federal reserve Market News mohamed el-erian Op-ed 

The Walking Fed Creates Zombie Horde

Stocks of zombie corporations are outperforming the S&P 500. A horde of companies too dead to feed their debts continues walking due solely to Federal Reserve bailout programs. This subverts the natural selection of capitalism and does not let the brave new world start clean. In the television series The Walking Dead, a virus creates a zombie apocalypse on earth. In reality, the Federal Reserve is working with a global virus to create a plague of zombie companies. Zombie corporations do not produce revenue capable of sustaining themselves. By definition,…

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allianz andreas utermann andrew bailey Bitcoin Opinion FCA mohamed el-erian regulation 

Cryptocurrency Should be ‘Outlawed’: Allianz CEO Andreas Utermann

Despite this year’s prolonged cryptocurrency market decline, many mainstream financial institutions and wealth managers have continued to explore how to make this nascent asset class more accessible to their clients. Firms such as Goldman Sachs and Fidelity are building crypto custody products, while exchange giants Intercontinental Exchange (ICE) and Nasdaq are focusing on futures trading. Don’t expect Allianz Global Investors to add its name to the list anytime soon. Allianz CEO Unloads on Crypto Speaking on Tuesday at a panel discussion in London, Andreas Utermann, CEO of Allianz — one…

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allianz Bitcoin Opinion mohamed el-erian 

Crypto Will Survive Bear Market But Won’t Replace Money: Allianz Chief Economist

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Crypto will survive the current market sell-off because it’s here to stay. However, cryptocurrencies won’t replace fiat money anytime soon. That’s the assessment of Allianz chief economist Mohamed El-Erian. “Cryptocurrencies will exist. They will become more and more widespread, but they will be part of an ecosystem,” El-Erian said at the Consensus: Invest conference in New York. “They will not be dominant, as some of the early adopters believed…

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