train WFH reads:
• Economic Side Effects From the Pandemic Following the Great Financial Crisis, economic growth was below trend, inflation was low and wage growth was slow. Since the pandemic, economic growth is higher, inflation is finally taking off and wage growth is accelerating. Each scenario has its own unique challenges and trade-offs. (A Wealth of Common Sense)
• The Workers Won’t Be Coming Back, Covid or Not. Here Are Theories on Where They Went. What is wrong with America’s labor market? Americans are quitting their jobs at a record pace while millions who left the workforce during the pandemic have yet to return. Many economists say Covid is the culprit, but there may be more going on than meets the eye. (Barron’s) see also The 40-Hour Work Week Is, in Fact, Life There is no magical way to earn a full-time salary without working full-time. (New York Times)
• Deal Breaker: Private-Equity Firm Bans the Word ‘Deal’ At Partners Group Holding, using the word can cost $1,000 for each violation; ‘Please don’t roll your eyes if I bust you’ (Wall Street Journal)
• Paying the Covid Bill The death and disruption were bound to create real economic losses, even if things are better now than what one might have feared in the spring of 2020. Modest inflation is the least worst outcome. (The Overshoot)
• Where the Suburbs End A single-family home from the 1950s is now a rental complex and a vision of California’s future. (New York Times)
• This is the true scale of China’s bitcoin exodus The total percentage of bitcoin mining taking place in China has dropped to almost zero following a recent crackdown (Wired)
• Climate change: Fossil fuel production set to soar over next decade Despite the flurry of net zero emission goals and the increased pledges of many countries, some of the biggest oil, gas and coal producers have not set out plans for the rapid reductions in fossil fuels that scientists say are necessary to limit temperatures in coming years. (BBC)
• How Donald Trump, Elon Musk, and Gwyneth Paltrow Short-Circuit Your Ability to Think Rationally The sketchy rhetorical tricks of politicians, celebs, and con men—and how they work. (Businessweek)
• Age is still a huge coronavirus risk factor, even among vaccinated Americans Even vaccinated Americans who are 80 or older are at higher risk of dying from the coronavirus than anyone — vaccinated or not — under the age of 50, according to CDC data. (Axios)
• Dune Is the Sci-Fi Epic Commodities Traders Have Always Wanted Director Denis Villeneuve’s new science fiction film Dune, out on Oct. 22 in the U.S., takes inspiration from an unlikely, unsexy corner of capitalism: commodities trading. By spinning a complex tale about family, revenge, and destiny, it has the drag-on effect of making markets compelling and approachable to a slightly wider audience than usual. (Bloomberg)
Be sure to check out our Masters in Business interview this weekend with Sukhinder Singh Cassidy author of “Choose Possibility” hailed as one of the Top 100 People in the Valley by Business Insider and a Power Woman by Elle. She has 25 years of experience founding, scaling, and running companies: She was an early hire at Junglee (acquired by Amazon), helped to build Google Maps and Local before developing Google International, was CEO of StubHub, and a co-founder of the firms Yodlee and Joyus.
Inflation-Adjusted S&P 500. The current cycle is similar to 1921-23.