Friday's Fast Five: Week of 7.15
The End of the Millennial Lifestyle Subsidy (The Atlantic): Something beyond rising energy and labor costs is leading to sticker shock on once-cheap urban amenities.
PGA Tour Under DOJ Investigation Over Potential Antitrust Violations (Axios): The PGA Tour suspended the 17 players who took part in Saudi-backed LIV Golf's inaugural event last month, with other players who take part in future events facing the same punishment.
Uber broke laws, duped police and secretly lobbied governments, leak reveals (The Guardian): The unprecedented leak to the Guardian of more than 124,000 documents – known as the Uber files – lays bare the ethically questionable practices that fueled the company’s transformation into one of Silicon Valley’s most famous exports.
Car Repos Are Exploding. That’s a Bad Omen. (Barron's): Most of the loans on recently repossessed cars originated during 2020 and 2021, whereas origination dates are normally scattered because people fall on hard times at different times; loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%.
Inflation will not fall to 2% target for two years, Fed’s Mester says (CNBC): Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank’s 2% target, adding that it will be “moving down” gradually from the current level.