What we’re reading (8/5)
“Coronavirus Has Upended Everything Airlines Know About Pricing” (Wall Street Journal). As part of our ongoing coverage of the airlines, we’d be remiss not to share The Journal’s reporting that “[a]irlines have lost the ability to extract as much money as possible from travelers. And their pricing computers may stay confused for some time to come.”
“We Need The Export-Import Bank To Help Take On China” (The Hill). A pretty good primer from Newt Gingrich about export credit agencies, and the U.S. Ex-Im Bank in particular, and the role the latter can play as a counterweight to the substantial support the Chinese government provides to PRC-domiciled exporters.
“Ford, Struggling In A Changing Industry, Replaces Its CEO” (New York Times). “Jim Hackett, who failed to impress Wall Street, will be replaced by James Farley, an auto industry veteran who started his career at Toyota.”
“The Ballooning Money Supply May Be The Key To Unlocking Inflation In The U.S.” (CNBC). Quoted in the article, Morgan Stanley’s chief U.S. equity strategist Mike Wilson recently observed that “[i]t’s fair to say we have never observed money supply growth as high as it is today.” Conventional macroeconomic models hold that, in the long-term, money creation leads to a general rise in the level of prices (i.e., inflation).
“Financial Experts Recommend Americans Set Aside Giant Mesmerizing Pearl To Rub Obsessively In Retirement” (The Onion). “Hear more about the benefits of investing in an awe-inspiring pearl to tenderly caress while whispering, ‘Yes, my sweet,’ to it every night.”
