My mid-week morning train WFH reads:
• Short Seller Hindenburg Nabs Tiny Gains Off $173 Billion Carnage: Nate Anderson has wiped out as much as $99 billion from three billionaires’ wealth this year. (Bloomberg)
• Inflation and the cost of tighter monetary policy Data on the financial burden of US households. What would the costs have been if rates had not risen? Considering this rough “back of the envelope” calculation, one can argue that household costs of servicing new loans are double what they would have been without recent monetary policy tightening. (FRED Blog) see also Why I’m Not Worried About $1 Trillion in Credit Card Debt. But we have to look beyond the big scary number syndrome here and put this figure into context. Just because credit card debt can be ruinous for some households doesn’t mean it has to take down the U.S. economy. (A Wealth of Common Sense)
• Where Is Shelter Inflation Headed? Shelter inflation has remained high even as other components of inflation have fallen. However, various market indicators, including house prices and rents, suggest that the housing market has slowed significantly with the rise in interest rates. Forecasting models that combine several measures of local shelter and rent inflation can help explain how recent trends might affect the path of future shelter inflation. The models indicate that shelter inflation is likely to slow significantly over the next 18 months, consistent with the evolving effects of interest rate hikes on housing markets. (FRBSF)
• One of Europe’s Hottest Cities Rediscovers an Old Cooling Technique: The structure is a part of CartujaQanat, an architectural experiment in cooling solutions that doesn’t rely on burning more planet-warming fossil fuels. The site, about the size of two soccer fields, includes two auditoriums, green spaces, a promenade and a shaded area with benches. But its star performer remains hidden — the qanat, a network of underground pipes and tubes inspired by Persian-era canals. (Bloomberg)
• Would Life Be Better if You Worked Less? From part-time hours to four-day workweeks, Americans experiment with living more (Wall Street Journal)
• It’s no surprise Zoom wants workers back in the office: Big Tech has gone all-in on recalling remote workers. So who does it really benefit? (Quartz) see also An Office Is Not The Office: A recent announcement from Zoom gives hope to the pro-office crowd. But reading beyond the headlines shows we’re never going back to the old normal. (Dror Poleg)
• The Reddit Protest Is Finally Over. Reddit Won. Reddit corporate claims victory over its disgruntled mods as r/aww, r/pics, and r/videos abandon the “John Oliver rule.” (Gizmodo)
• Is it cheaper to refuel your EV battery or gas tank? We did the math: In all 50 states, it’s cheaper for the everyday American to fill up with electrons — and much cheaper in some regions such as the Pacific Northwest, with low electricity rates and high gas prices. (Washington Post)
• The Gradations of Assholery: A Jerks Week Explainer As The Ringer launches its bracket of the best jerks in pop culture, here is a thorough breakdown of the many different terms one can use to describe bad and annoying people—just so there’s no confusion. (The Ringer)
• Einstein and Oppenheimer’s Real Relationship Was Cordial and Complicated: Though Einstein didn’t help build the nuclear bomb and has just a few scenes in Oppenheimer, they pack a punch—and reflect the two physicists’ real-life dynamic. (Vanity Fair)
Be sure to check out our Masters in Business next week with Dan Harris, a journalist and 2 time Emmy award-winning television correspondent, including local news at ABC News, World News Tonight, Nightline, and Good Morning America. He covered the Iraq War, reporting from Baghdad, and was awarded the prestigious Edward R. Murrow Award for his reportage on Hurricane Katrina. He is also the author of the New York Times bestseller 10% Happier: How I Tamed the Voice in My Head, Reduced Stress Without Losing My Edge, and Found Self-Help That Actually Works–A True Story. He now hosts a podcast on Wondery, Ten Percent Happier with Dan Harris.
Lotteries are obviously a scam, but did you know the scam is getting worse?
Source: Why is this interesting?
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