Tuesday morning news drop
Inverted Yield Curve: A Recession Alarm Is Ringing on Wall Street: An inversion of the bond market’s yield curve has preceded every U.S. recession for the past half century. It is happening again. (New York Times)
Good News: Economy Sucks, You’re Screwed, and It’s All Your Fault, Economists Say Make sure you’re doing your part to help fight inflation: accept those wage cuts and worsening working conditions! (Vice)
Recession: medicine that’s worse than the disease Some experts say we need a recession to bring high inflation down. That’s incorrect. Their model of the economy and views on what’s causing inflation risk making a bad situation much worse. (Sahm)
There Was Never Anything Wrong With Value: How the influence of popular value benchmarks challenges investor faith in the style and even the business of some value managers. (Institutional Investor)
Europe is burning like it’s 2052 The extraordinary heat wave in Europe is showing what’s possible already, and what lies ahead under climate change. (Vox)
It’s so hot in Europe that roads are literally buckling The world wasn’t built for this heat (Vox)
A public pension fund is Canada’s newest mega-landlord The Public Service Pension Investment Board is teaming up with real estate firms and betting on displacement of low-income renters (Breach Media)
How ‘Baby Al Capone’ Pulled Off a $24 Million Crypto Heist Ellis Pinsky was a regular suburban teenager until he found his way into the underworld of internet hackers. In his first interview, he details the crime that nearly ruined his life. (Rolling Stone)
America Was in an Early-Death Crisis Long Before COVID: Even before the pandemic began, more people here were dying at younger ages than in comparably wealthy nations (The Atlantic)
Your phone’s notification settings and the meaning of life Switching to a new phone is easy enough these days. The wheezing older model formed a huddle with the shiny oversized new thing, and within a few minutes had effected a near-complete digital handover. One exception was the notification settings. As they reset to the default, my new phone began to beep and buzz incessantly, like the strange offspring of R2-D2 and a cheap vibrator. (Tim Harford)
Why Formula One’s Fastest Team Isn’t Leading The Championship: Ferrari’s Speed Is World-Class. Its Reliability And Strategy? Not So Much. (FiveThirtyEight)