Friday morning news drop
So Long, QE. I'm Sure We'll See You Again Soon Over the past two recessions, asset purchases went from exotica to ho-hum tools of monetary policy. Don’t be surprised to see the practice return. (Bloomberg)
The Fed will hike rates this year - but this is what’s going to be the bigger surprise There are too many rate hikes priced in, but the big deal is the end of QE and the onset of QT [Quantitative Tightening]. Farewell to the “wealth effect” on spending. (Globe and Mail)
Central banks talk about inflation, but are they losing credibility when interest rates don't budge? Central bankers are optimistic on jobs and inflation but vague on timeline for hikes (CBC)
How to Survive When Stocks Behave Badly The stock market’s swings have been startling. Unfortunately, it’s wise to prepare for much worse. (New York Times)
Crypto collapse erases more than $1 trillion in wealth, forcing a reckoning for everyday investors Some are rethinking their plans; others say they are invested for the long term (Washington Post)
8 Surprising Lessons a Real Estate Editor Learned Buying Her First House It took us nine months of scouring the market in three states, touring dozens of homes, losing multiple bidding wars, and rescinding another offer on a fixer-upper that would need more work than we could afford to put in, before my partner and I finally closed on our home late last year—a cute, renovated Cape Cod outside of New York City. And, now that my homebuying odyssey is over, I wanted to share what I learned—things that no amount of writing about the housing market could teach. (Realtor.com)
Venture Capital Becomes a Tech Battleground Between China, U.S. U.S.-trained VCs built China’s tech sector, but now the Communist Party calls its shots (Wall Street Journal)
Peloton’s big whoops: The pandemic was the best thing that happened to Peloton until it was the worst. (Vox)
The Fall of Aaron Rodgers: From smart Jeopardy! host and likely regular season MVP to vaccine-denialist playoff loser. (GQ)
Videos of the Week
"FORM" || feat. John John Florence Thank you to everyone who contributed to this project. It took many different shapes over the years to get to where it is now. It was originally started in December 2017 as a film that focused more on a group of friends who grew up learning to surf Pipeline. Through different creative rounds, and a couple years on the shelf, it eventually evolved into an idea that followed the imagined point of view of Pipeline, with a perspective narrated by local musician Paula Fuga. It was a fun challenge to create a visual history of the wave, but this is not meant to be a complete story. There are too many people to name who have become a part of Pipeline's history over the years; they could never be fit into one short film. Thank you again to everyone who helped us put this together. The project is dedicated to Derek Ho, and those like him who have dedicated their life to surfing Pipeline.
JAWS PUMPING XL PADDLE SESSION!!! A very strong swell pushed along the north facing shores of Hawai'i today. Jaws was pumping with great conditions and a whole lot of big waves. The early morning started off with a lot of non stop energy and light offshore wind, the waves were around 10-12 ft with bigger sets. Right away Tyler Larronde cracked the ice with Ian Walsh as they caught the first few waves of the day. Everyone was really going for it and pushing the limits of paddle surfing at Jaws! Here are the highlight rides from todays XL paddle session. The waves were pumping all day long !
Dan Foley - Cultcrew 2021 Rehash: Foley is always fun to watch.
Kieran Reilly - Triple Flair: British BMX heavyweight Kieran Reilly has spun his way into the BMX history books landing the world’s first triple flair. To make it happen the crew built a custom roll-in and ramp at Asylum Skatepark in Nottinghamshire, England, where Kieran spent days on end attempting the trick, taking heavy hits one after another. The learning curve was steep, painful, and in the end, breathtakingly successful.
BSD - Rory McLean: Creative pegless BMX street riding from the mind of Rory McLean. Video: Jacob Campbell.
Austyn Gillette’s “Re Est” Globe Skateboarding Part We’ve known for months, but this vid officially announces Austyn’s spot on Globe Skateboarding. He celebrates by unleashing his finesse across the planet with Sammy, AK and Appleyard making it a family affair.