Over the Christmas and New Year break, we’re looking back at some of the most important letters we sent to you in 2021. And today’s examples come from 9 and 12 April. They introduced you to an idea known as the Crack-up Boom: a time when the economy looks to be booming by the measures economists and politicians like to quote, but while the reality on the street says otherwise.

So, if you feel there’s something fishy going on in our supposedly healthy economy, perhaps these might explain why:

Are you the next Hugo Stinnes?

Stratospheric asset prices are not a good thing

Nick Hubble
Editor, Fortune & Freedom