What We’re Reading

Mobility:

Fewer than 10% of Americans moved to new places in the 2018-2019 year, the lowest rate since the Census Bureau began tracking domestic relocations in 1947.

Historical diversification:

In the early 1950s, 4.2% of the U.S. population participated in the stock market, almost entirely through directly held stocks. These investors held undiversified portfolios—a median of two stocks. Half held one stock. Only 538,000 investors—0.35% of the population—held more than ten stocks.

Products:

Every 5-7 years there is room for a new social network to emerge in the next wave of high school and college students. TikTok is a good example of this, following SnapChat in the past.

Collections:

Individual taxpayers are half as likely to get audited as they were in 2010, after tax enforcement by the Internal Revenue Service fell to the lowest level in at least four decades.

Rules:

U-Haul International has announced plans to stop interviewing and hiring nicotine users, including people who use e-cigarettes and vaping products.

The well-known truck and trailer rental company approved the nicotine-free policy set to go into effect Feb. 1 in more than 20 states where the company operates, the Arizona Republic reported Wednesday.

Peace:

First I deleted my Facebook and Twitter accounts, agents of digital dysphoria that were turning me and countless others into crazy people. But I didn’t stop there. I cancelled all my newspaper and periodical subscriptions, including the Wall Street Journal, a once but no longer trusted news source I had read every morning for more than 30 years. Then I gave up writing opinion columns. I stopped listening to NPR. I deleted all the browser bookmarks I had accumulated for news and commentary sites that kept me “informed,” including inflammatory volcanoes of vituperation like Zero Hedge. Banishing the loathsome CNN/Fox two-headed beast was not an issue because I stopped watching TV back in the 1980s when Diane left Cheers. I did everything I could to decouple from the 24-hour news cycle, including relegating directly to the trash all of the “Have you seen this outrage? Pass it on!” emails that used to fill my inbox. I unsubscribed from all the echo chambers I’d come to frequent. I did all of this cold turkey over the space of a few days.

Have a good weekend.


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