Friday morning news drop
Bernanke: Inflation Isn’t Going to Bring Back the 1970s: Although inflation was very unpopular in the ’60s and ’70s, as it (understandably) is today, any inclination by the Federal Reserve to fight inflation by raising interest rates, which could also slow the economy and raise unemployment, met stiff political resistance. President Lyndon Johnson, attempting to insulate the public from the economic costs of an unpopular war, put intense pressure on the Fed chairman, William McChesney Martin, to keep interest rates low. (New York Times)
Stopping inflation is going to hurt The economy will feel worse before it feels better. (Vox)
Bear Markets and Recessions Happen More Often Than You Think The U.S. has been in recession 14 percent of the time since World War II. But being prepared can minimize hardship and even offer investing opportunities. (New York Times)
Increase Your Exposure to Humility During a Bear Market: We’ve been in a bear market for a while now but never reached the technical definition of a 20% peak-to-trough drawdown in the S&P 500…until yesterday that is. This is now the 13th decline of 20% or worse since World War II: (A Wealth of Common Sense)
Why we’re not buying the dip in stocks 1. Increasing risks off falling profits; 2. Equities haven’t cheapened that much; 3. Growing risk that the Fed tightens too much (BlackRock)
The rising popularity of sustainable investing — and the controversies surrounding it Interest in ESG-guided investment is on the rise, but critics are concerned about 'greenwashing' (CBC)
Why Biden Is Getting More Bipartisan Laws Than Anyone Expected I was skeptical he could convince Republicans to support anything. I was wrong. (New York Magazine)
Can streetwear media brands really sell clothes? First Zalando acquires Highsnobiety, now rival media brand Hypebeast is expanding its commerce offering with its first US store. Vogue Business examines their strategies for retail success. (Vogue Business)
The Wild Arrival of Digital Fashion To embrace your style in virtual realms, you might first have to completely change the way you think about fashion. (GQ)
How David Bowie’s Ziggy Stardust Redefined Stardom Released 50 years ago this month, Bowie’s seminal album introduced the world to a shape-shifting alter ego who left an indelible mark on music and pop culture. (Wall Street Journal)
Videos of the Week
The Yin & Yang of Gerry Lopez Trailer: From award-winning documentary filmmaker Stacy Peralta comes Patagonia’s ''The Yin & Yang of Gerry Lopez,'' a film that lifts the veil on one of surfing’s most enigmatic heroes. While “Mr. Pipeline” is famously known for his calm demeanour in the tube, Gerry built his career with aggressive surfing that left behind a trail of blood and tears. Gerry is as radical as he is Zen; he transcends categorization. He’s one of the most influential surfers and surfboard shapers of all time, an entrepreneur, a family man, a movie star and a lifelong yogi who brought surfing to new frontiers. His influence on modern surfing is immeasurable, and for the first time, his story is being told in full.
A week in Teahupoo with Matahi Drollet
When We Were Knights: How can you express everything that you want to somebody you love, knowing that if you don't, that might be the last opportunity that you have? That is a reality that we all face, but for BASE jumpers, the risk of death sometimes results in something amazing and unexpected - love.
CJ Hauptman Shreds The Shore: 14 year old CJ has been putting on some serious work and his progression is simply insane! Some of the lines he sends in this video, in the wet, are truly mind blowing. Way to go CJ, this is awesome. Video: Kelsey Toevs.