My Two-for-Tuesday morning train WFH reads:
• During Covid-19, Most Americans Got Richer—Especially the Rich U.S. households gained $13.5 trillion in wealth in 2020. That isn’t how recessions usually work. (Wall Street Journal) see also Social class in America America is a class-stratified society. Class looms so large over our society that we don’t even see it, like a roof that’s so big we think it’s the sky. Only once we finally step outside do we look back at the towering edifice do we see it, (Noahpinion)
• 16 Unbelievable Facts About the Markets The 25 years ending March 2020 saw long-term bonds beat the U.S. stock market. From the spring of 1996 through March 2020, long-term government bonds returned 8.2% annually versus a return of 8.0% per year for the S&P 500. And they did so with one-third less volatility. (A Wealth of Common Sense)
• The Miami condo collapse is a devastating reminder of America’s artificial land problem Big chunks of American cities are built on man-made land that is a climate catastrophe waiting to happen (The Week) see also The Miami Building Collapse Is a Warning: Waiting to trace the exact lines of causation misses the point. (Slate)
• The Psychological Benefits of Commuting to Work Many people who have been working from home are experiencing a void they can’t quite name. (The Atlantic)
• Shifting Balance of Power? I suspect it is something broader, more than merely the economic recovery being impacted by Covid. Maybe more of a significant change, perhaps even a secular reversal of the longstanding power dynamic between capital and labor. (The Big Picture) see also Workers Are Gaining Leverage Over Employers Right Before Our Eyes “Employers are becoming much more cognizant that yes, it’s about money, but also about quality of life.” (New York Times)
• Little Stories: Andrew Carnegie was asked for money advice and said: “Even a fool can make a million dollars. But it takes a sage to keep it. Do you hear me?” He knew from experience. (Collaborative Fund)
• Millions Choose Simple Privacy Protection with DuckDuckGo Growth over the last 12 months: 50M+ app downloads, 55% search traffic increase, #2 search engine on mobile in the U.S., Canada, Australia, the Netherlands & more. (Spread Privacy) see also Google’s Antitrust Cases: A Guide for the Perplexed The company is facing multiple lawsuits from the Department of Justice and three dozen states. Here’s what you need to know. (Wired)
• By supporting seditionist lawmakers, Toyota shows disdain for the public interest The company ranks first as the post-Jan. 6 financial supporter of members of Congress who voted that day against certifying the 2020 presidential election results. Since then, Toyota has made political contributions to 37 of the 147 senators and representatives whose vote placed them in lock step with the conspiracy theory promoted by former President Trump that the election was stolen from him. The conspiracy claim fueled the insurrection at the U.S. Capitol. (Los Angeles Times)
• The Last–And Only–Foreign Scientist in the Wuhan Lab Speaks Out Virologist Danielle Anderson paints a very different picture of the Wuhan Institute. (Bloomberg) see also Where Did the Coronavirus Come From? What We Already Know Is Troubling. Scientists sometimes worked with bats, bat samples and bat viruses under conditions that have since raised eyebrows (New York Times)
• The Soft Radicalism of Erotic Fiction: Jackie Collins sold half a billion books, taught women to demand power, and told the truth about Hollywood, yet she’s never gotten her due. (The Atlantic)
Be sure to check out our Masters in Business interview this weekend with Joe Moglia, who is the former chairman and CEO of TD Ameritrade (now part of Schwab), as well as former Head Coach of the football team at Coastal Carolina University.
Renting Is Cheaper Than Buying, Almost Everywhere
Source: New York Times
