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People Aren’t Buying the ‘Great American Recovery’ Narrative

Despite the stock market returning to all-time highs, many can’t shake the feeling that all is not well in the economy.

Updated Sep 14, 2021, 9:46 a.m. Published Aug 22, 2020, 2:00 p.m.
(Luke Stackpoole/Unsplash)
(Luke Stackpoole/Unsplash)

Despite the stock market returning to all-time highs, many can’t shake the feeling that all is not well in the economy.

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This episode is sponsored by Crypto.comBitstamp and Nexo.io.

See also: S&P5 vs. S&P 500: The Real Story of the Stock Market Recovery

Today on The Breakdown’s Weekly Recap:

  • People aren’t buying “the Great American Recovery”
  • Let’s stop considering the economy as one thing
  • Dave Portnoy doesn’t care about your principles
  • DeFi is the Wild West and saved only by the fact that no normie understands what the hell is going on
  • Bitcoin is being compared to the dollar not stocks and that’s serious progress

This week on The Breakdown:

Monday | What’s Actually Happening With Inflation Right Now

Tuesday | How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann

Wednesday | S&P5 vs. S&P 500: The Real Story of the Stock Market Recovery

Thursday | The Most Pro-Bitcoin Politicians in the US

Friday | Winter Is Coming: Examining the Economy’s Eight-Body Problem

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.

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What to know:

  • Bitcoin rose above $90,000 during U.S. trading hours on Friday.
  • It's a notable change in trend, as crypto prices late in 2025 were typically on the defensive while American stocks traded.
  • Strategy, Coinbase, Hut 8 and Galaxy Digital were among the crypto-related stocks seeing strong gains.