Wednesday morning news drop
The Reason Gas Prices Are Finally Plummeting: The most significant driver of the price drops? Demand, demand, demand. Multiple consumer surveys have found that the year’s cost surge motivated many American drivers to reconsider their primary means of transport—and to drive much less overall. (Slate)
Think 9% Inflation Is Bad? Try 90%. With the world grappling with rising prices, a tour through Argentina reveals that years of inflation can give rise to a truly bizarre economy (New York Times)
Why the market is bouncing: The money has to go somewhere. The stock and bond markets, in combination, form an equilibrium, absent severe changes in the money supply or the overarching needs of the investing public. There is stasis. (The Reformed Broker)
These Factors Outperform When the Dollar Appreciates: The last three times this has happened, large-cap and quality stocks have beaten the broader market. (Institutional Investor)
How This Economic Moment Rewrites the Rules: Jobs aplenty. Sizzling demand. If the United States is headed into a recession, it is taking an unusual route, with many markers of a boom. (New York Times)
The Michael Scott Economy: Why don’t I tell you my biggest weaknesses as an economy? Too many people have jobs and wages are rising too fast. (A Wealth of Common Sense)
A bunch of charts showing how supply chains have improved: But is supply improving or demand deteriorating? Supply chains have improved considerably in recent months. The New York Fed’s Global Supply Chain Pressure Index1 — a composite of various supply chain indicators — fell in July to its lowest level since February 2021, meaning supply chains are easing. (TKer)
What’s Really Going on With Fox News, Rupert Murdoch, and Donald Trump: The network does what its viewers want, not vice versa. (Slate)
A Different Kind of Moneyball: Newcastle United Is Finding Out What Winning in the Premier League Really Costs Last year, Newcastle United, the deeply beloved and perpetually mismanaged team from North East England, was taken over by Saudi Arabia’s Public Investment Fund. Now fans are finding themselves in the middle of a debate around money in the game, and what a foreign country wants with a football club. (Ringer)
‘My Life as a Rolling Stone’ shines a stadium-worthy spotlight on the Rolling Stones. “The Beatles: Get Back” set a very high bar for musical nostalgia, but “My Life As a Rolling Stone” is no slouch, breaking the four band members into their own dedicated hours, with extensive access to the three surviving members and a who’s who of rock voices serving as the chorus. Yes, you can’t always get what you want, but for Rolling Stones fans, this should come close. (CNN)
The New J.Crew: At its peak, J.Crew might have been the most important menswear retailer in America. Then it went bankrupt and tasked downtown New York designer Brendon Babenzien with bringing it back. In a world that’s gone crazy for streetwear and high fashion, can he make oxford shirts and khaki pants cool again? (GQ)
