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How did the debate between Kamala Harris and Donald Trump go? Things to know

How did the debate between Kamala Harris and Donald Trump go?

On 10 September, Kamala Harris and Donald Trump held the long-awaited official debate for the November presidential election. Who came out on top?

On 5 November, US voters will go to the polls to elect the next president. Initially planned as a rematch of the 2020 election, this election was turned upside down in July when President Joe Biden decided to end his campaign and endorsed Vice President Kamala Harris. The big question now is: will the result mean a second term for Donald Trump or the first woman president of the United States?

Harris vs Trump: the debate and the effect on the campaign

10 September marked a very important moment in the presidential election race for both candidates, especially for Kamala Harris, who took the opportunity to introduce herself to Americans as the new leader of the Democratic Party after the resignation of Joe Biden. Harris addressed all Americans still undecided about voting, taking the stage determined to represent the ‘face of change’ and show a ‘new way forward’ for all Americans. On the other hand, Trump maintained his style, emphasising the strong positions that distinguish him and criticising his rival’s lack of pragmatism. 

Harris vs Trump: a heated confrontation on crucial issues

The debate, held in Philadelphia and moderated by David Muir, saw the two candidates address topics of great relevance to voters: the economy, inflation, immigration and abortion. Harris tried to position herself as the middle-class candidate, accusing Trump of being the ‘champion of the billionaires’. At the same time, Trump portrayed Harris as a left-wing extremist who lacks the experience needed to govern.

Kamala Harris had a slower start but managed to carbonise and put Trump on the spot on sensitive issues, such as his popularity among world leaders and judicial troubles. She tried to present herself as a pragmatic and decisive leader, ready to confront international and domestic challenges, such as foreign and social policy issues.

On the other hand, Donald Trump maintained his usual provocative style, trying to discredit his opponent with personal attacks and repeated references to Joe Biden’s tenure, which he described as a failure. Despite his tendency to respond to provocations, Trump has tried to avoid excessively personal attacks while maintaining a harsh tone, especially on immigration, an issue on which he has a lead in the polls.

Taylor Swift’s endorsement and the ‘Spin Room’

One of the most talked about moments of the evening was Taylor Swift‘s endorsement of Harris. The pop star, very influential on social media, endorsed the Democratic candidate with a message to her fans, emphasising her support for Harris. This could have a significant impact, especially among younger voters.

Both camps declared victory in the ‘spin room’ after the debate. Trump’s allies tried to downplay the damage caused by some of his controversial statements, such as when he claimed that Haitian immigrants steal and eat pets in Ohio, a claim immediately denied by the moderator.

Who won the debate?

Regarding immediate reactions, Harris has consolidated his position, standing up to Trump and not giving in to his provocations. Trump appeared confident but was challenged on sensitive points, such as his judicial troubles and popularity among world leaders. 

However, both candidates have offered few concrete details about their programmes, leaving many voters questioning the United States’ political future. It is, therefore, too early to assess the impact on the polls, which may better indicate whether there will be any change in electoral preferences in the coming days. Indeed, the seven states with the most significant polling stations – Wisconsin, Pennsylvania, Nevada, North Carolina, Michigan, Georgia and Arizona – will play a key role.

These seven states can, in turn, be divided into three different territorial categories. Pennsylvania, Michigan and Wisconsin, all located north of the Canadian border, represent the most industrial part of the country. North Carolina and Georgia, on the other hand, are located south of Washington, while Nevada and Arizona are the most important in the Western United States. 

Who is leading in the polls?

In the months before Biden’s retirement, polls consistently showed him trailing Donald Trump. Although Harris initially struggled to improve those percentages, his campaign began to gain ground. Currently, at national polls, Kamala Harris leads by three percentage points. 

This figure, however, matters relatively, as it does not consider the different values of the key or swing states with a higher number of seats, which we listed earlier. If we analyse the question with these preferences in mind, we see that Donald Trump and Kamala Harris are, essentially, on par. For example, in Pens, Harris has 48% of the preferences while Trump has 47%, and the same percentage in Georgia. Conversely, Trump is ahead in Arizona (48%) against 47% for Harris.

National polling averages give a good idea of the candidates’ general popularity but do not necessarily accurately reflect the possible outcome of the election. The outcome will depend on a handful of swing states, such as Pennsylvania, Michigan, and Wisconsin, which historically swing between the two parties.

Who is winning in the swing states?

The polls are very tight in the seven key states, including Pennsylvania, which is crucial for electoral victory. Pennsylvania, in particular, has the most electoral votes among the swing states, making it decisive.

Michigan and Wisconsin, once Democratic strongholds, passed to Trump in 2016, but Biden won them back in 2020. Except for North Carolina, Joe Biden had won favour in six of these seven states. If Harris can maintain these gains, he will be well on his way to winning the election. On the other hand, Trump will have to make up ground in these key states to secure the votes needed to reach the 270 large voters required for victory.

In other words, Kamala Harris and Donald Trump are unlikely to travel to Los Angeles (California) or New York, and if they do, the only purpose of their visits will be to collect money. They will most likely go to Phoenix (Arizona), Milwaukee (Wisconsin), or Atlanta (Georgia).

The role of funding 

One element that underlines the importance of swing states compared to those considered ‘normal’ is the amount of money the parties spend on promoting their programmes. In August, for television commercials in Pennsylvania, the two politicians spent about 40 million dollars each, in Georgia almost 20, and in Arizona more than 10.

Finally, we can briefly analyse the issues that will play a vital role in the US elections in November, mainly from an ideological and demographic perspective. For instance, Donald Trump had won a considerable slice of the African-American electorate, which may return to voting Dem after Kamala Harris takes the field. At the same time, however, many South American immigrants who are now citizens of Western states might prefer Trump’s approach to immigration because they have become, over time, strongly conservative on this issue.

Conclusion

The debate between Kamala Harris and Donald Trump gave American citizens a taste of the dynamics that will characterise this presidential race. Harris seems to have a slight lead in the polls, but the road to the White House is far from secure. In the coming days, the political landscape will continue to evolve, and voters in the swing states will have the final say on who will lead the country.

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Chinese economic crisis: the impact on countries linked to China

Has the Chinese economic crisis arrived? What will be the influence on countries that have linked their future to China?

