Friday morning news drop
Federal budget 2022: Here are the highlights Finance Minister Chrystia Freeland's budget focuses on housing, greening the economy (CBC)
Federal budget moves ahead with new tax on big bank and insurer profits 1-time fee will be levied on 2021 profit, along with slightly higher rate moving forward (CBC)
Faster rate hikes, cooling home prices could put the squeeze on HELOC holders HELOC interest rates are variable, and many Canadians pay only the interest, leaving principal amount subject to rising rates. (Financial Post)
The U.S. Economy Is Booming. So Why Are Economists Worrying About a Recession? There is little sign that a recession is imminent. But sky-high demand and supply shortages are testing the economy’s limits. (New York Times)
Will high inflation hurt stock returns in the long run? Not really Inflation above 7% and a recent inversion in the yield curve have some investors wondering whether to tinker with their investment strategy. Investors won’t necessarily benefit, however, by moving their allocations to U.S. Treasurys. Think about the long-term, keep in mind that this time could be different, and stay the course. (CNBC)
Day drinking, ‘Big Shot’ and billions of dollars: How the nickel market imploded For the majority of the last decade, nickel prices were boring. On the London Metal Exchange, the premier trading and price-formation venue for industrial metals, nickel traded between $10,000 and $20,000 per metric ton and moved about $100 each day. Then in early March a short squeeze of epic proportions, prodded by Russia’s invasion of Ukraine, awoke the sleeping giant. (CNN)
America Is Staring Down Its First So What? Wave The United States could be in for a double whammy: a surge it cares to neither measure nor respond to. (The Atlantic)
Videos of the Week
John John Florence - Surfing through Portugal
The Wildest Event in BMX - THE BEST OF SWAMPFEST 2022
Trey Jones - Again & Again: We have always been a fan of Trey Jones and watching him grow up in the BMX community has been nothing short of amazing. From his own unique style of riding to the events he puts on, his passion is obvious, 100% BMX'er, which is what we are. Enjoy this edit and what's to come as Trey rejoins the Cult Crew.
Civilized - Dillon Lloyd: The man, the myth, the Buck. Wethepeople Pro Dillon Lloyd throws down for a brand new video filmed in his home of Montreal.
Boogie Nights Reimagined: After a year of relentless weather, Kona Canada’s sponsored trail Boogie Nights on Mt Seymour was in dire need of some love and upgrades. Our team of volunteers, in partnership with the NSMBA, worked tirelessly throughout the winter to bring new life to the trail. We are stoked to share the fruits of their labor with you. Video: Eric Lawrenuk
Hard Grit - Craig Evans: Loamers are easy - soft, grippy, forgiving. Craig Evans is hard, talented and relentless, which is how he's able to make some of Yorkshire's greasiest, squarest rocks look like a flow trail. Pull up a chair and a pint of ale for four minutes of savagely poetic riding on places tires have never been before.
Niklas Tilk - Ain't Done Yet: Hold on to your horses, Niklas Tilk spent one year travelling around Europe crushing every spot in sight. From tech freecoaster lines to deadman gaps; this video goes to show why Niklas is one of the most progressive 26" street riders out there. Enjoy 12 minutes of VX street goodness.
Hell of a Month - Best of March 2022 There’s so much heavy skating each month that we decided to package all the best footy into this super-edit. March was wild. April has a lot to live up to...
Riley Hawk's "Nepotism" Part: Riley flies down rails and attacks some banks while Turnstile stomps the soundtrack.
The Mark Suciu SOTY Trip: “Game On” Following his comprehensive tear through 2021, Suciu took to the underskated Italian island of Sardinia for a victory lap loaded with stunning spots alongside Busenitz, Knox, SBN, O’Brien and more.
Surfers Not Street Children Surfers Not Street Children is a charity that uses surfing to intervene in the lives of children living on the street in South Africa and Mozambique.