Thursday morning news drop
CRA suspends online accounts of over 100,000 Canadians after login credentials found for sale on dark web The Canada Revenue Agency had to suspend the accounts of more than 100,000 users of its online service because it detected troves of leaked login information on the dark web that could have led to data breaches. If your login data has probably been compromised through a third-party breach and you will need to contact CRA in order to regain access to your online account, particularly if you plan on filing your 2020 taxes online starting next week. (National Post)
Amazon’s Great Labor Awakening Covid-19 has cemented the e-commerce giant’s hold on the economy — but it has also spurred employees all around the country to organize. (New York Times)
Out in the Cold: uneven government support negatively impacts Island business John Wilson talks to Douglas about why narrow criteria for government funding has left communities stranded. (Douglas)
Covid Housing Boom Is Even Bigger Than Imagined The latest Fed data on household finances shows the extent to which record-low mortgage rates and surging home prices turbocharged the economic recovery. (Bloomberg)
Bond yields are not good predictors of inflation Bond market complacence should not be taken as strong evidence against the risk of overheating. The postwar history of US and foreign bond markets shows that bond yields are not good predictors of inflation. Yields largely reflect the behavior of inflation over many years in the past, not the future. It is far from clear whether inflation will rise significantly, but if it does, bond markets are not likely to have predicted it. (Peterson Institute for International Economics)
The Worst Year Ever for Value 2020 was the worst year for the value factor. Worse even than 1999. (Irrelevant Investor)
Clubhouse, a Tiny Audio Chat App, Breaks Through The 11-month-old app has exploded in popularity, even as it grapples with harassment, misinformation and privacy issues. (New York Times)
The Beach Bum Who Beat Wall Street and Made Millions on GameStop Mike McCaskill spent years scouring the stock market and betting on long shots. Then he found the opportunity that changed his life—and helped spark the mother of all short squeezes. (The Ringer)
Many top NBA players hesitant to promote coronavirus vaccines Players are expressing apprehension about accepting invitations to participate in league-sponsored public service announcements to bolster broader acceptance of the coronavirus vaccine. (ESPN)
The Buffett Indicator at All-Time Highs: Is This Cause for Concern? In 2001, Warren Buffett famously described the stock market capitalization-to-GDP ratio as “the best single measure of where valuations stand at any given moment.” (Visual Capitalist)