After two decades of unprecedented economic growth and prosperity, China has shown signs of a slowdown, causing global concern. How did it get to this point? Was the Chinese economic miracle, which fuelled global growth for years, an illusion? The signs of trouble are many: the collapse of exports from countries like Venezuela, which had staked much of its economic future on Chinese loans in exchange for oil, and the failure of major Beijing-funded infrastructure projects, such as the China-Laos high-speed rail line, which proved unsustainable.

The slowdown in China’s demand for raw materials has thrown emerging and established economies into crisis, with devastating effects even on long-standing economic partners such as Germany. China’s progressively cutting back on foreign lending and imposing unfair competition on global markets have caused many economies to be in trouble, raising questions about the sustainability of the Chinese growth model.

The economic agreement between China and Venezuela

In the 2000s, Venezuela, led by President Hugo Chávez, put all its eggs in China‘s basket, as it was the ideal solution to Venezuela’s problems. How? By offering billions of dollars in investments and loans in exchange for a precious commodity: black gold oil. At first glance, Chavez’s gamble may seem a winner. During economic expansion, China was hungry for energy resources and used Venezuelan oil to fuel its growth while financing ambitious infrastructure projects in Venezuela.

However, during the past decade, the situation worsened, mainly due to the drop in demand for oil and thus its price. Venezuelan export revenues dropped dramatically, plunging an economy already plagued by bad governance and internal problems into crisis, which finally rolled over in 2014. We all know the consequences of this: food shortages, hospitals lacking medicines and crime rates bordering on the surreal. For these reasons, millions of Venezuelans have been forced to emigrate, and China has progressively reduced its funding to the country. In short, Venezuela’s bet on China has become an economic disaster.

This crisis is only one of the first alarm signals ignored by the international community. Dozens of other countries, which have tied their economic fate to Chinese growth, now find themselves in dire financial straits. This situation is mainly due to the slowdown of the Chinese economy.

The Chinese economic ‘miracle’: an illusion?

After the 2008 financial crisis, triggered by the collapse of the US housing market, China supported the global economy by injecting vast amounts of money into the economic system, stimulating domestic demand and investing. It has spent around USD 29 trillion in less than a decade, equivalent to one-third of the world’s Gross Domestic Product (GDP). The beneficial effects of this expansionary policy have been felt worldwide, so much so that the Chinese economy is thought to have contributed around 40% of global growth from 2008 to 2021.

For many developing countries, China was the best of allies. A century later than in the West, its economic boom suddenly opened up new markets for raw material exports, while the Chinese government offered generous loans for infrastructure projects through the Belt and Road Initiative (BRI). However, deep imbalances and structural problems were hidden behind this apparent economic miracle.

The Chinese boom, fuelled by inefficient investments and short-term stimulus policies, now appears unsustainable. The situation is even more difficult if one analyses the moves of President Xi Jinping, who has been in power since 2012, tightened state control over the economy and resisted significant economic reforms. The result? Economic growth is slowing dramatically, so much so that some experts believe it is now practically nil.

The global impact of the Chinese slowdown

The slowdown in Chinese growth is having significant repercussions globally, particularly in countries that have chosen China as their leading trading partner. Falling Chinese demand for raw materials has led to a slump in exports for many emerging economies. The situation worsens as the Chinese government continues to subsidise its own companies and flood global markets with cheap products, making it difficult for local producers in other parts of the world.

In particular, China’s foreign lending has dropped dramatically in recent years. In 2016, China lent around USD 90 billion abroad annually, but today, this figure has fallen to only USD 4 billion. This reduction in financing is putting pressure on many countries that depend on Chinese loans for their infrastructure projects. Many nations are faced with paying off huge debts without being able to count on new loans.

The crises in Zambia, Sri Lanka and Pakistan

To understand the extent of the problem, one only has to look at the situation in Zambia and Sri Lanka. Both have declared default because of billions of dollars in debt to China, which they cannot repay. Or Pakistan, where factories are closing and the energy system is struggling to function.

Even the most developed economies are not immune. Germany saw its exports to China fall by 9% in 2023, the most significant drop since China joined the World Trade Organisation in 2001. Other commodity-rich countries, such as Australia, Brazil, and Saudi Arabia, are seeing declining demand for energy and natural resources.

The shadow of the 1980s debt crisis

The current situation parallels the debt crisis that affected many developing countries in the 1980s. At that time, many nations, particularly in Latin America and Africa, were overwhelmed by huge debts contracted with Western commercial banks and international institutions such as the International Monetary Fund (IMF) and the World Bank. Faced with soaring interest rates and plummeting commodity prices, many countries, including Mexico, Brazil and Argentina, defaulted, triggering years of economic stagnation and political crises.

Today, China has taken over the role that used to be played by Western banks. Its growing economic influence has led many developing countries to take on huge debts to finance infrastructure and industrial projects. However, as the cases of Venezuela, Zambia and Sri Lanka show, the price of this dependence on China can be devastating.

An uncertain future

The Chinese economic crisis is not just about China but has global implications. Dozens of countries are at risk of default, and the global economic outlook is uncertain. The situation could worsen if China does not restructure its external debt and change its protectionist trade practices. Not least because China also has to deal with a severe real estate crisis, for example, the collapse of Evergrande, one of the world’s largest companies in this sector.

The international community faces a complex challenge: finding a balance between the need to involve China in resolving the crisis and protecting its economies from the consequences of the Chinese slowdown. Venezuela’s example shows how high the cost of a badly calibrated economic gamble can be.

The world needs a collective solution to deal with the consequences of the Chinese economic slowdown, but finding a global agreement will take work.

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The Federal Reserve’s upcoming interest rate decisions: what to expect

September Fed meeting will be crucial for the markets: here’s the outlook for investors.

The Federal Reserve is preparing to discuss interest rates again at the Federal Open Market Committee (FOMC) meeting on 17 and 18 September. Currently, federal funds rates are between 5.25% and 5.50% after a series of hikes to curb inflation. However, experts and markets expect a 25 basis point cut, bringing rates between 5.00% and 5.25%. But what factors are driving this expected decision?

