Welcome to a special autumn equinox edition of our morning reading:
• Forecasting the next recession: The Fed cannot ease pandemic-related supply constraints (without reducing demand), and the Fed cannot stop wars. So, there is a possibility that the Fed will tighten too much and it will lead to a “hard landing” (aka recession). (calculated risk)
• Why Trump’s alleged real-estate shenanigans went too far: There’s a lot you can get away with when valuing a property, but not that much. (slate) see more How bad is the New York AG case for the former president? The move marked the crime and created institutional and political pressure on the Southern District of New York and the IRS to take further action. This validates the next step. (grid)
• The trade mess is improved, but don’t get too comfortable: While the armada of container ships awaiting berths has shrunk, other problems lurk for cargo transport. (Chief Investment Officer)
• This should have been a great year for gold. Here’s why it doesn’t. The yellow metal is supposed to be a haven when stocks are a mess, but this year it’s down nearly 8%. (Wall Street Journal)
• The family that created a ballpark nachos monopoly: Whenever you order nachos at a sporting event, there’s a good chance it’s coming from a melted-cheese empire in San Antonio, Texas. (hostel)
• Does money make you happy? The latest research may surprise you There is evidence that money does, in fact, buy happiness. (US News)
• iPhones 14 Pro (and iPhones 14) The iPhone 14 Pro and Pro Max come with two very interesting innovations. There are no interesting innovations with the iPhone 14 or 14 Plus – which are actually quite interesting, strategically. (Brave Fireball)
• The ragtag army that won the Battle of Kiev and saved Ukraine: Citizen volunteers teamed up with soldiers to turn the tide in the most consequential European war since World War II. (Wall Street Journal)
• A surprising new theory about Saturn’s rings: The Story of the Long Lost Moon. (Atlantic)
• Alan Alda on ‘M*A*S*H’: ‘Something was taken from everybody’ As the acclaimed “tragedy of circumstances” turns 50, the star reflects on his inventions: “Crazy behavior wasn’t just fun. It was a way to separate yourself from evil for a moment.” (New York Times)
Be sure to check out our Masters in Business interview this weekend with America Online (AOL) co-founder Steve Case, founder of the Investment Firm Revolution, author of Four of the Smithsonian and The Rise of the Rest: How Entrepreneurs Are the New American in Amazing Places Dreams are made.
Which media platforms are most popular across ages?
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