Figure 7: Government handouts have fueled speculative bubbles in cryptocurrencies and stock markets
Index numbers (January 2019 = 100)
Jan
2019
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
2020
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
2021
Feb
Mar
Apr
May
Jun
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
1,500
1,600
S&P 500 index
Bitcoin
S&P 500 index
Bitcoin