Economic indicators influencing Fed decisions

Decisions on interest rates are always complex: the Federal Reserve has to consider several economic indicators to assess whether it is the right time to raise, lower or maintain rates. Some of the key indicators the Fed looks at include:

  • Inflation (CPI and Core CPI): Inflation is one of the main targets of the Fed’s monetary policy. When prices rise too fast, the Fed tends to raise rates to curb demand and stabilise prices. In August, the consumer price index (CPI) increased by 0.2%, with an annual rate expected at 2.6%, down from 2.9% in July. This drop in inflation brings the economy closer to the Fed’s targets, facilitating the possibility of a rate cut.
  • Labour market: Employment also plays an important role in the Fed’s decisions. There is less pressure to cut rates when the labour market is strong, with low unemployment levels. However, recent reports show a cooling of the labour market. The US added only 142,000 new jobs in August, a number below economists’ expectations, signalling a slowdown.
  • Economic growth: Gross Domestic Product (GDP) is another indicator. If the economy is growing too fast, there could be a risk of inflation, while weak growth could suggest the need for economic stimulus, such as rate cuts. Currently, US economic growth is slowing, making Fed intervention to avoid a recession more likely.

Who is affected by changes in interest rates?

The Fed’s interest rate decisions directly impact many sectors of the economy, and consumers, investors and businesses can feel the effects. Here are some examples:

  • Mortgages and loans: one of the first tangible effects of changes in interest rates concerns mortgages. If the Fed cuts rates, those with variable-rate mortgages might see a decrease in their monthly payments, while new home buyers might get loans with more favourable terms. However, many mortgage rates already reflect market expectations of a Fed rate cut, so a 25 basis point cut may make little difference in short-term mortgages.
  • Investment and financial markets: when the Fed cuts rates, financing costs for companies decrease, making it cheaper to invest and borrow. However, the stock market may react in a mixed way: while rate cuts stimulate some companies, other sectors, such as technology, maybe more cautious. Recently, the Nasdaq fell 2.6%, due to concerns about the economy and the slowdown of the artificial intelligence boom.
  • Savings: an essential aspect for savers concerns Certificates of Deposit (CDs), which offer favourable interest rates. CD yields could also fall if the Fed cuts rates, so the time could be right to lock in advantageous rates before they fall further.

The current economic environment and the upcoming rate cut

The overall picture shows declining inflation and a cooling but still strong labour market. With inflation approaching the 2% target, the Federal Reserve can cut rates without risking an uncontrolled inflation increase. At the same time, slower economic growth and concerns about a possible recession further push for an easing of monetary policy.

The long-term effects of interest rate cuts

Although interest rate cuts immediately affect mortgages, loans and financial markets, the long-term impacts may be more complex. When interest rates are lower, credit becomes more accessible, stimulating consumption and investment. This can boost economic growth in the short term, but if rates stay low for too long, there are some risks to consider:

  • Future inflation risk: if the Fed cuts rates too much or keeps them too low for a prolonged period, the economy could overheat, leading to a new inflation cycle. Even if inflation is under control today, a prolonged stimulus period could fuel renewed price growth, especially if the economy recovers quickly.
  • Debt growth: Low interest rates make debt cheaper for consumers and businesses, possibly encouraging higher debt levels. However, excessive debt may become unsustainable in future crises or a sudden rise in interest rates.
  • Impact on savers: In the long run, low rates penalise savers, who see diminishing returns on their low-risk investments, such as savings accounts and certificates of deposit. This can be a problem for pensioners or those living on savings income. Conversely, this becomes a more favourable scenario for risk-averse investors, prompting them to seek riskier investments for higher returns.
  • Higher bills for public debt: another long-term consequence of low rates is the potential increase in public debt. If the government goes into debt more easily to finance projects, it may accumulate debt that will be difficult to manage, especially if rates rise again.

It was a decisive moment for the economy and politics

The economic issue is one of the most vibrant among American voters, and the debate over the future of interest rates plays a crucial role in the political debate in the presidential election. As the November elections approach, the Federal Reserve’s choices will inevitably become one of the central points of confrontation between the candidates.

Tonight, Tuesday, 10 September, there will be a decisive debate between Donald Trump and Vice-President Kamala Harris, hosted by ABC News. This meeting, which represents the first ‘vis à vis’ between the two candidates, will be decisive in defining their positions on economic issues, one of the hottest topics of the election campaign. Voters will be particularly attentive to how the candidates intend to address the issue of economic growth, jobs and inflation, especially in a context where many Americans face higher debt costs and an uncertain job market.

Donald Trump, on the strength of a platform that has focused on tax cuts and deregulation in the past, might push for an aggressive rate cut to stimulate the economy further. On the other hand, Kamala Harris might emphasise the importance of prudent monetary policy management to avoid the economy’s overheating and uncontrolled debt growth.

Tonight’s debate will be crucial in understanding which economic view may prevail. The Fed’s decisions on interest rates are a key element in the future of US economic policy.

How should investors move in the context of a rate cut?

When the Federal Reserve cuts interest rates, investors must adopt different strategies to adapt to the new economic conditions. In general, lower interest rates mean that the cost of money falls, making it cheaper for companies to borrow and invest but reducing returns on safe investments such as savings accounts and certificates of deposit. Here are some strategies investors can consider:

  • Diversifying the portfolio: With falling interest rates, safe investments such as bonds and savings accounts tend to offer lower returns. This may push investors to seek higher returns in riskier assets such as stocks, cryptocurrencies, or mutual funds. In particular, sectors such as technology or renewable energy could benefit from a low-rate environment, as companies can more easily invest in growth projects.
  • Consider long-term investments: even if rates are low, there may be opportunities to lock in profitable returns over the long term. This can protect capital from yield erosion over time.
  • Evaluate stocks of companies that benefit from low rates: sectors such as real estate and utilities, which typically require large amounts of financing, may benefit from lower rates as the cost of debt decreases. Investors might consider buying shares in these sectors, which could have sustained growth in the new economic environment.
  • Monitor inflation: Although low rates stimulate the economy, investors should be alert to possible signs of future inflation. More conservative investments, such as bonds and fixed-rate government securities, could lose value if inflation picks up. Therefore, investors should keep an eye on future Fed policies to see if there will be a return to higher rates in the medium term.

In summary, a rate-cutting environment offers opportunities but also risks. Investors must be agile and ready to review their strategies, balancing risks and returns in a constantly changing economic landscape. To explore new opportunities, sign up for free on Young Platform.

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The 5 Most Popular Crypto Trading Strategies

Crypto Trading Strategies: The 5 Most Popular

Looking for the best crypto trading strategy to maximise your portfolio’s performance? Much like the recipe for Big Mac sauce, no one truly knows it. However, here are five of the top-performing strategies from the past!

