My mid-week morning train WFH reads:
• The Fed May Finally Win the War on Inflation. But at What Cost? There is a good chance that the Fed will push the economy into recession. The pain is not evenly distributed. (New York Times)
• A big thing is happening in the US housing market – here’s where 27 leading research firms think it will take home prices in 2023. For the first time in more than a decade, residential real estate around the world has entered a period of declining home prices. (luck) see also Rents Are Higher Than Before the Pandemic — And Assistance Programs Are Drying Up: While rents for new rentals as measured by Zillow and other apartment listing sites finally began to fall nationwide at the end of 2022, the decline came only after a year of historic, nationwide rent increases throughout 2021. (FiveThirtyEight)
• The Pandemic Is Good for Retailers. What Happened Next? More bankruptcies are on the way, but probably not a return to the bad old days of the 2010s. (Bloomberg)
• Zillow CEO: Traditional offices are as old as typewriters. Employers must adapt. These changes are not about avoiding offices or not seeing each other in person; the office is just another purpose now. We are more intentional about how and when we meet in person. (USA Today)
• The Hottest Gen Z Gadget Is A 20-Year-Old Digital Camera: Young people are opting for point-and-shoot and blurry photos (New York Times)
• What three years of China’s covid travel restrictions cost the world: Students, scientists and businessmen are among those paying a price for China’s closed borders. (Grid)
• Greater Speed Is the New Frontier in Traffic Safety: The electric vehicle revolution also helped usher in a new golden age of automotive horsepower — and safety regulators weren’t ready for it. (Citylab)
• The key lesson to be learned from science’s biggest debate: In 1920, astronomers debated the nature of the Universe. The results were meaningless until years later, when the primary evidence came. (Great Mind)
• The ‘87,000 IRS agents’ is the zombie lie that sets the House agenda: We call these “zombie claims” because they keep rising from the dead no matter how often they are fact-checked. But we have never witnessed such a strongly criticized claim that sets the agenda for a new Congress. (Washington Post)
• Everything you didn’t know about The Shining: A new Taschen book documents the distinctive visual language of the Kubrick masterpiece, and reveals some delicious secrets from its making. (i.e.)
Be sure to check out our Masters in Business interview this weekend with John Mack, former CEO of Morgan Stanley. He was the architect of the company’s merger with Dean Witter and then returned as CEO to lead the company through the financial crisis. He is the author of a new autobiography, “Close to Everything: Life Lessons from a Wall Street Warrior.”
Economist Says His Yield Curve Inversion Indicator Was Wrong This Year
Source: Bloomberg
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