Making sense of the markets this week, October 24, 2021

As readers know, Canada was first to supply bitcoin ETFs, they usually proceed to be very talked-about with Canadian buyers. 

I proceed to make use of bitcoin funds within the portfolio. It’s simply one other portfolio asset, now above the 5% portfolio allocation degree. I’ll rebalance on schedule. 

On this house, we’ll be looking out for these actual bitcoin ETFs within the U.S. 

The 2 biggest financial scars from the pandemic. 

Considered one of my favorite economists is John Mauldin, who writes at Mauldin Economics. He just lately supplied a refreshing submit on provide chain points and a shocking financial occasion that appears to create a attainable main financial risk: The Nice Resignation, a phenomenon of the excessive numbers of individuals quitting their jobs proper now. 

Right here’s logistical sandpiles. 

What’s fascinating—however maybe is no surprise—is that our very refined international provide chain is getting extra fragile because it will get extra refined. It’s chip (semiconductor) wafer skinny and the pandemic uncovered its vulnerability. 

From that Mauldin submit … 

“At this time’s monetary system is advanced however our logistical methods are, too. The fashionable financial system that brings us so many fantastic items and providers is a breathtakingly difficult net of manufacturing, transportation, and storage capability… and most essential, the marvelously advanced division of labor amongst thousands and thousands of individuals around the globe. When all of it works, we (not less than within the developed international locations) have on-demand entry to luxuries unimaginable even a number of generations in the past, and we regard it as regular.