There are countless unanswered questions in the world. What is the real name of street artist Banksy? What’s the recipe for Big Mac’s secret sauce? How much money did Pablo Escobar hide in the hills surrounding Medellin? How were the Egyptian pyramids built? But none compares to the one that haunts crypto trading strategy enthusiasts daily: What’s the perfect strategy? What does the ultimate, unbeatable portfolio look like? Which cryptocurrencies does it hold, and in what proportions?

Since it’s impossible to pinpoint a definitive answer, we’ve reviewed several popular crypto trading strategies to find the ones that have delivered the best returns with a manageable risk over time. Discover the top five strategies in this article! P.S. All these strategies outperformed the S&P 500, with at least double its percentage increase.

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1. Market Cap Weighted – Allocating by Market Capitalization

Why not start with its decentralised counterpart when looking for crypto trading strategies that have beaten the S&P 500? A “cap-weighted” portfolio is created by distributing your investment among the top 20 cryptocurrencies by market capitalisation, excluding stablecoins. This means the percentage invested in each currency corresponds to its market value. As of the time of writing, this strategy would see 56% invested in Bitcoin, 14% in Ethereum, 3.7% in BNB, 3% in Solana (SOL), and so on.

From January 2023 to August 2024, this crypto trading strategy saw a 144% increase, and during Bitcoin’s peak at $74,000 in March, it hit nearly 200%.

2. The Classic Combo: 80% Bitcoin, 20% Ethereum

This is the most popular crypto trading strategy, recommended by many long-time investors in the space. However, you should keep this one a secret from Bitcoin maximalists, as they believe BTC is the only legitimate cryptocurrency. Regardless, the 80% Bitcoin and 20% Ethereum duo have proven highly effective over the last 20 months, with a notable gain of over 190%.

3. Bitcoin Maximalist: All-In on the King

Bitcoin remains the most well-known cryptocurrency; for many, it’s the only one that truly matters. Over the past year, Bitcoin’s strong returns and relative stability compared to other cryptocurrencies have reinforced this belief. From January 2023 to August 2024, Bitcoin saw a price increase of 226%, and during the March peak, it surged to 350%.

4. Buy the Dip – “Catching a Falling Knife”

This strategy is the most complex in this article, but it’s worth discussing as it’s widely used by crypto trading strategy enthusiasts—sometimes without fully understanding its nuances. It requires an active approach to trading, unlike simpler “buy and hold” strategies. Success depends on timing and buying during market dips.

Suppose you started with a budget of $5,000 in BTC and $5,000 in stablecoins, intending to buy more BTC whenever its price dropped by more than 10%. If executed perfectly, this strategy could have turned that $10,000 into $48,000 by the end of the year.

However, this is easier said than done. Buying during market downturns is tough, both mentally and emotionally. It requires nerves of steel, patience, and a solid understanding of market trends. If you’re not experienced, a more straightforward recurring purchase strategy might be a better fit.

5. The Creative Combo: 60% Bitcoin, 20% Ethereum, 20% Solana

Finally, look at the most successful crypto trading strategy from the last few months. This portfolio comprises 60% Bitcoin, 20% Ethereum, and 20% Solana (SOL). While 20% may seem like a modest allocation, this portion has propelled this strategy to incredible heights. Since January 2023, this portfolio has seen an impressive 620% gain.

While we can’t definitively answer which strategy is the best for crypto trading, these five strategies have performed exceptionally well with a reasonable level of risk. More exotic portfolios may have delivered even higher returns, but these are often unsustainable in the long run. You can find most of the mentioned cryptocurrencies on platforms like Coinbase or Binance, so dive in and start your journey into crypto investing!

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Best Cryptocurrency to Buy Today: Top Picks for September 2024

Best Cryptocurrency to Buy Today: September 2024 Rankings

Discover the best cryptocurrencies to buy in September 2024. Stay updated with the latest trends and market shifts in the ever-evolving world of crypto.

Gli equilibri nel mondo delle criptovalute cambiano in maniera rapida e spesso imprevedibile. Per questo motivo è importante, soprattutto se stai scegliendo quale criptovaluta comprare oggi, conoscere gli ultimi sviluppi del mercato e le novità introdotte dai progetti “sulla cresta dell’onda”. Ogni mese, nuove tecnologie e cambiamenti regolamentari possono influenzare il valore, le gerarchie e la classifica delle crypto per capitalizzazione di mercato. 

Grazie a questa analisi mensile, puoi reperire informazioni su quale criptovaluta comprare attraverso una una classifica delle cinque più promettenti, da noi stilata basandoci sui dati più recenti e sugli eventi significativi che stanno plasmando il settore. 

As the cryptocurrency market evolves rapidly, staying informed about the latest developments is crucial, especially considering which cryptocurrency is the best to buy today. September 2024 brings new opportunities and challenges, making it essential to review the most promising cryptos to add to your portfolio. In this article, we’ll provide a monthly analysis that ranks the top five cryptocurrencies to buy based on recent data and significant events shaping the market.

1. Aave (AAVE)

Aave (AAVE) stands out as a leading contender when considering which cryptocurrency to buy today. As the foremost decentralised application for borrowing and lending crypto, Aave has maintained its dominance in the decentralised finance (DeFi) sector despite the rise of numerous competitors.

In late August, Aave set a new record for weekly active borrowers, underscoring its popularity among users. Financially, the project also impressed, with Q2 2024 earnings reaching approximately $20 million, nearly double that of the previous quarter. The Total Value Locked (TVL) on Aave’s platform, a critical metric in DeFi, recently hit $12 billion.

AAVE’s price has responded positively to increased activity on its platform, experiencing nine consecutive daily gains and a peak surge of +38%. Currently, AAVE is hovering around the $130 resistance level. If it breaks through this, the following targets could be $150 and eventually $240, fueled by the ongoing growth of its user base.

  • 30-day price increase: +40% (from $100 on 07/26/2024 to $140 today)
  • 1-year price increase: +87% (from $100 on 08/26/2023 to $187 today)

2. Sui (SUI)

Sui (SUI) is another intriguing option for those wondering which cryptocurrency to buy today. Created by former Meta developers, SUI has emerged as one of the top performers in the market over the past month, driven in part by the introduction of the Grayscale Sui Trust. This new financial product has bolstered SUI’s standing, potentially setting it up for continued success in September.

SUI experienced a massive +130% surge following the market crash on August 5th. Even more recently, SUI has shown significant growth, with a +100% increase and an additional +16% gain in the past week.

