HotAir hotair.com 16 Jul, 2021 23:45 am

The pandemic-fueled decline of cash – HotAir

The pandemic-fueled decline of cash – HotAir

That along with a trend toward digital transactions in the smaller-dollar realm — the last stronghold of the legal cash economy — implies the cash in circulation is largely being used for under-the-table or illicit activities.In: Moon wobble 4 Texas Speaker of the House strips Democrat of top leadership position 5 Frank Luntz: It's time for Biden to publicly call on Trump to join him in the vaccination effort 6 Leaving Trump behind 7 Jen Psaki: If you're banned by one social media platform for disinformation, you should be banned by othersWhat's happening: More consumers are going digital for obvious reasons — the convenience, the safety of not carrying around wads of cash, and after COVID, because of sanitary concerns, says Jody Jonsson, portfolio manager at Capital Group.1 Israeli prime minister: Pfizer isn't as strong against the Delta variant as we'd hoped 2 Federal judge says DACA was 'illegally implemented' but he won't shut it down for those already enrolled 3 Out: Climate change.

And while the entirety of cash payments is impossible to track, we can see that digital payments have grown faster than overall consumption over the past decade, Kenneth Rogoff, professor of economics at Harvard, tells Axios.This could strengthen the rationale for governments to develop their own digital currencies, which would be trackable and taxable.

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