my midweek morning train WFH wrote:

• Here’s the most important thing Biden can do to control inflation The truth is that the president has relatively limited tools to fight inflation. Biden is reluctant to even use those levers, such as removing tariffs or speeding up the process of legal immigration. By law, it is the Fed’s job to maintain price stability. If Biden is truly concerned about the threat posed by inflation, he will immediately nominate three professionals with a record of political independence and a commitment to stable prices. (Washington post)

• Are we bullish enough? I know how extreme this sounds after the U.S. stock returns of the past decade or so, but what if it’s not a market crash but a melt-up that we need to worry about? What if the world recovered from Covid in a way that took the market to a whole new level? (dollars and figures)

• Looking at least to 2032: Our columnists say that in this season of forecasts and solutions, investors are better off if they can think 10 years or more ahead. (New York Times)

• Four Reasons You’re Seeing Empty Grocery Shelves A surge in omicron, extreme weather and record December sales are among the reasons the toilet paper aisle is looking shaky again. (Washington post) see also Why grocery store shelves are bare.again. Supply chains are made up of people. (slate)

• 50 company stocks to watch in 2022 From Airbnb to Volkswagen, watch these global stocks this year. Factors include growth prospects, management changes, and planned launches of notable products and services. The impact of the Covid-19 pandemic is important, as are the growth in electric vehicle sales, the transition to clean energy, increasing regulatory scrutiny in China, power shortages, and opportunities in virtual worlds. (Work Week)

• New York business owners dodge billions in federal taxes with state help Pass-through business owners paid the state $11 billion, which would exceed the federal SALT deduction cap. (Wall Street Journal)

• What is the antivirus company Norton even mining encryption on your computer? When a well-known antivirus company turns to cryptocurrency, the move can certainly be interpreted as a sneaky money grab.This is the general gist Corey Doctorow’s tweet Regarding Norton Crypto this week, he noted that Norton gets a cut of the cryptocurrency mined by its users (15% of the cryptocurrency allocated to each miner). But perhaps the more interesting question is its view of the antivirus software market, one of the most prominent makers of these products is now following Kodak’s path. (slate)

• Who is Web3 really for? It’s just business. In short, the companies that brought you Web 2.0** style centralization with all its pros and cons are now looking for their next big hit. While big tech companies have grown to a scale that challenges democracy while making all their early investors and employees richer than god, cryptocurrencies promise much more than that. The ability to own and fully control the entire economy. (margin)

• Are we witnessing the dawn of post-theoretical science? Does the advent of machine learning mean that the classic methods of hypothesis, prediction, and testing are obsolete? (protector)

• The App Store is (well, once) bad for blatant Wordle plagiarism: Apple’s App Store sucks for Wordle piracy. I don’t mean just the concept – the “word guess” game has a long history, including a defunct game show called “Lingo,” which was apparently the inspiration for Wordle – but the literal “Wordle” name and its design (daring fireball)

Be sure to check out our Master of Business interview Meet this weekend with Ray Dalio, founder, co-chairman and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund. Dalio’s latest book, Principles for Coping with a Changing World Order: Why Nations Succeed and Fail.

Where America’s top banks are betting on fintech

source: CB Insights

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