  • 30-day price increase: +26% (from $100 on 07/26/2024 to $126 today)
  • 1-year price increase: +53% (from $100 on 08/26/2023 to $153 today)

Buy SUI

3. Fantom (FTM)

Fantom (FTM) has gained attention recently, thanks to the announcement that Andre Cronje, a leading figure in DeFi, will return as Sonic Labs’ Chief Technology Officer (CTO). Cronje’s involvement in developing Sonic, particularly its native bridge technology, “Sonic Gateway,” could significantly enhance Fantom’s ecosystem.

Sonic’s L1 network, which uses asynchronous Byzantine Fault Tolerance (aBFT) consensus, promises near-instant transaction finality with a single confirmation. This development is likely to boost investor confidence in Fantom’s future growth.

  • 30-day price increase: +8% (from $100 on 07/26/2024 to $108 today)
  • 1-year price increase: +95% (from $100 on 08/26/2023 to $195 today)

4. Bittensor (TAO)

Bittensor (TAO) is closing out an exciting August, having benefited from Grayscale’s involvement. TAO is featured in two of Grayscale’s financial products, including a Trust dedicated entirely to this promising cryptocurrency. TAO has seen a dramatic rise from $200 to nearly $800 earlier in the year, although it later corrected back to its starting point.

Following the August 5th crash, TAO has regained momentum, doubling its value in three weeks. If it can surpass the $360 resistance level, TAO could see significant gains in September.

  1. 30-day price increase: +2% (from $100 on 07/26/2024 to $102 today)
  2. 1-year price increase: +296% (from $100 on 08/26/2023 to $296 today)

5. Ethereum (ETH)

Finally, Ethereum (ETH) rounds out our list of the best cryptocurrencies to buy in September 2024. Despite facing challenges and failing to break the $2,800 resistance level, Ethereum remains a strong contender due to its robust fundamentals.

Ethereum’s blockchain continues to operate smoothly, demonstrating unmatched security and efficiency. The network recently set a new record with over 34 million ETH staked, and the team has rolled out significant upgrades such as The Merge, Shanghai, Dencun, and Proto-Danksharding, ensuring Ethereum remains at the forefront of blockchain innovation.

  • 30-day price decrease: -14% (from $100 on 07/26/2024 to $86 today)
  • 1-year price increase: +44% (from $100 on 08/26/2023 to $144 today)

Conclusion

Choosing the best cryptocurrency to buy today requires a keen understanding of market dynamics and emerging trends. Aave, Sui, Fantom, Bittensor, and Ethereum each offer unique opportunities this September. However, remember that the crypto market is highly volatile, and thorough research is essential before making investment decisions.

Disclaimer

This information is provided solely for informational and educational purposes and does not constitute a recommendation to buy or sell any specific digital asset or investment strategy. Young Platform S.p.a. makes no warranties regarding the accuracy, suitability, or validity of the information provided or any particular asset. Prices are illustrative and may vary. The data may reflect assets traded on the Young Platform S.p.a. platform and other selected cryptocurrency exchange platforms. Please note that cryptocurrencies are highly volatile, and purchasing them involves a risk of loss.

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What is the Poorest Country in the World? Ranking of the Poorest Countries in 2024

The Poorest Countries in the World: Updated Ranking

Discover the ranking of the poorest countries in the world for 2024 based on GDP per capita. Explore the challenges and conditions these nations face.

One of the most common metrics used to examine the poorest countries in the world is GDP (Gross Domestic Product) per capita. This figure represents the average economic output per person in a given country and is a crucial indicator of financial health. 

A low GDP per capita often correlates with challenging living conditions characterised by fragile economies, high unemployment rates, and inadequate infrastructure. Moreover, these nations frequently grapple with internal conflicts and political instability, further hindering their development.

However, GDP per capita alone does not fully capture the economic well-being of a country’s citizens, as it overlooks disparities in the cost of living. GDP,  combined with issues such as low education levels, endemic diseases, and limited access to healthcare, these factors create environments where economic development is nearly impossible, leading to harsh living conditions. Below, we delve into the poorest countries in the world as of 2024 and the primary issues they face.

You might be interested in The Richest Countries in the World

The poorest countries in the world: 2024 ranking

Per stimare quali sono i paesi più poveri del mondo di solito ci si basa sui dati forniti dal Fondo Monetario Internazionale (FMI).

Nella maggior parte degli stati che trovi in questo articolo è molto difficile accedere ai servizi finanziari, anche a quelli standard come l’apertura di un conto bancario. Per questo motivo sono sempre di più i cittadini che si affidano a Bitcoin o ad altre criptovalute. Questa tecnologia coincide con un modo nuovo, e per molti l’unico, di gestire il proprio denaro e salutare per sempre lo status di unbanked. Se ti interessa questo tema e vuoi saperne di più puoi scaricare la nostra app.

The following ranking of the poorest countries is based on data from the International Monetary Fund (IMF). In many of these countries, access to essential financial services is minimal, with many citizens turning to cryptocurrencies like Bitcoin as a new way to manage their money, often as their only viable option.

This technology represents a new, and for many, the only way to manage their money and say goodbye to being unbanked. Suppose you’re interested in the opportunities cryptocurrencies offer as cross-border funds independent of governments or banks. In that case, you can buy, sell, and send cryptocurrencies on Young Platform, a leading European platform.

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1. Sudan del Sud

GDP per Capita: ~$450

South Sudan, the world’s poorest country, gained independence in 2011 but has been plagued by civil conflicts that have hindered economic and social development. Despite its vast oil reserves, South Sudan suffers from the “resource curse,” where wealth in natural resources leads to corruption, division, and conflict instead of prosperity.

2. Burundi

GDP per Capita: ~$900

Unlike South Sudan, Burundi lacks significant natural resources. The civil war that ended in 2005 left the country in dire straits, with most of its population dependent on subsistence agriculture. Less than 5% of the population has access to electricity, and inflation (an average of 14%, but it touched 30% in 2023) remains a significant issue, contributing to the erosion of living standards.

3. Central African Republic (CAR)

GDP per Capita: ~$500

The CAR is rich in natural resources like gold, oil, uranium, and diamonds, yet its people remain among the poorest globally. Since its first democratic election in 2016, the country has seen some growth, driven by timber, agriculture, and the diamond trade. However, much of the nation remains under the control of armed groups, hindering development. Growth in recent years has shown a moderate recovery, driven by the lumber industry, recovery in the agricultural sector, and partial recovery in the diamond trade.

