the train WFH reads:
• The messy true story of beating inflation last time: The usual narrative about the “Volcker shock” leaves much to be desired — and policymakers risk learning the wrong lesson. (Vox)
• Gotta be a good way to lose $800 billion: You know what’s cool? A trillion dollars. That was Facebook’s market capitalization just over a year ago, just before the company decided to change its Meta name. It has since fallen by about $800 billion. Wise failure in business is based on small bets. Bet the meta company. (Wall Street Journal) But see also way to think about a metaverse: Your boss wants a metaverse strategy, but what would it be and what does metaverse mean? If we remove the noise, what can we say about it and what can we predict? (Benedict Evans)
• How do investors feel about ESG initiatives? A study found that investor attitudes vary widely by age, wealth and specific ESG issues. (Wall Street Journal)
• Are mortgage rates too high? (Blame the Fed, Wall Street and Your Neighbors) Lenders use various bits of data to set mortgage rates, including trading moves by investors. Without market volatility, the rate could be below 7 percent. (New York Times)
• Can the Fed fight inflation? Concerns about interest rates as well as the stability of the financial system are growing after the recent turmoil in Britain. (Washington Post)
• The Trouble with Twitter: A Roundup. Some Unsolicited Thoughts for New Owners (Nohopinion)
• A wave of foreign abortion pills has blunted the effects of state abortion bans: New data shows that abortions in the U.S. have fallen by about 2 percent since the end of Roe, accounting for those who traveled across state lines or ordered the pill online. (New York Times)
• The loudest voices on the right have abdicated the burden of responsibility: In the Republican establishment in 2015, when Trump announced, there was still a long-standing belief that elected officials should not simply misrepresent the facts or conspiracy theories. That belief eroded in the post-Tea Party era, of course, but it lingered. Until Trump showed that abandoning it altogether offered a different reward. (Washington Post)
• It’s not just politicians: American workers are facing sharp spikes in threats and violence: Harassment is worse for everyone from airport screeners to librarians to nurses: “This is my Tuesday death threat.” (grid)
• 9 Facts About Guitarist Pat Metheny As A Young Man: You don’t need to be a future guitar hero to learn from his example. (honest broker)
Be sure to check out our Masters in Business interview this weekend with financial historian Edward Chancellor. He is currently a columnist for Reuters BreakingView and an occasional contributor to The Wall Street Journal and Moneyweek. In 2008, he received the George Polk Award for Financial Reporting. Chancellor’s Author”The Devil Takes the Hindmost: A History of Financial Speculation“His New Book”The Value of Time: Real Stories of Interest” nominated for the FT’s 2022 Business Book of the Year.
Home prices are falling rapidly in the western Rockies
Source: Full Stack Economics
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