El-Erian also warns about inflation traps and liquidity traps. Rising inflation, or the rise in general price levels, has an increasing number of investors and small business owners worried , with 17% of the 10,000 small businesses surveyed listing inflation as their highest concern, and the market experiencing volatility on the way to its new highs as it fights off fears the Fed will let the economy run too hot, sparking runaway inflation. Those inflations fears have, for now, proven manageable. And a strong economy is a result of informed market participants, according to the CEO and president of the Nasdaq, Adena Friedman. "Leveraging the financial education that is available is a big part of what makes our (U.S.) economy so strong," said Friedman. Retail investors have flooded into the markets over the past year and being able to understand the mechanics of the markets is an important factor in their success. Financial literacy also gives people the confidence to open small businesses, according to Friedman. Sol Trujillo's love of baseball led to love of math, a subject he considers the cornerstone of financial literacy. The co-founder of the Latino Donor Collaborative taught himself statistics to keep up with his favorite players and teams. Baseball is a statistician's dream. Every action on the field is documented to create reams of data that can give a clear picture of the performance of a team or even a player. "I used to keep track of all the players and their batting averages and their RBIs, all kinds of statistics because I did the math ... I learned how to do things and process things quicker in my mind." In many communities, small businesses offer more than a paycheck, they offer a pathway to success. Maria Contreras-Sweet, the Small Business Administration's former leader, believes that in order for entrepreneurs to be successful they have to be financially literate. "You can have a good idea. But when you have financial empowerment you know how to execute, you know how to access capital and you can scale," said Contreras-Sweet. Contreras-Sweet emigrated from Mexico with her family when she was just five years old. She credits her financial education with her ability to open California's first Hispanic-founded commercial bank in more than 35 years. "I learned about how to save money, how to invest it and to use it well," she said. The most famous physicist in history, Albert Einstein, once said that the most powerful force in the universe is compound interest.https://www.cnbc.com/2021/04/08/5-financial-literacy-lessons-that-lead-to-better-investing-.html
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A painted artifact found at the site. (Image credit: Egyptian Ministry of Tourism and Antiquities) Archaeologists found the cartouche of Amenhotep III on various goods. (Image credit: Egyptian Ministry of Tourism and Antiquities) Archaeologists have found all kinds of treasures at the ancient city. (Image credit: Egyptian Ministry of Tourism and Antiquities) After seven months of excavation, the archaeologists had uncovered several neighborhoods. In the southern part of the city, the team also discovered the remains of a bakery that had a food preparation and cooking area filled with ovens and ceramic storage containers. The kitchen is large, so it likely catered to a large clientele, according to the statement. In another, still partially covered area of the excavation, archaeologists found an administrative and residential district that had larger, neatly-arranged units. A zigzag fence — an architectural design used toward the end of the 18th Dynasty — walled off the area, allowing only one access point that led to the residential areas and internal corridors. This single entrance likely served as a security measure, giving ancient Egyptians control over who entered and left this area, according to the statement. Related: Peaceful funerary garden honored Egypt's dead (photos) In another area, archaeologists found a production area for mud bricks, which were used to build temples and annexes. These bricks, the team noted, had seals with the cartouche of King Amenhotep III. The team also found dozens of casting molds that were used to make amulets and decorative items — evidence that the city had a bustling production line that made decorations for temples and tombs. Throughout the city, the archaeologists found tools related to industrial work, including spinning and weaving. They also unearthed metal and glass-making slag, but they haven't yet found the workshop that made these materials. The archaeologists also found several burials: two unusual burials of a cow or bull, and a remarkable burial of a person whose arms were outstretched to the side and had a rope wrapped around the knees. The researchers are still analyzing these burials, and hope to determine the circumstances and meaning behind them. It's unclear why the remains of a cow or bull were buried in the Lost Golden City. (Image credit: Egyptian Ministry of Tourism and Antiquities) More recently, the team found a vessel holding about 22 pounds (10 kilograms) of dried or boiled meat. This vessel is inscribed with an inscription that reads: Year 37, dressed meat for the third Heb Sed festival from the slaughterhouse of the stockyard of Kha made by the butcher luwy.https://www.livescience.com/lost-golden-city-ancient-egypt.html