4. Democratic Republic of Congo (DRC) 

GDP per Capita: ~$1,500

Since gaining independence from Belgium in 1960, the DRC has experienced political instability and violence. Despite its vast mineral wealth and potential to become one of Africa’s wealthiest countries, about 65% of the population lives on less than $2.15 a day. The country has a population of 100 million, with the average per capita income hovering around $1,500 annually. However, according to the World Bank, the DRC has the resources and potential to become one of Africa’s richest countries and a growth engine for the entire continent. It is currently the world’s largest producer of cobalt and the leading copper exporter in Africa, two essential elements for the electric vehicle market.

5. Mozambique

GDP per Capita: ~$1,200

While rich in resources and strategically located, Mozambique continues to face poverty due to political instability and adverse climatic conditions. Despite these challenges, the IMF projects strong economic growth driven by the energy sector. To make matters worse, the gas-rich northern part of the country has been hit by attacks by Islamic insurgent groups since 2017. Despite this, according to the IMF, the economy remains booming: it is projected to grow by 5% in 2024 and 2025, with prospects for double-digit growth in the second half of the 2020s.

6. Niger

GDP per Capita: ~$500

Niger is heavily threatened by desertification, with 80% of its territory covered by the Sahara Desert. The rapid population growth outpaces agricultural production, worsening food insecurity. Additionally, ongoing conflicts with Boko Haram exacerbate the nation’s instability.

In 2021, with the election of the new president Mohamed Bazoum, a former teacher and interior minister, Niger experienced its first democratic transition of power and seemed poised for significant change. However, in the summer of 2023, Bazoum was captured by some members of his presidential guard, and since then, a military junta has ruled the country.

7. Malawi

GDP per Capita: ~$600

Malawi is seventh on the list of the poorest countries in the world. Its economy, heavily dependent on agriculture, is vulnerable to climate change and food insecurity. The government faces a severe economic crisis marked by fuel shortages, rising food prices, and currency devaluation.

8. Liberia

GDP per Capita: ~$600

Liberia, Africa’s oldest republic, has been among the world’s poorest nations for years. However, Joseph Boakai’s election in 2023 offers some hope for economic recovery, with growth projected to reach 5.3% in 2024.

9. Madagascar

GDP per Capita: ~$450

Since gaining independence from France in 1960, Madagascar has experienced political instability, contested elections, and slow economic growth. Despite high poverty rates and an inflation rate of nearly 8%, the current government under Andry Rajoelina, reelected in 2023, continues to struggle with widespread poverty.

How limited mobility hinders economic growth in Africa’s poorest countries

Limited mobility has a profound impact on economic growth, particularly for African countries that already struggle with poverty. According to research by Prof. Mehari Taddele Maru, African nations top the list of Schengen visa rejections, with around 30% of African applicants being denied compared to just 10% worldwide. 

This stark disparity highlights how restricted access to international travel further marginalizes the poorest countries, making it harder for individuals to seek better opportunities, engage in global trade, or even gain exposure to new skills and ideas. 

The high rejection rates are particularly pronounced in the poorest African countries, creating a vicious cycle where limited mobility exacerbates economic stagnation. With the ability to move freely, these nations can overcome significant barriers to growth, as their citizens can participate in the global economy, seek education abroad, or build international business connections.

You might be interested in The Most Powerful Passport: 2024 Global Rankings.

Conclusion

The ranking of the poorest countries in the world highlights the severe economic challenges many nations face. However, despite these difficulties, there is potential for future growth in these countries, with natural and human resources that, if properly harnessed, could significantly improve living conditions. Stay tuned for more insights if you’re interested in learning more about these countries’ global economic challenges and development efforts.

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The Most Powerful Passport: 2024 Global Rankings

most powerful passport 2024

What does it mean to have the most powerful passport in the world?

In 2024, the title of “most powerful passport” is more than just a badge of honour—it’s a gateway to unparalleled freedom and opportunities. But what exactly makes a passport powerful? In this deep dive, we’ll explore the concept of passport power, the global rankings for 2024, and what it means for citizens who hold these prestigious documents.

What is a “powerful” passport?

Imagine travelling freely, crossing borders without hassle, and exploring new cultures without facing bureaucratic obstacles. This is the privilege of having the “most powerful passport in the world.” A powerful passport allows entry into many countries without a visa or with a visa on arrival, granting its holders tremendous freedom of movement.

Advantages and Privileges

Holding a powerful passport comes with several key benefits:

  • Freedom of movement: Travel to numerous countries without needing a visa.
  • Economic opportunities: Easier access to global markets and the ability to relocate for work.
  • Quality of life: The ability to choose from various destinations for living, studying, or working, enhancing overall quality of life.

How the ranking of the most powerful passports changes

The ranking of the most powerful passports in the world is constantly evolving. Changes can be driven by various factors, including:

  • Geopolitics: Tensions or agreements between countries can influence the number of visa-free destinations.
  • International Agreements: New treaties or partnerships can alter entry conditions for citizens of certain nations.
  • Global Crises: Events like the COVID-19 pandemic have significantly impacted global travel possibilities.

Measuring the most powerful passport in the world

Each year, several organisations publish rankings of the most powerful passports based on the freedom of travel they offer. Among the most influential is the Henley Passport Index, which evaluates passports based on the number of countries their holders can visit without a visa.

This ranking compares 199 passports against 227 possible destinations. A passport’s “score” depends on the number of visa-free countries it grants access to, with data from the International Air Transport Association (IATA).

The most powerful passports in the world: 2024 rankings

  1. The new number one: Singapore

In 2024, Singapore has claimed the top spot, surpassing other countries that usually compete for the number one position. Singaporean citizens can now travel to 195 countries visa-free, setting a new record. This achievement cements Singapore’s position as a global leader, thanks to its strong diplomatic relations and economic stability.

As we will explore further, the freedom of movement for individuals is closely linked to capital mobility and, consequently, to a country’s wealth. It is no surprise, then, that Singapore is one of the world’s most “crypto-friendly” countries. Singapore has been striving to establish a regulatory balance for cryptocurrencies and attract the industry within its borders for some time. If you’re interested in following the crypto market, you might want to consider using this:

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  1. Second Place: Europe and Japan

While Singapore has taken the lead, many European and Asian countries share second place, with visa-free access to 192 destinations. France, Germany, Italy, Japan, and Spain are among these countries, highlighting the importance of stability and diplomatic relations in securing travel freedom.

