attorney John Garrido, could have been a violation of state law requiring they provide support to uniformed officers in distress. The Department of Homeland Security responded by deploying additional special operations personnel. Meanwhile, Illinois Governor JB Pritzker criticized federalization of 300 National Guard members for Chicago, calling it an overreach that pulls citizens from their jobs for political purposes rather than public safety.
Separately, a federal judge in Oregon issued a temporary restraining order blocking the mobilization of 200 National Guard troops to Portland, ruling that it exceeded presidential authority and risked infringing on state sovereignty under the Tenth Amendment. The order is effective for two weeks and follows ongoing protests around immigration facilities, where local law enforcement has not assisted federal operations. State and local officials in both Illinois and Oregon have described the federal deployments as violations of state rights and escalations of community tensions.
A Gallup poll conducted in September found that 28% of Americans express a great deal or fair amount of trust in newspapers, television, and radio news, the lowest level since tracking began in the 1970s. Confidence has declined from 31% last year and 40% five years ago, with 70% now reporting little or no trust. The drop affects all political groups, including a record low of 51% among Democrats, and shows a generational gap, with 43% of those 65 and older expressing trust compared to 28% or less in younger cohorts. Some media analysts have noted that while mainstream trust is low, alternative sources are reportedly gaining confidence among certain demographics.
In Washington state, Republican lawmaker Deb Manjarrez stated that her party is excluded from negotiations on the operating budget, which includes tax increases, leaving the process controlled solely by Democrats. Unilateral budgeting becomes possible when one party holds a supermajority and can therefore block the other party from participating in the process. Democratic leaders have countered that Republicans have opportunities for input in earlier stages of the budget process.
California Governor Gavin Newsom signed Assembly Bill 1340 into law, establishing the Transportation Network Company Drivers Labor Relations Act. The legislation enables over 800,000 rideshare drivers to form unions and engage in collective bargaining for wages, benefits, and working conditions through the Public Employment Relations Board. Supporters described the measure as a step toward dignity and fairness in the gig economy, following negotiations involving labor groups like SEIU California and companies such as Uber and Lyft. The bill follows Proposition 22, which voters approved in 2020 to allow drivers to remain independent contractors; that status was upheld by the state Supreme Court. Critics, including some political commentators, have argued that the law undermines drivers’ flexibility and independence in the gig economy.
Geopolitics
Federal agents reportedly discovered multiple sites and hardware connected to a network reportedly backed by China and designed to disrupt cell towers, communications, and 911 services in New York City and other urban areas. Investigations revealed capabilities for widespread interference, underscoring vulnerabilities in critical infrastructure. Chinese officials have denied involvement, describing the accusations as baseless.
President Trump authorized U.S. intelligence agencies to share targeting data with Ukraine for strikes on Russian energy infrastructure, including oil refineries, pipelines, and power plants. Reports from outlets like The Wall Street Journal indicate this step aims to disrupt Russia’s energy exports amid ongoing conflict dynamics. Critics within policy circles have raised concerns about escalation, drawing parallels to potential retaliatory actions and noting that Russia’s alliances with nations like China, Iran, and Venezuela could complicate global responses. U.S. officials have described the sharing as a measured continuation of support for Ukraine against Russian aggression, without intent to provoke broader conflict.
Israel announced preparations to implement the first phase of President Trump’s 20-point Gaza peace plan, following a positive response from Hamas. The initial stage reportedly involves an Israeli withdrawal to agreed lines, suspension of military operations, release of 250 Palestinian prisoners serving life sentences, and 1,700 detainees from post-October 7 actions. Hamas expressed willingness to release all hostages, alive and dead, and relinquish control of Gaza, though further consultations are needed on other elements like aid delivery and steps toward a Palestinian state. Netanyahu’s office pledged full cooperation with the U.S., and the Israel Defense Forces confirmed directives to advance readiness. Trump urged an immediate ceasefire in bombardment to facilitate hostage releases, describing the effort as a broader path to Middle East peace. Palestinian leaders have expressed skepticism about the plan’s long-term feasibility, citing insufficient provisions for statehood.
