Wednesday morning news drop
Here's how some Canadian companies are marking the National Day for Truth and Reconciliation Businesses not required to close for new statutory holiday are supporting reconciliation in their own ways (CBC)
Housing market at high risk of sharp correction, CMHC says Raises market risk assessment from moderate, says strength is far beyond what is warranted (Financial Post)
Labour shortage hampering post-pandemic recovery for businesses in Canada, study finds 55% of entrepreneurs can't find enough workers, leading to delays, limiting growth (CBC)
Five Lessons Evergrande Taught Us About The Chinese Economy How forcefully will China act to contain the damage done by Evergrande? Will China be able to shift its economic model successfully away from real estate and endless development? How will this shift affect the broader global economy? We’ll be paying attention in future weeks. (NPR)
Why coffee could cost more at groceries, cafes After hovering for years near $1 per pound, coffee futures — the price large-volume buyers agree to pay for coffee upon delivery months down the road — doubled in late July, reaching heights not seen since 2014. Though prices have eased a bit, they remain elevated at about $1.90 per pound. (AP)
Why America has a school bus driver shortage Across the country, school districts are struggling to fill transportation jobs. The shortage helps explain systemic problems in the labor market. (The Hustle)
The Supply-Chain Mystery: Why, more than a year and a half into the pandemic, do strange shortages keep popping up in so many corners of American life? (New Yorker)
The Broken Clock Most people don’t care about the objective truth, they just want an answer. Any answer will do. And the more confidently you can provide that answer, the better. It reminds me of the famous reply given to the Nobel laureate Ken Arrow after he discovered that his long term weather forecasts were no better than chance: “The Commanding General is well aware that the forecasts are no good. However, he needs them for planning purposes.” (Of Dollars And Data)
Zillow’s Home-Flipping Bonds Draw Wall Street Deeper Into Housing Zillow has essentially dived into the house-flipping business, offering to quickly take properties off sellers’ hands. And in the process it’s helping pull Wall Street even deeper into the $2 trillion U.S. housing market. (Businessweek)
America’s car crash epidemic Driving kills as many Americans each year as guns do. Experts say that’s preventable. (Vox)
Trump’s Plans for a Coup Are Now Public Some of the plots to overturn the election happened in secret. But don’t forget the ones that unfolded in the open. (The Atlantic)
