Thursday morning news drop
After a year of climate disaster, B.C. grapples with the urgent need to adapt to its dangerous future ‘Climate change is upon us,’ but B.C.’s not yet prepared to face the heat, wildfires and floods ahead (Narwhal)
Canada's inflation rate stays at 18-year high of 4.7% Inflation rates are soaring around the world right now, as the combination of record government spending, supply chain disruptions and a surge in demand for consumer goods has caused prices to rise quickly. (CBC)
Federal Reserve to wind down stimulus faster — and likely hike rates faster, too In abrupt shift, the US Federal Reserve bank will wind down so-called QE program much faster than previously planned (CBC)
What Could Possibly Go Wrong? These Are the Biggest Economic Risks for 2022 Economists have struggled to see ahead in the pandemic. They’re upbeat about next year, but could easily get blindsided again (Bloomberg)
The Age of Financial Misinformation. Because it’s never been easier to spread financial information, but also never been harder to check it.But this is just the tip of the financial misinformation iceberg. Because it isn’t just incorrect information that’s the issue, but misinterpreted information as well. For example, last week I tweeted out this chart from Bloomberg showing how net equity flows this year have eclipsed the combined inflows of the past 19 years. (Of Dollars And Data)
Simply adding supply won’t solve our housing crisis Housing is both a human right and a profitable asset — and that’s the problem (TVO)
NFTs explained: Why people are spending millions of dollars on JPEGs People are spending millions for a reason, regardless of how weird it seems. (CNET)
Corner Stores Are the New Darlings of the Global Tech Industry A billion-dollar effort to turn these unassuming shops into mini–tech hubs is only just beginning. (The Atlantic)
Unvaccinated Covid Patients Push Hospital Systems Past the Brink There are consequences to a health system locked up by Covid patients. There were still strokes, heart attacks and accidents coming in. The Unvaccinated are not only killing themselves, they are killing these other people also, as they take scarce ER/ICU beds. Hospital around the state are full, and transfers to other hospitals were nearly impossible. (Bloomberg)
Looney Tunes Will Never Die and That’s All, Folks! How Bugs Bunny and his pals managed to become a TV success impervious to time and changing standards (Walrus)
Fogo Island: Bringing new life to a remote Canadian fishing community A remote jewel of land off the coast of Canada, Fogo Island floats in the northeast corner of the northeast province of Newfoundland and Labrador, the outstretched right fingertip of this continent. The place might be drop-dead gorgeous, but it wasn't immune to the fate befalling so many small and isolated communities in North America: its one and only industry went into steep decline, and so in turn, did its population. Then about a decade ago, a local returned home, fresh off making a fortune in the tech sector. Her pockets were deep. So was her desire to lift up the place and bring people back. So she unleashed a sort of economic experiment. (60 Minutes)