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The Fate Of The Fantastic Four (Of Financial Engineering), Part Deux
Back in early-2018, I highlighted a quartet of stocks that had seen a surge in their prices that was far more significant than could be justified by their underlying business trends. That group was McDonald’s, Caterpillar, Boeing and 3M (MCBM). In the two years leading up to January of 2018, these stocks had dramatically outperformed not just the broad stock market but even the popular FANG stocks despite the fact that their underlying business trends were far less exciting. For this reason, I dubbed them “The Fantastic Four.”
Could the Gold Standard help the affordability crisis?
The removal of the Gold Standard has negatively impacted low-income earners. We must fix our market economy to fix our affordable housing crisis. The numbers are sobering. Forty-six million people live in poverty in the United States, an increase of over 38 percent in just under 15 years. This year’s affordable housing gap is over seven million units. The homeownership gap between Blacks and whites is 31%, more significant than in 1968 when housing discrimination was legal.
US wholesale inflation pressures eased sharply last month
U.S. wholesale prices fell in March, a sign that inflationary pressures in the economy are easing more than a year after the Federal Reserve began aggressively raising interest rates. Plunging energy prices pulled the government’s producer price index down 0.5% from February to March. Compared with a year ago, wholesale prices were up 2.7% in March — the mildest 12-month increase since January 2021. The producer price index can provide an early sign of how fast consumer inflation will rise. A huge drop in gasoline accounted for much of the sharp slowdown in producer prices. But even excluding volatile food and energy prices, so-called core wholesale inflation fell 0.1% in March.
Implications of Open Monetary and Information Networks
Recent decades have been characterized primarily by closed systems, both financially and online. The financial system as we know it has been a rather closed system for ages, consisting of various silos. Banks and brokerages operate permissioned ledgers. Opening accounts with institutions is a permissioned activity. Sending assets between institutions is a permissioned activity domestically, and especially globally. The base currency itself has a central issuer.
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