Welcome to August! Turn it off as soon as you get back from work in the morning
the train WFH reads:
• Pandemic stimulus purchases we hate growth From pelotons to pets, covid makes people shop if they leave it on the shelves. (Vox)
• If the economy is shaky, why are the company’s profits still strong? Corporate optimism may seem at odds with the Fed’s grim determination to hold the economy to lower inflation, but earnings tell a story that other data don’t. (New York Times) see more Recession or not, the recovery is over The Fed has chalked up the slowdown to tackling inflation, a sign of how the pandemic has stripped back economic capacity. (Wall Street Journal)
• Was that down? Both the Russell 2000 index of small-cap stocks and the Nasdaq 100 were down about 32% and 33%, respectively, from their highs. That’s a pretty decent market. Since that day, the S&P 500 has gained 13%. The Russell 2000 rose 14% while the Nasdaq 100 gained 16%. (Common Knowledge Resources)
• The 100 richest Americans have lost $622 billion since November But they are still much wealthier than before the pandemic. (Business Week)
• Why do so many supercars have Montana license plates? A legal loophole allows owners of expensive cars to avoid taxes and emissions standards in other states. Tightening the rules could send the practice into overdrive. (Bloomberg)
• The elusive origin of zero: Who decided that nothing will happen? (Scientific American)
• Elon Musk’s animosity could turn owners and buyers against Tesla The lightning-rod CEO’s public persona — once a major asset — is a growing liability in the EV race. (Bloomberg) see more About Elon Musk? A tale of three acquisitions Without a certain level of trust, our modern civilization will soon collapse into total chaos. Like oxygen, many of us tend to take trust for granted until it’s in short supply. Trust is especially important in business. You may initially be given the benefit of the doubt, but abusing that trust can ruin your reputation and severely diminish future opportunities. (logical walk)
• Highway robbers of the knowledge economy A podcast I had never heard of before stole my work. I am not alone. (racket)
• As John Roberts, what we lose is being sidelined on the court Underlying any idea of compromise is the idea of humility. (slate)
• The Myth of Marilyn Monroe: How her ‘Sex Bomb’ image buried the truth Six decades later, scenes of Marilyn Monroe’s tumultuous life and death still grip us. With a major new biopic on the way, his biographer sorts fact from fiction. (parent)
Be sure to check out our Masters in Business interview this weekend with Hannah Elliott, who covers all things automotive for Bloomberg. We discuss today’s wild car market, motorcycles going electric, LA car culture, vehicles competing with Tesla and his favorite hypercars, and why you should take the $10,000 Ferrari track course.
If it’s a recession, we won’t know for months
Source: Wall Street Journal
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