  1. Third Place: a European and Asia dominance

In third place, we find an unprecedented group of seven countries, each with access to 191 visa-free destinations. These include Austria, Finland, Ireland, Luxembourg, the Netherlands, South Korea, and Sweden, emphasising the continued dominance of Europe and Asia in the global passport rankings.

  1. United Kingdom and United States: former powers in decline

The United Kingdom clings to 4th place, sharing the rank with Belgium, Denmark, New Zealand, Norway, and Switzerland, scoring 190 destinations. Although slightly lower than previous years, it remains a significant position. The United States continues to slide in the rankings, landing in 8th place with access to 186 countries visa-free. Both the UK and the US, which held the top spot in 2014, have seen a decline in their passport power over the past decade, reflecting a gradual loss of political and diplomatic influence.

The world’s weakest passports

At the opposite end of the spectrum, Afghanistan remains at the bottom of the list, ranking 199th as the weakest passport in the world. Over the past six months, the Afghan passport has lost access to another destination, leaving its citizens visa-free entry to only 26 countries—the lowest score ever recorded in the index’s history.

The biggest climbers and fallers in the rankings

United Arab Emirates: A Remarkable Ascent

One of the biggest success stories in 2024 is the United Arab Emirates (UAE), which has entered the Top 10 for the first time. The UAE has added 152 destinations since 2006, achieving a score of 185. This leap from 62nd to 9th place results from a targeted government strategy to make the UAE a global hub for business, tourism, and investment.

China and Ukraine: rapid climbers

China and Ukraine have made significant strides in the rankings over the past decade. Since 2014, China has climbed 24 positions, from 83rd to 59th, and Ukraine has moved from 53rd to 30th. Both countries allow their citizens visa-free travel to 148 countries. This improvement reflects the political and economic changes in these countries.

The most significant loser: Venezuela

Venezuela has seen the most significant drop, falling 17 positions from 25th to 42nd place over the past decade. This decline is due to severe economic and political crises, which have forced over seven million Venezuelans to leave. Yemen, Nigeria, and Syria have also seen significant losses, dropping 15, 13, and 13 positions, respectively, due to conflicts and instability that limit their citizens’ mobility.

The Impact of Travel Freedom on Economic Prosperity

In 2024, freedom to travel has become a crucial indicator of economic prosperity. According to the Henley Global Mobility Report, the ability to travel visa-free or to relocate businesses to favourable cities has become a key factor in wealth and international legacy. Passport rankings also connect with the rankings of the world’s richest and poorest countries.

Fastest-growing cities for millionaires

Among the fastest-growing cities for millionaires, Shenzhen and Hangzhou in China have seen impressive growth, with 140% and 125% increases, respectively. Other rapidly growing cities include Bengaluru in India, Austin and Scottsdale in the United States, Ho Chi Minh City in Vietnam, and Sharjah in the UAE, demonstrating how global mobility and visa-free access have become essential tools for expanding wealth. Also, look at the ranking of the richest men in the world.

Conclusion

In 2024, holding the most powerful passport in the world is synonymous with freedom, opportunity, and prestige. It’s not just a travel document—it’s a symbol of global openness. As the ranking of the most powerful passports continues to evolve, reflecting global dynamics, one thing is certain: having a powerful passport means having the world at your fingertips.

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US inflation: the CPI figure

April and May 2024 FED meeting: forecasts, news and decisions

The Consumer Price Index (CPI), used to estimate inflation in the United States of America, has just come out.

The market’s fate depends on US inflation and, thus, on the Consumer Price Index (CPI) figure released today. For several months now, the question has been raised as to when the Federal Reserve (FED) will make its first interest rate cut, and, as its chairman Jerome Powell has repeated to the point of nausea, the decision depends mainly on US inflation. This has been orbiting around the 3% threshold for more than a year and has risen from 3.5% to 3.3% since March.

What does the latest CPI data tell us? On 31 July, the last Federal Market Open Committee (FOMC) meeting this summer, the first interest rate cut since 2020 will take place. 

US inflation at what to expect?

US inflation is now at, while ‘core’ inflation, stripped of the more volatile components represented by food and energy prices, is at. This is down from previous months but still far from the 2% target, a threshold considered healthy for the economy.

As we know, this figure is derived from the Consumer Price Index (CPI), an economic indicator used to measure the price development of goods and services purchased by consumers over time. The CPI is calculated by collecting data on the prices of a representative ‘basket’ of goods and services that consumers usually buy. This basket includes various products, such as food, clothing, housing, transport, education, health care and other common goods and services.

Jerome Powell said in a speech this Tuesday: ‘The FOMC only considers a reduction in the target range for rates to be appropriate once it has greater confidence that inflation is moving sustainably towards the 2% target. Who knows whether today’s US inflation figure justifies such a move?

Despite the above statement, which was far from optimistic, the chairman of the FED did, through another statement, give a slight boost to the markets, especially the traditional ones. He stated that: “in case the US cuts rates too late (or too little), it could adversely affect the economic situation.” 

In short, as is often the case, the scenario is rather intricate. On the one hand, the Fed might decide to start cutting interest rates, perhaps by 25 basis points, after the joyous news that came out today. On the other hand, the slowdown in inflation might not be sharp enough and, therefore, not justify a rate cut.

The impact of a rate cut

The FED’s decisions on interest rates directly affect people’s daily lives. Higher interest rates mean more expensive loans for house, car and business purchases but offer higher returns to savers who choose government bonds. Conversely, lower rates make loans more affordable but reduce returns on savings. For example, in 2023, 30-year mortgage rates reached an annual high of 7.79% before falling to 7.03% at the end of May 2024.

The FED’s decisions also influence the stock and cryptocurrency market volatility. In all likelihood, a more expansive or, as they say in the jargon, ‘dovish’ monetary policy stimulates the performance of these assets, which are considered riskier than bonds. The bull market of 2021, for example, began precisely when the major global economies, above all the US economy, decided to adopt economic policies that would stimulate growth to recover from the severe crisis caused by the COVID-19 pandemic. 

Enter the crypto world

We will see whether the latest US inflation figures released today will set the stage for a similar scenario in the months to come or whether, on the other hand, the situation is still delicate, and we will still have to wait several months to see the first interest rate cut.


