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Best 2021 Read: Our resident expert when it comes to books related to money topics is Josh Manifold. Josh is an avid reader with varied interests. His favorite recent read is Americana: A 400-year History of American Capitalism by Bhu Srinivasan. The book takes an extended look at the spirit of innovation and ambition that has driven American history forward through inventions, techniques, from banking to flight, from the telegraph to the railroad. Josh has extra copies that he’d love to share. So if you’re interested, send us an email, and we will mail you a copy. Consider adding to your 2022 reading list!

Being Green vs. Inflation: A trend has developed over the past 30+ years related to cars and the economy. In the past, cheap oil encouraged car purchases, while manufacturers benefitted from energy-intensive production techniques. When oil prices quadrupled, the result was substantial inflation. We’re facing a similar situation with copper as the demand for copper increases with the increased production of electric vehicles. Experts question whether we’ll see the transition to greener economic changes create the same quick inflation threats. Needless to say, the topic of both near term, but even more so, long-term inflation is on our radar. If you’d like to read the entire article from Oxford Economics, please let us know.

Metaverse Land Purchase: In a seemingly strange turn of events, investors are purchasing patches of digital land to the tune of $2.43 million. The metaverse is the space online of interconnected, 3-D, experiential worlds and is accelerating as the new space where people can socialize, work, and shop, and, as in the real world, entities are scooping up land where such activities thrive and generate money. A digital real estate investment firm reportedly purchased 259 parcels—or 16 acres—of digital land for nearly $1 million in June. A virtual yacht sold for $650,000. Confusing? It is a bit of a head-scratcher to us too.

Government Shutdown Averted: Late Thursday night, Congress passed a short-term extension of government funding, averting a partial shutdown after resolving a standoff over vaccine rules. The spending plan extends through February 18. The legislation also includes $7 billion for assisting evacuees from Afghanistan.

RMD Fulfillment: A reminder to our clients who need to complete their required minimum distribution for 2021: please reach out to your client service team or advisor to give direction on how you’d like your RMD fulfilled. We are proactively working to connect with each of you as needed. As a friendly reminder, RMD’s need to be completed before year-end.