Lennon asked the U.S. government to comment on the stock market meltdown, adding that the community on X deserves to have “a little talk, a little reassurance.”
As reported earlier, the stock market went down sharply in the U.S. after an even worse situation that happened to the stock market in Japan last week caused largely by the interest rate increase made by the Bank of Japan earlier.
Bitcoin reacted to the market crash with a massive drawdown, pulling the rest of the cryptocurrency markets along.
Taleb pointed out that for 33 years before now, Japan has been keeping its interest rates close to zero, only adding quantitative easing measures to that. All of that comes “at a price you eventually must pay,” the scholar concluded. He added that Japan has been always mentioned by QE supporters as “a place where the strategy worked.”
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
