Monday morning news drop
The forced labour filling our closets: U.S. is coming after it in an unprecedented way Penalties against goods made with forced labour take effect June 21. Businesses warn it will cause chaos (CBC)
Twilight of the NIMBY Suburban homeowners like Susan Kirsch are often blamed for worsening the nation’s housing crisis. That doesn’t mean she’s giving up her two-decade fight against 20 condos (New York Times)
A study gave cash and therapy to men at risk of criminal behavior. 10 years later, the results are in. Liberia found a stunningly effective way to reduce violent crimes. Now the US is trying a similar experiment. (Vox)
About 200 years ago, the world started getting rich. Why? Two economic historians explain what made the Industrial Revolution, and modern life, possible. (Vox)
The young, rich, anti-capitalist capitalists: “I sometimes joke that there are way more socialists who need a financial adviser than there are socialist financial advisers.” (Vox)
America’s first modern mass shooting never really ended The 1966 University of Texas Tower shooting remains clouded by myths, including the myth of the “good guy with a gun.” It left too many Americans with only evil to blame — and not our leaders, our policies and ourselves. (Texas Tribune)
Crypto Just Had Its Lehman Moment. What’s Next? Crypto investors confront hard truths in the wake of the Terra debacle. (Part of the crypto column series.) (Institutional Investor)
Wealthsimple started as a safe haven for investors — now it’s a major player in crypto trading. Is it putting profits before values? The online investing company was founded to help investors grow their money safely. Now it’s sucking investors into a ‘casino-like game,’ according to one critic, and pulling in millions along the way. (Toronto Star)
“Worst Housing Affordability” since 1991 (excluding Bubble) In real terms, house prices are now above the previous peak levels. On a price-to-rent basis, the Case-Shiller National index is at a record high, and the Composite 20 index is back to November 2005 levels. By all of the above measures, house prices appear elevated. (Calculated Risk)
The Real Estate Frenzy is Over: Things are still wild out there, but they’re no longer insane. We used to have 50 bidders for every asking price, now it’s down to just 5. We’re seeing price drops in what were some of the hottest housing markets last year. (Irrelevant Investor)
When Shipping Containers Sink in the Drink We’ve supersized our capacity to ship stuff across the seas. As our global supply chains grow, what can we gather from the junk that washes up on shore? (New Yorker)
TikTok trends or the pandemic? What’s behind the rise in ADHD diagnoses By 2016, the reported incidence of adult ADHD rose by 123% in the US – increases in stimulant medication prescriptions suggest its rise continues. (The Guardian)
Three Big Questions About the 2022 NBA Finals Will the Warriors’ elite offense best the Celtics’ elite defense? Will Steph Curry finally have his Finals MVP moment? Here’s a first look at the 2021-22 season’s championship matchup. (The Ringer)