11/2/20 Power Five

1. Conservative-Leaning Economist Magazine Endorses Biden“In 2016 American voters did not know whom they were getting. Now they do. They would be voting for division and lying. They would be endorsing the trampling of norms and the shrinking of national institutions into personal fiefs. They would be ushering in climate change that threatens not only distant lands but Florida, California and America’s heartlands. They would be signalling that the champion of freedom and democracy for all should be just another big country throwing its weight around. Re-election would put a democratic seal on all the harm Mr Trump has done.”

2. Spotify Reaches 144 Million Subscribers But… – What happens when the gate-keeper of the music industry can’t turn a profit? For one, they double down on podcasts and original content, not music. In a world without CDs, radio, even live concerts this year, how does the music industry stay afloat off streams and digital?

3. Stiglitz on How to Fix the Economy – “There’s no question that an incredible amount of damage has already been done — you can’t un-bankrupt a business that’s already gone under — but it’s still not too late to act. If the federal government does more now, it can prevent the hole the country is in from growing deeper.” More in his new paper.

4. Struggling Rental Market Could Usher In Next Housing Crisis – “A study of unemployed workers released last week by the Federal Reserve Bank of Philadelphia calculated outstanding rent debt would reach $7.2 billion before the close of 2020. Moody’s Analytics estimates that it could reach nearly $70 billion by year-end if there is no additional stimulus spending. The economic-research firm calculated that 12.8 million Americans would then owe an average of $5,400 from missed payments.”

5. How Daylight Savings Affects Your Part of the Country – The policy we hate the most, but for some reason, it’s still here with us.

Da Winnah – Mahonri Young, 1927. Springville Museum of Art