My end-of-week morning practice WFH reads:
• What We’ve Discovered From 150 Years of Inventory Market Crashes: Although they diverse in size and severity, the market at all times recovered and went on to new highs. (Morningstar)
• The Mysterious Billionaire Behind the World’s Most Fashionable Vapes: Geekvape, Misplaced Mary, Elf Bar and different prime disposable manufacturers all hint again to 1 man in Shenzhen. (Businessweek)
• Inside UBS’s Quiet Battle With the DOL to Handle Retirement Cash: Trillions had been at stake because the Division of Labor, which performs a job in defending U.S. non-public pension belongings, sifted by the financial institution’s checkered historical past earlier than giving UBS the inexperienced gentle. (Institutional Investor)
• Why authorities spending counts in GDP: GDP goals to seize the worth of all financial output produced in a given time interval inside U.S. borders. The formulation for that tally, which you will recall from introductory economics, is that GDP = consumption + funding + authorities spending + web exports. So why is authorities spending included in that formulation? As a result of in any other case GDP wouldn’t totally seize the worth of products and providers produced. (Axios)
• The Strategic Crypto Swindle: A bitcoin reserve can be a government-backed grift. (The Atlantic)
• It’s Xi Jinping’s World, and Trump Is Simply Residing in It: As Donald Trump blows up the rules-based order, China is pulling forward within the world battle for concepts. (Bloomberg)
• The place Jeff Bezos Went Improper With The Washington Put up: The billionaire dealt with his possession admirably for greater than a decade. However his braveness failed him when he wanted it most. (The Atlantic)
• Lastly, one thing is puncturing conspiracy theories: Researchers discovered an AI bot is fairly good at serving to folks rethink false beliefs. (Washington Put up)
• Trump Has Glossed Over Excessive Costs. Republicans Fear It Will Price Them. President talks extra typically about federal staff, range packages and international coverage than value of eggs. (Wall Road Journal) see additionally Trump doesn’t appear to know why he launched an enormous commerce conflict: The president’s causes for imposing tariffs on Canada and Mexico maintain altering (and none make sense). (Vox)
• The Wizard of Vinyl Is in Kansas: Chad Kassem is on a mission — saving listeners “from dangerous sound” — on the rural manufacturing facility the place he pores over LPs from a few of music’s most vital artists. (New York Occasions)
You should definitely take a look at our Masters in Enterprise subsequent week with Philipp Carlsson, International Chief Economist for Boston Consulting Group (BCG ). He’s the co-author of “Shocks, Crises, and False Alarms: Methods to Assess True Macroeconomic Danger,” named one of many Monetary Occasions Greatest Books of 2024.
The U.S. Financial system Relies upon Extra Than Ever on Wealthy Individuals
Supply: Wall Road Journal
Join our reads-only mailing checklist right here.
