My Atonement Day morning reads:
• How the U.S. Nailed the Economic Response to Covid-19 America’s fiscal policy succeeded in pushing poverty in the opposite direction that usually occurs in recessions (Wall Street Journal)
• Soaring Rents Make It a Very Good Time to Own an Apartment Building The 10% rise in national asking rents in August is highest on record, helped by more young workers returning to cities (Wall Street Journal) see also You Can’t Stop Evictions If You Don’t Pay People’s Rent The rollout of emergency rental assistance serves as a reminder that policy design needs to be responsive to the needs of those it is meant to serve—in this case both tenants and landlords (Slate)
• I don’t think people appreciate the extent to which Amazon puts a wage floor in a community. It’s the first thing employers think about when a new Amazon facility arrives in town. (The Bellows)
• The Megadrought Is Forcing Ranchers to Slaughter Far More Animals Analysts believe that the problem doesn’t stem from the farms or the livestock, but rather the onerous ripples of the heat: “The heat and lack of moisture/rainfall leads to a lack of feed and water, which can make it hard to keep the cattle healthy. … Cattle ranchers have been hauling water to areas where natural water sources have been dried up and have been feeding hay to make up for a lack of forage. … Without that water, heat exposure and exhaustion would cause a lot of harm to the cattle.” (Slate)
• ‘Just Get Me a Box’: Inside the Brutal Realities of Supply Chain Hell Logistics managers are battling the pandemic, a labor shortage, and huge demand to get goods to your front door. (Businessweek)
• Facebook Tried to Make Its Platform a Healthier Place. It Got Angrier Instead. Internal memos show how a big 2018 change rewarded outrage and that CEO Mark Zuckerberg resisted proposed fixes. Part 3 of a new WSJ series (Wall Street Journal)
• One Woman’s Mission to Rewrite (Correct?) Nazi History on Wikipedia Ksenia Coffman’s fellow editors have called her a vandal and a McCarthyist. She just wants them to stop glorifying fascists—and start citing better sources. (Wired)
• What the Never Trumpers Want Now: The former cultural core of the GOP is exiting the party. The Democrats should keep those voters in their corner. Here’s how to do it. (The Atlantic)
• Planet 9 may be closer and easier to find than thought—if it exists A new study’s “treasure map” suggests that a planet several times more massive than Earth could be hiding in our solar system, camouflaged by the bright strip of stars that make up the Milky Way. (National Geographic)
• John McEnroe on His Temper, His Teenage Angst, and His Voiceover Work on Never Have I Ever Taking a break from his U.S. Open commentary, the tennis legend discusses his unexpected role on Mindy Kaling’s hit show. (GQ)
Be sure to check out our Masters in Business interview this weekend with Campbell R. Harvey, professor of finance at Duke University’s Fuqua School of Business. He is a partner and senior advisor at Research Affiliates. He is best known for his work on Yield Curve Inversion & Recessions. His most recent publication is a new book on crypto and blockchain: “DeFi and the Future of Finance.”
Inflation Is Cooling Off
Source: Slate
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