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Differences between Mortgage Rates: Eurirs, Euribor, ECB and Inflation

The central reference rates for mortgages, Eurirs, Euribor, and ECB, differ. How do they vary with inflation, and how do they affect the cost of a mortgage?

The interest rate on your mortgage is one of the most important aspects to consider when deciding to borrow money. Understanding the differences between Eurirs, Euribor, and ECB rates can make a big difference in choosing the most suitable loan. 

Let’s examine in detail how these rates work, how they vary, and what influence inflation has on them.

Euribor: variable-rate mortgages

The Euribor, or Euro Interbank Offered Rate, is the average interest rate paid by banks in the Eurozone to lend money to each other. Or, in simple terms, it represents the cost of money in the Eurozone at a given time. The Euribor is calculated daily by the European banking federation through the weighted average of the interest rates of the most active banks in the Eurozone. This index varies daily and can have different reference durations, from one day up to 12 months. For example, the three-month Euribor rate was 3.7% on 10 July 2024. 

But what does this have to do with mortgages? The Euribor interest rate is the benchmark (or reference) used to calculate the interest rate of financial products such as personal loans, mortgages and variable-rate bank deposits. In other words, the instalments that those who have taken out a variable-rate mortgage have to pay vary directly to Euribor; if Euribor falls, they become cheaper. 

Eurirs: fixed-rate mortgages

On the other hand, the Eurirs (Euro Interest Rate Swap) is the reference rate for fixed-rate mortgages. Like the Euribor, it represents the cost at which banks and other European credit institutions borrow money from each other at a predetermined cost. The Eurirs is calculated daily by the European Banking Federation and varies depending on the loan duration. The longer the period, the higher the rate applied. For example, as of 10 July 2024, Eurirs rates for a 20-year mortgage were 3.6%.

ECB interest rates

Finally, we come to the ECB interest rates, the ones we hear about most often, especially from 2021 onwards, as they have been raised to fight inflation. These are decided monthly by the European Central Bank and represent the rate at which commercial banks can borrow money from it. To understand the difference between previous lending rates and ECB interest rates, the ECB interest rate can be interpreted as the ‘wholesale price’ of money for European banks. 

However, to understand how these vary, we cannot ignore inflation, an economic phenomenon that represents the general increase in prices over time and reduces the purchasing power of currencies. 

But why does inflation affect interest rates? The relationship between these two values is not direct. Interest rates do not automatically change in relation to inflation since they are decided by the ECB. However, the world’s central banks intervene when the cost of money reaches worrying levels, in most cases, by raising them.In conclusion, choosing the right mortgage requires understanding the different reference rates and their variations. Eurirs offers stability for fixed-rate mortgages, while Euribor represents variability for variable-rate mortgages. The ECB rate directly influences the short-term cost of money, and inflation plays a crucial role in the economy, affecting all interest rates.

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US elections: the impact on the price of Bitcoin

What impact will the US election have on the price of Bitcoin? According to Standard Chartered, they could cause the cryptocurrency to explode to the upside.

Many analysts believe Donald Trump’s victory in the upcoming US elections could favour Bitcoin and the cryptocurrency sector. Standard Chartered Bank, one of the UK’s most important financial companies, supports this thesis.

What is the basis for this belief’s recent spread? Should Donald Trump return to the White House, where could the price of Bitcoin go? Standard Chartered has updated its BTC price forecast to $150,000 by the end of 2024.

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US elections: Why could a Trump victory be good?

The first aspect to consider in estimating the impact of Donald Trump’s inauguration on Capitol Hill is the regulatory one. The tycoon has reiterated several times that he has no intention of repressing the use of Bitcoin and, therefore, would not oppose the cryptocurrency sector should he win the US elections. One of the last statements on the subject dates back to March when Trump said on CNBC’s microphones that he was aware of and accepted the phenomenon, even though he reiterated his total and unconditional support for the dollar.

Another theory that accompanies the belief of those who expect a bullish crypto market in the event of a Donald Trump victory is related to the incumbents at the head of key government institutions. Should Joe Biden’s term, and with it the current Democratic term, come to an end, some heads could ‘jump’. 

The industry’s eyes are mainly on Gary Gensler, the chairman of the Securities and Exchange Commission (SEC) and its biggest antagonist in recent years. Gensler has long been linked to the Democratic Party, and therefore, a rise to power of the Republican faction could put his chair at risk.

As proof of this, in a video recently made public on X (formerly Twitter), Trump states that ‘they’, referring to the Democrats and Gary Gensler, are hostile to cryptos and jokes that, according to him, Joe Biden doesn’t even know what they are. In short, cryptocurrencies could find fertile ground within the institutions should Trump win the US elections on 5 November 2024.

Will Trump inject liquidity into the markets?

It is indeed worth noting that Donald Trump has favoured highly expansive monetary policies characterized by near-zero interest rates and debt monetization. These policies could have a significant impact on the price of Bitcoin in the event of his re-election in the 2024 US elections. This term refers to the tendency of governments to use central banks as buyers for their debt. In other words, when this scenario occurs, the Federal Reserve (FED) would issue new money to buy US government bonds. This scenario is particularly attractive when the public debt of the country in question is particularly high and, above all, when there is a risk that the markets begin to doubt its sustainability.

But what impact would this forcing of the economy have on the cryptocurrency sector? The only way to estimate this is to analyse data from the last Trump term, when interest rates were close to zero, such as ‘confidence’ in the US treasury market or US government bonds. Suffice it to say that during the first term, the average annual net sale of US government debt reached USD 207 billion, compared to USD 55 billion during the Biden presidency. The crypto and stock markets boomed at that juncture as they provided a hedge against de-dollarisation. One of the side effects of this practice is, in fact, currency devaluation, which is generated by increasing the amount of money circulating in an economic system.

Bitcoin price predictions

Having clarified the economic and regulatory environment, it is time to address the possible influence of the US elections on the price of Bitcoin. Obviously, it is impossible to know what will happen should Donald Trump return to the White House, but this does not stop industry commentators from publishing their predictions.
Standard Chartered’s, already anticipated in the introduction of this article, had more media resonance. For the UK bank, the price of Bitcoin will reach $150,000 by the end of 2024 should Donald Trump become the US president for the second time in history. But that is not all! According to Geoff Kendrick, Head of Crypto Research at the financial company, the value of a single Bitcoin could touch $200,000 in 2025.