Grantham notes that he is “increasingly feeling like the boy watching the naked emperor passing in procession” about cryptocurrency’s “touchy-feely characteristic.”
Business
An “Out Of Touch” Wharton Business Student Thinks The Average Worker Makes $800,000 In The US
According to the Social Security Administration, the actual numbers for the average U.S. annual wage last year was $53,383, and the median wage was $34,612.
Peloton Execs And Insiders Sold Off Close To $500M In Stock Before It Crashed — Must Be A Coincidence
“One of the most well-accepted facts from decades of research on insider trading is that corporate insiders buy near bottoms and sell near peaks,” said Daniel Taylor from Wharton.
The US Lavishes $10 On Fossil Fuel Subsidies For Every $1 It Allocates For Education
Spending so much on fossil fuel subsidies compared to other programs seems indefensible when up to 80% of the US could be powered by renewables, in principal.
Indonesian Student Becomes A Millionaire After Turning Daily Selfies Into NFTs As A Joke
“Uploading my photo into NFT lol,” he tweeted. The next day on January 11, he tweeted: “Can’t believe people actually bought my photo NFT, 35 already sold in one day.”
The Vast Majority Of PPP Loans Went To Wealthy Households And Business Owners: Study
The economists suggest the US prepare a “sophisticated administrative system,” similar to other high-income countries that wield more efficient emergency financial programs.
Inflation On Wholesale Prices For Business Drops To Its Lowest Rate In 13 Months
Consumer inflation surged in 2021 by 7% — some wonder when the decreasing wholesale inflation for businesses will begin to show up in their retail prices.
A Small House Built In 1900 With “Zero Bedrooms” Just Sold For Nearly $2M In San Francisco
“This is peak San Francisco if I’ve ever seen it,” someone commented on Instagram. Another said: “Oh San Fran, keeping housing affordable since… never!!!”
NFT Cryptobros Paid $3 Million For A Dune Book Assuming That They Bought The Copyright Too?
The group described the potential burning of the physical book as an “incredible marketing stunt which could be recorded on video. The video even sold as an NFT itself.”
Ridley Scott On Box Office Returns For The Modern Film Industry: “We Don’t Know Shit”
Ridley Scott blamed Millennials in the EL post from 11/25/2021, saying: “I think what it boils down to…audiences who were brought up on these f**king cellphones.”
Economic Left 