My Morning La Jolla WFH wrote:

• A new pillar of the dollar system.There is now a lot of exciting talk that major reserve holders may stay away from the U.S. dollar due to sanctions imposed on Russia’s central bank. The main lesson of the Russian experience is that there is nowhere else. (Tooze)

• Ukraine war: What explains the calm in global stock markets? Surprisingly, the financial system has not been hit harder, but there are still warnings of systemic risks yet to be discovered. (Financial Times)

• The worst part of working from home now haunts reopened officesA hybrid schedule should offer the best of both worlds: all the benefits of working from home (no commute, more focus, hanging out with the dog, whatever) and the benefits of face-to-face collaboration with coworkers. The thing is… a lot of times, it just doesn’t happen that way. (slate)

• America’s Inflation Problem Is Surprisingly Intractable The inflation problem in the United States is explained to the extent possible. (sound)

• More private jets take to the skies, creating gridlock on the ground Developers are rapidly expanding hangar space across the country to meet growing demand for places to park private jets. (New York Times)

• sign, seal, snatch A Georgia State University professor and his students are tracking a thriving underground market for stolen checks (Work Week)

• In the battle for the future of outdoor dining in New York City: During the pandemic, outdoor dining has been the lifeblood of New York City’s restaurant scene. Soon, it will look different. (city ??lab)

• Arguments for Asking Americans to Vote EJ Dionne Jr. and Miles Rapoport on voting as a public responsibility. (Literary Center)

• Women’s Issues: How Male Bias in Medical Trials Undermines Women’s HealthThe exclusion of women for centuries means that women’s diseases are often missed, misdiagnosed or completely enigmatic. (protector)

• Watch a million galaxies form in the universe’s first billion years Dramatic simulation shows light emerging at the beginning of the universe. (Saifeisi)

Be sure to check out our Master of Business interview This weekend with Bill Gross, co-founder of PIMCO who manages the Total Return Fund, the largest mutual fund in the world at $293B. Gross advised the Treasury on the role of subprime mortgage bonds and was named Morningstar’s ten-year fund manager in 2010.

Historically, mid-cycle shifts have resulted in a 20% contraction in price-to-earnings ratios

resource: Isabelle Nett

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