Depending upon who you ask somewhere between 22 to 40% more US dollars are in circulation today than in 2019.
https://www.cityam.com/almost-a-fifth-o ... this-year/Crypto is really just a method to get around reckless fiat currency printing and unsound economic policy writ large by most of the larger states. Unfortunately, all the developed economies are doing this and increasing third world countries like the CCP. All of these states have runaway debt, aging populations and increasingly socialist economic policy.
The US stock market is poised for a major crash. P/E is out the window on all the vanity stocks (Facebook, Tesla, Google, etc.) and it is increasingly creeping into stocks that manufacture durable goods as well. Mainly because even the investor class can't find anywhere to put their increasingly valueless dollars.
Most tellingly the ultimate in mobile elites at Nomad Capitalist are telling people to divide their holdings between cyrpto, real estate in hot markets, and gold. This is short for "all hell is about to break loose and we don't know what to do." So if those guys can't figure out where to go investment wise the situation is pretty dire. (
https://nomadcapitalist.com/)
My guess is most developed states will find a way of severely limiting individual level access to both the stock market and cypto once this hits. Either thru excessive taxation, I already pay 25% on crypto trades held less than a year, or access fees like charging $200 USD for an individual trade versus the essentially free trading that takes place now. It's more about maintaining position for elites than the economic well being of the states involved.
More calls for the long discredited Universal Basic Income (UBI) will go out. Hard to tell if that will be approved at some point or not. If it does, it will just accelerate the devaluation of the currencies that sign on to it.
The penalty phase for that useless horndog Clinton's hat trick of defining away inflation is coming home to roost and it is happening at a breakneck speed. I just paid $22 USD for breakfast at a local diner that cost me $13-15 USD last year.
It is going to be a rough ride for anyone that doesn't own a durable good that can self index to all of the inflation, formal or otherwise, that is going on. You need to own a product that scales and run your worthless fiat dollars you get paid in to crypto and/or metals. Being an owner operator won't work long term as you can't turn your pricing fast enough to keep up with devaluing fiat and maintain your customer base. Likewise being a salaried worker is equally stupid at this point as you won't be able to increase your salary fast enough either.
And that does not get into the massive wave of bankruptcies that will take place in the last half of 2021 and early 2022. People keep forgetting that the US effectively nuked 25% of its economy last year between state level shutdowns and out of control rioting in many urban areas. Sadly this is not a US centric problem either.
Between billions in lost privately equity from small businesses simply burning to the ground and "police reform" movements that have made these urban areas ungovernable, these places will not recover. You can now shoplift $950 USD in consumer goods in southern California and the police won't press charges as it is only a misdemeanor. Good luck running a retail business under those circumstances. Likewise, every business one of my startups worked with in SoHo got burned out in a six week period last year during the riots there that the press couldn't be bothered to cover. None of those businesses are coming back.
The people who voted for the politicians who put these policies into place are about to get a lesson in real world economics. They are going to get it good and hard.