FET #12: The great unwinding of COVID and crypto

“Prediction. In ten years it will be hard to find anyone who will admit to supporting COVID lockdowns, school closures, masks, and vaccine passports.”That was Cameron’s viral tweet this week. It gets to the heart of the great unwinding of COVID panic, an opinion shift that is becoming more evident by the day. A similar unwinding is happening in the crypto world with the collapse of the FTX exchange. Those who bought into crypto hype for years are now changing their tune. The libertarian impulse that fed the hype turned out to just be a story, as many losers in this Ponzi scheme are now asking where the financial regulators were all along. Lastly, in economic news, Australia has seen wage price growth of 3% in the past year, but household spending is up 28%. How can that be?Follow Cameron and Jonathan on Twitter.Theme music: Happy Swing by Serge Quadrado Music under Creative Commons Licence CC BY-NC 4.0Please leave a comment with your ideas for future podcast conversations and Substack posts.Thanks for reading Fresh Economic Thinking! Subscribe for free to receive new posts and support my work. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe