Friday's Fast Five: Week of 8.5
The Fine Print Cost a Widow a $464,000 Tax Deduction (The Wall Street Journal): A large gift of American Indian artifacts went awry when the donor didn’t have ‘magic language’ from the museum she gave it to.
U.S. Likely Didn’t Slip into Recession in Early 2022 Despite Negative GDP Growth (Dallas Fed): The nation’s GDP fell 1.6 percent on an annualized basis in first quarter 2022 and was followed by a 0.9 percent drop in the second quarter. However, we find that most indicators—particularly those measuring labor markets—provide strong evidence that the U.S. economy did not fall into a recession in the first quarter.
4 Helpful iPhone and Android Tricks You May Not Know About (The New York Times): Keeping up with new software features can be a chore, but here are a few tools from recent updates that may be useful — and potentially lifesaving.
Michael Saylor Bet Billions on Bitcoin and Lost (The Wall Street Journal): In 2020, MicroStrategy Inc.’s stock was stagnant, and the tech company struggled to compete with software giants. CEO Michael Saylor opted to buy bitcoin—lots of it. That decision backfired, badly. On Tuesday, MicroStrategy announced Mr. Saylor would step down as CEO, a position he has held since 1989, amid mounting losses tied to bitcoin.
Remote workers pushed up incomes and home prices in these cities (Axios): In these "pandemic boomtowns," like Boise and Austin, homebuyer incomes (the wages of all the newcomers) soared over the past two years — and home prices went up right along with them.