EV IPO Insta-Collapse: Phoenix Motor Plunges into Void on 1st Day, More on 2nd Day. Parent SPI Energy Already Imploded 99% by Wolf Richter • Jun 9, 2022 • 70 Comments Wall Street is still trying to bleed retail investors. But they’re no longer all that eager to get bled.
Housing Bubble Getting Ready to Pop: Mortgage Applications to Purchase a Home Drop to Lockdown Lows, “Bad Time to Buy” Hits Record amid Sky-High Prices, Spiking Mortgage Rates by Wolf Richter • Jun 8, 2022 • 305 Comments Refinance mortgage applications collapsed to lowest since year 2000.
What’s Really Going on with Revolving Consumer Credit? by Wolf Richter • Jun 7, 2022 • 180 Comments Beyond some of the iffy stuff in the headlines today.
Wondering Why the Price of Natural Gas is Suddenly so Damn High? The Booming US LNG Export Industry by Wolf Richter • Jun 7, 2022 • 108 Comments US natural gas prices tripled from the 10-year average, now linked to global prices, with 7 LNG export terminals now operating and 15 more approved.
Gasoline Spikes to Nearly $5 US Average, Diesel to $5.70. Crude Oil WTI Jumps to $119. Inflation Not in the Mood of Peaking Yet by Wolf Richter • Jun 6, 2022 • 207 Comments San Francisco regular hit $6.34 on average; at Wolf’s gas station from heck, it hit $6.79, premium at $7.00.
Container Ship Wait-Times at Shanghai Fall, Still High. Container Freight Rates Drop, Still 4x of 2019: “Stabilization of Supply Chain Pressures at Historically High Levels” by Wolf Richter • Jun 6, 2022 • 33 Comments Supply chains improve from catastrophically stressed to just very stressed.
THE WOLF STREET REPORT: Dotcom Bust 2, New & Improved by Wolf Richter • Jun 5, 2022 • 174 Comments But we’ve had it so good for so long. And it was so easy, and it made everyone look like a genius.
What I think Musk Did, Genius Manipulator he is, by Threatening to Decimate Tesla’s Salaried Staff & Management while Increasing Headcount of Factory Workers by Wolf Richter • Jun 3, 2022 • 270 Comments He has a rebellion over WFH on his hands, not a demand problem for EVs, and is knuckling them into submission.
These Jobs Reports Are Not Good for Stocks by Wolf Richter • Jun 3, 2022 • 160 Comments And the Fed can see the budding Wage-Price Spiral too.
Suddenly Here Comes the Inventory: Homes Listed for Sale Jump amid Price Reductions and Sagging Sales by Wolf Richter • Jun 2, 2022 • 227 Comments The shadow inventory emerges with perfect timing, just as holy-moly mortgage rates and sky-high prices keep buyers away.