Monday morning news drop
Inside the COVID-19 recession, one of the most unequal in modern history While many middle and high-income workers are back at work, the country's low-wage workers are still suffering from a recession that has annihilated their jobs. (60 Minutes)
The Most Important Chart of the Decade We just witnessed the only recession in the history of this planet where the personal savings rate hit a 50-year high. This chart, which I think is the most important one from the last decade, comes from J.P. Morgan’s Guide to Retirement. (Irrelevant Investor)
How to Profit From Inflation Stock prices are said to climb a wall of worry. These days, that worry is inflation. (Irrelevant Investor)
Inside Xinjiang’s Prison State Survivors of China’s campaign of persecution reveal the scope of the devastation. (New Yorker)
The Republican revolt against democracy, explained in 13 charts The Trump years revealed a dark truth: The Republican Party is no longer committed to democracy. These charts tell the story. (Vox)
“Mark Changed The Rules”: How Facebook Went Easy On Alex Jones And Other Right-Wing Figures Facebook’s rules to combat misinformation and hate speech are subject to the whims and political considerations of its CEO and his policy team leader. (Buzzfeed)
Tell Your Boss the Four-Day Week Is Coming Soon A century after the invention of the weekend, more companies are adding another day. (Businessweek)
In the Atlantic Ocean, Subtle Shifts Hint at Dramatic Dangers The warming atmosphere is causing an arm of the powerful Gulf Stream to weaken, some scientists fear. (New York Times)
Housing is Not (just) a Victoria problem You’ll often hear that real estate is local, and especially in a country as large as Canada, the conditions in one market don’t necessarily reflect those in any other. That’s usually true, but the pandemic has been an exception, with unprecedented synchronization of price trends across the country (and in fact across the continent). The year over year price increase for the country hit 23% in January, which has only been exceeded a couple times in the last 4 decades (and at much lower baseline prices). Even markets that have been in the dumps for years like Calgary saw a spike in the average sale price after the pandemic hit. (House Hunt Victoria)
