Monday morning news…
Federal wage subsidies ended up costing taxpayers $188,000 a year for every job saved — maybe we should try a different approach Canadians are increasingly feeling frustrated by the number of profitable businesses that are receiving the Canada Emergency Wage Subsidy (CEWS). Linamar recently became the newest corporate villain after announcing a doubling of dividends while receiving more than $108 million in government handouts. They are far from alone. (Toronto Star)
Welcome to the Roaring ’20s, but Maybe Not for Stocks When the world finally bids good riddance to Covid-19, courtesy of a bevy of novel vaccines, expect Americans to emerge from their lairs with a joie de vivre not seen since the 1920s. That’s marvelous news for the economy, which could use some cheer after a punishing year, and for the many companies that will help keep the good times rolling. Just don’t expect the party on Main Street to spread to Wall Street, which had a rollicking celebration of its own this past year. (Barron’s)
The Rich Are Minting Money in the Pandemic Like Never Before Americans have become, by some measures, richer during the pandemic than ever before. It’s a difficult thing to fathom, what with the economic collapse and the surge in the ranks of the jobless, the homeless and the hungry. But the top 20% or so of earners have had to worry little about such matters. (Bloomberg)
How to Hold Social Media Accountable for Undermining Democracy While the blame for President Trump’s incitement to insurrection lies squarely with him, the biggest social media companies — most prominently my former employer, Facebook — are absolutely complicit. They have not only allowed Trump to lie and sow division for years, their business models have exploited our biases and weaknesses and abetted the growth of conspiracy-touting hate groups and outrage machines. (Harvard Business Review)
WMO consolidates 5 different datasets. All concur that we just had warmest decade and warmest 6 years on record.
