My end-of-week morning train WFH reads:
• America Has Never Been Wealthier. Here’s Why It Doesn’t Feel That Way. A surge in U.S. wealth has been driven by stock and home values. But the gains are concentrated at the top, leaving others in a sour economic mood. (New York Times)
• Economic Tailwinds and Headwinds: The US economy is resistant to policy mistakes, and I’m still not currently on recession watch. However, I’m not sanguine. (Calculated Risk)
• China senses an opportunity in Trump’s cultural revolution: Policymakers in Beijing believe they will benefit from the destruction of America’s global credibility. (Financial Times)
• The Day Trump’s Tariffs Shook Wall Street and Corporate America: Markets tumble and executives scramble to grasp the scope and size of Trump’s trade barriers; ‘I almost couldn’t breathe.’ (Wall Street Journal) see also Trump Goes Crazy on Trade: “Liberation Day” is even worse than expected. (Paul Krugman) see also The Good News About Trump’s Tariffs: Authoritarian leaders are most dangerous when they’re popular. Wrecking the economy is unlikely to broaden Trump’s support. (The Atlantic)
• The Gen X Career Meltdown: it’s the end of work as we knew it and I feel… powerless to fight the technology that we pioneered nostalgic for a world that moved on without us after decades of paying our dues for a payday that never came …so yeah not exactly fine. (New York Times)
• The Paradox of Hard Work: Why do people enjoy doing difficult things? (The Atlantic)
• Inside arXiv—the Most Transformative Platform in All of Science: Modern science wouldn’t exist without the online research repository known as arXiv. Three decades in, its creator still can’t let it go. (Wired)
• With Shake Shack in First Class, Airline Food Is No Longer a Joke: The burger is just about mastered at 35,000 feet. The next big hurdle: crispy fries and avocado toast. (Businessweek)
• You should be setting rejection goals: Getting your dreams crushed can be surprisingly good for you. (Vox)
• A Fungi Pioneer’s Lifelong Work on Exhibit Mushrooms in 19th-century watercolors: The paintings of a self-taught female mycologist are featured at the New York State Museum. (New York Times)
Be sure to check out our Masters in Business this week with Lisa Shalett, Chief Investment Officer and head of Global Investment Office for Morgan Stanley Wealth Management, with more than $100 billion in assets under management. She leads the development of all asset allocation models, global investment due diligence and portfolio analytics, and oversees the Global Investment Committee’s models and Outsourced Chief Investment Office mandates.
Tariffs Will Especially Hurt the Developing World
Source: Bloomberg
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