![]() ![]() The Merge (The merging of the execution layer and the Beacon Chain.).Ethereum co-founder Vitalik Buterin unveiled the next steps in the roadmap for the network at the annual Ethereum Community Conference (EthCC) in Paris on July 21 and has 5 key phases: And Merge is only a part of the full roadmap for Ethereum network. PoW uses miners and the energy intensive mining whereas PoS uses validators and reduces the energy consumption by as much as 99.95%. Wait, what was this Merge all about?Įthereum blockchain was operating as a Proof-of-Work (PoW) blockchain and the merge is about its transition from PoW to Proof-of-Stake (PoS). She is also a regular contributor to Seeking Alpha, FEDweek, and Elliot Wave Trader.There were several virtual parties and some met even in-person to celebrate the Merge. She has also appeared on Real Vision, The Investor’s Podcast Network, The Rebel Capitalist Show, The Market Huddle, and many other podcasts. Her work has been editorially featured or cited on Business Insider, Marketwatch, Time’s Money Magazine, The Daily Telegraph, The Philadelphia Inquirer, The Street, CNBC, US News and World Report, Kiplinger, and The Huffington Post. She has been performing investment research for over fifteen years in various public and private capacities. She oversees the finances and day-to-day operations of an engineering facility. ![]() Lyn has a bachelor’s degree in electrical engineering and a master’s degree in engineering management, focusing on engineering economics and financial modeling. Whether you’re new to investing or experienced, there’s a lot there for you. She says, “Her background lies at the intersection of engineering and finance.” Her site provides investment research and strategy, covering stocks, precious metals, international equities, and alternative investments, with a specialization in asset allocation. Lyn Alden is editor and publisher of, where she has both a subscription and a free financial newsletter. Are we heading into a dollar bear market?.Commodities, inflation, and global growth.CPI Metrics and the Fed’s targeting of two percent.Labor markets, stimulus and unemployment benefits.There are some concerns at the moment regarding their housing markets. In general, commodity bull markets are good for resource countries like Canada and Australia. The dollar can have a detrimental effect on other currencies, with Turkey and Lebanon being recent examples. The global demand for dollars is tied to oil, and there is a regular cycle based on fiscal policy. We’ve been in a free-floating currency rate system since the 1970s, and we may be entering another dollar bear market. Gold can be a hedge against negative real yields, and the timing for the next gold move will track real rates. We just had the largest year-on-year growth of the money supply since World War II. She discusses the impacts of growing base money and stimulus. The question will be how difficult it will be to reduce it. The Fed plans to overshoot its 2% inflation target for a period of a few months. CPI metrics are relatively inaccurate due to quality adjustments and lack of important factors like housing, healthcare, and food. Some commodities may stay at new levels and might not fall much overall. ![]() Several factors could affect the CPI, including increased commodity demand globally. Lyn explains how year-on-year data can be misleading and why in Q3, the statistics will appear to worsen. We offshored a lot of our manufacturing, and there are several feedback loops driving equity valuations higher as a result. We’ve been in a secular bull market since the 1980s and have built a significant trade imbalance. It will be important to watch the planned infrastructure spending because that will impact some sectors of the economy. The various stimulus programs and changes in people’s behavior have caused supply shocks in lumber and electronics. This should change as these benefits run out. ![]() Many of the additional unemployment benefits have been problematic for getting back lower-paid workers. Unemployment is understated because some have stopped looking for work. However, it’s going to take a while to come back to previous levels. Lyn discusses the labor market and how it snapped back somewhat last year. Tom welcomes Lyn Alden, Financial Newsletter Editor & Publisher, back to the show. ![]()
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