Post 324

• US booze companies see impact from tariffs.
  • First positive and then negative.
• Nike has not grown its sales for seven straight quarters.
  • And just experienced its largest sales decline so far.
• Cocoa bean prices are very volatile and near historic highs.
  • A look at the world’s largest chocolate manufacturer.
• Hershey sales are suffering.
  • As is its profitability as the high cocoa bean price bite.
• A look at how growth in household wealth is only partially a reflection of growth in capital being produced in the economy.
  • And how the vast majority of wealth is held by the top 10%
• In Financial Ructions:
  • We zero in on the equities and mutual funds part of household wealth.
    • And try to get a sense of how much real wealth has been created since 1989.
      • Spoiler alert, a lot less than the headline numbers.
• Book review: 
  • In our book review of The Way The World Works we look at two chapters: 
    • In chapter 4 he looks at capital and reminds us that the increased capital production during wartime does not contribute to a flourishing economy.
    • In chapter 5 he looks at what leads to greater productivity and how well-intended government actions can detract from the wealth of society.