European Politics
Elections in both Japan and the Czech Republic have seen advancements of conservative candidates into positions of power. Sanae Takaichi was elected Japan’s Prime Minister in a vote described as a conservative victory, defeating establishment candidates. Election coverage indicates the outcome positions her to lead with a focus on traditional values. Progressive groups have voiced concerns that her policies could impact social welfare and environmental initiatives.
Andrej Babis’s ANO party secured 34.7% of the vote in the Czech Republic’s parliamentary election, positioning the billionaire—who has been called the “Czech Trump”—to return as prime minister. With around 80 seats in the 200-seat lower house, ANO lacks a majority but plans negotiations with smaller parties, including the far-right SPD and Motorists, who oppose certain EU Green policies. Babis, who previously served in power from 2017 to 2021, campaigned on economic growth, higher wages, pensions, and tax cuts to address inflation’s impact on incomes. He affirmed pro-EU and pro-NATO stances while rejecting an EU/NATO exit referendum and pledging to shift Ukraine aid responsibilities to those organizations. Observers have described the win as reflecting a broader European shift against incumbents, boosting populist and anti-immigration sentiments, though Babis faces legal challenges over past fraud charges and conflicts of interest. EU observers and outgoing officials have raised concerns about potential strains on EU unity due to ANO’s alliances with far-right groups.
Sources
Chicago Attorney Suggest Local PD Broke State Law by Issuing a Stand Down Order
“In my 32 years of service with the Chicago Police Department, I have never heard anything this egregious.”
Newsom’s Union Power Grab: California Forces Rideshare Drivers into the Fold
There is nothing “historic” about taking over a private sector industry for unionization. It’s Marxism.
Source | Submitted by Mysterymet
Trump’s Neocon Pivot: Intelligence Sharing with Ukraine Edges World Toward WWIII
Trump Takes Next Step To Bringing Us To World War III
Source | Submitted by Rodster
“Czech Trump” Babiš Storms Back to Power in Populist Election Upset
“Czech Trump” Andrej Babis Wins Election, Returns As Prime Minister In Latest European Populist Revolt
ICE Agents Rammed and Fired Upon in Chicago Suburb as Trump Deploys National Guard
ICE Agents Ambushed In Chicago As Trump Deploys National Guard
The Promised Recession: Delayed, Denied, or Just a Mirage?
But does that mean we’ve escaped it altogether? Or is the downturn still lurking, delayed by policy distortions and fiscal largesse?
Tether Co-Founder: All Currencies Will Be Stablecoins by 2030
“All currency will be a stablecoin. So even fiat currency will be a stablecoin. It’ll just be called dollars, euros, or yen.”
Federal Judge Blocks National Guard Deployment to Portland Amid Violent Immigration Protests
“This country has a longstanding and foundational tradition of resistance to government overreach, especially in the form of military intrusion into civil affairs.”
American Media Trust Sinks to Record 28% Low, Gallup Poll Shows
just 28% of Americans expressed a “great deal” or a “fair amount” of trust in newspapers, television and radio
Israel Prepares to Launch First Phase of Trump’s Gaza Peace Plan
Israel is preparing for “the immediate implementation” of the plan’s first stage
Sanae Takaichi Elected Japan’s Prime Minister in Stunning Conservative Victory
A strong conservative woman just crushed the woke establishment.
Federal Agents Uncover China-Backed Network Capable of Crippling NYC Cell Towers and Blocking 911
Federal agents have uncovered multiple sites and hardware linked to a China-backed network capable of crippling cell towers, disrupting communications, and blocking 911 calls across New York City (and many other cities).
Washington Republican Lawmaker Exposes Exclusion from Budget Negotiations
“Most people don’t know this, but the Republicans, we aren’t even allowed to negotiate on the operating budget”
In addition to sources submitted by community members, the following were also used in the creation of this report: California Globe, California Political Review, SEIU California, Los Angeles Times, Governor JB Pritzker, Mayor Brandon Johnson, Chicago Tribune, The Guardian (UK), Journalist, The New York Times, Washington State Democratic Party, Seattle Times, The Washington Post, U.S. State Department, CNN, Al Jazeera, Ismail Haniyeh, NHK World-Japan, Tokyo Politics Today, Chinese Embassy in the U.S., Global Tech Watch, Petr Fiala, EU Observer, Federal Reserve, Bloomberg, and the Financial Times.
