My end-of-week morning train WFH reads:
• The 8 economists who decide if the U.S. is in a recession: Even if gross domestic product figures show a shrinking economy, a recession won’t officially have begun unless the National Bureau of Economic Research says so. (Washington Post)
• Why doesn’t the Fed just hike 200bp all at once? The cases for and against bold, abrupt moves (Noahpinion)
• Despite Headwinds, Institutions See Opportunities Private market returns have come down off the highs, but institutional investors are keeping the faith. (Chief Investment Officer)
• What if the suburbs were just a first draft? Remote work, the arrival of home-owning millennials, and other forces can be an opportunity to remake them for the better. (Vox)
• GDP Report May Have Showed a Decline, but It’s Not a Recession: While there’s a risk of recession for 2023, any decline should be mild and short-lived (Morningstar) see also What causes a recession? The economic domino effect has begun, but there is still time to stop it (Washington Post)
• Want to lay off workers more smoothly? There’s a startup for that: There’s one startup that is thriving in the market turmoil. And it’s sort of the perfect metaphor for the current state of tech. The company is called Continuum, and it’s cashing in at layoffpalooza. (NPR)
• Why are cars so expensive now? A look at the reasons behind the skyrocketing prices and ballooning auto loans. Grid found a net increase of nearly $13,000 in the cost of a new vehicle. Where does that extra cost come from? (Grid)
• At Yosemite, a Preservation Plan That Calls for Chain Saws With treasured forests perennially threatened by fierce wildfires, many experts say it’s time to cut and burn protectively. A lawsuit is standing in the way. (New York Times)
• Actually, the Russian Economy Is Imploding: Nine myths about the effects of sanctions and business retreats, debunked. (Foreign Policy)
• How I Became the Fake Tom Cruise: Miles Fisher had it all: talent, charm and the face of a movie star. Problem was, it was a very specific movie star. After years of resenting the resemblance, Fisher embraced it through viral TikTok deepfakes that demonstrate AI’s astonishing power to deceive. (Hollywood Reporter)
Be sure to check out our Masters in Business interview next weekend with Hannah Elliott, who covers all things automotive for Bloomberg. We discuss today’s wild car market, Motorcycles going electric, LA car culture, vehicles competing with Tesla, and all of her favorite hypercars, and why you should do the $10,000 Ferrari track course.
Real Estate vs. Stocks vs. Bonds vs. Inflation
Source: A Wealth of Common Sense
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