Big Tech Stocks Plunge with Spooky Parallels to Dotcom Bust: -25% to -66% from Highs so Far by Wolf Richter • Oct 2, 2022 • 116 Comments But the market is due for a bounce, according to the WOLF STREET dictum that “Nothing Goes to Heck in a Straight Line.”
UK Credit Market & Pension Panic, How Far Will the Fed Go, Upheaval in New Car & Truck Demand, Buyers’ Strike for Used Vehicles, and Housing Downturns in the US & Canada by Wolf Richter • Oct 1, 2022 • 93 Comments Wolf Richter on “This Week in Money.”
Flush with Pandemic Cash & Tax Revenues, States, Cities Throw Money Around. Congress too. Is it a Surprise Consumers Outspent this Raging Inflation? by Wolf Richter • Sep 30, 2022 • 128 Comments The Fed, which is trying to slow demand to tamp down on consumer price inflation, gnashes its teeth.
Fed’s Favored Inflation Index Says: Underlying Inflation Just Isn’t Slowing Down at All by Wolf Richter • Sep 30, 2022 • 137 Comments Everyone wants to know when inflation is finally going to cry uncle.
Eurozone Inflation Spikes to 10%, Ex Energy 6.4%. Germany 10.9%. From Temporary Inflation mid-2021 to Runaway Inflation by Wolf Richter • Sep 30, 2022 • 76 Comments This inflation shock finally goosed the ECB out of its reckless NIRP policies.
Amazon to Close 4 of its 5 US Call Centers, Shifts to Work-from-Home, after Closing 44 Warehouses, Halting Construction on 7 Office Towers by Wolf Richter • Sep 29, 2022 • 121 Comments The giant’s footprint reduction to cut costs sinks Commercial Real Estate.
Laid-Off Workers Hired Quickly by Other Companies: This Labor Market Is Astonishingly Strong, Fuel for Fed Inflation Worries by Wolf Richter • Sep 29, 2022 • 144 Comments It’s already playing a key role in every one of Powell’s press conferences.
SPAC Bamboozle Keeps on Giving: Stock Shredded, Low on Cash, Layoffs Underway, Volta Goes after Government Subsidies for EV Charging Stations by Wolf Richter • Sep 28, 2022 • 94 Comments The model of “growth at all cost” has been taken out to the dump.
UK Chaos Economics: Fretting over “Financial Stability” & “Contagion” after Gilts Plunged, Bank of England Buys Bonds by Wolf Richter • Sep 28, 2022 • 258 Comments It wasn’t big hedge funds that blew up, but £1.5 trillion in leveraged pension funds. BoE stepped in to bail them out and prevent further contagion.
The Most Splendid Housing Bubbles in America: Price Drops Spread across US. Steepest Monthly Plunges since Housing Bust 1 in San Francisco -3.5%, Seattle -3.1%, San Diego -2.5% by Wolf Richter • Sep 27, 2022 • 204 Comments The Case-Shiller index, which lags by several months, is starting to flip market by market, including in Phoenix, Dallas, Washington DC, and Boston.
My “Wealth Disparity Monitor”: QT, Rate Hikes, Dropping Stocks & Bonds Reduce Outrageous US Wealth Disparity by Wolf Richter • Sep 26, 2022 • 293 Comments Wealth of the “Top 0.1%” drops by $12 million per household; the wealth of the “Bottom 50%,” who have nearly nothing, rises.
UK Bond Yields Do Monster Spike, Pound Plunges as Bond Vigilantes Rise from Graves, Go after Government’s Fiscal Recklessness by Wolf Richter • Sep 26, 2022 • 127 Comments Bank of England: won’t “hesitate” to hike rates “as much as needed.” Bond market fears much higher inflation and interest rates, for much longer.
The Bear-Market Rally in Stocks, Bonds, Mortgages Wiped Out: Why This Nails the Parallel to the Dotcom Bust by Wolf Richter • Sep 25, 2022 • 336 Comments But this time, there’s over 8% inflation.
To Compete with Spiking Treasury Yields, Banks Now Offer 4%+ on “Brokered” CDs of 6 Months to 5 Years by Wolf Richter • Sep 23, 2022 • 210 Comments Holy-moly mortgage rates close in on 7%.
This Inflation Will Be Tough to Get under Control by Wolf Richter • Sep 22, 2022 • 275 Comments It’s like a dam broke. And now higher interest rates and mortgage rates for much longer, with lower asset prices, as the Everything Bubble gets repriced.
The Most Splendid Housing Bubbles in Canada, September Update: House Prices Plunge by Wolf Richter • Sep 22, 2022 • 109 Comments The ridiculous price spikes now face Bank of Canada’s monster rate hikes, QT, and spiking mortgage rates.
Powell’s Whatever-it-Takes Moment: Policy “WILL Be Enough to Restore Price Stability.” Fed Hikes by 75 Basis Points. Shocker, Sees 4.4% by End of 2022 by Wolf Richter • Sep 21, 2022 • 286 Comments “Housing market will have to go through a correction … to where people can afford housing again”: Powell
Housing Bubble Woes: Home Prices Drop 3.5%, Steepest Monthly Drop since Jan. 2016. Sales, already at Lockdown Levels, Drop Further. Active Listings Rise Further by Wolf Richter • Sep 21, 2022 • 141 Comments But these sales happened during the “Fed pivot” fantasy that pushed mortgage rates down to 5%. Now mortgage rates are near 6.5%.
Even in Japan, Inflation Begins to Rage after 23 Years of True Price Stability by Wolf Richter • Sep 20, 2022 • 54 Comments Bank of Japan lets yen go to heck, trade deficit blows out, costs surge for manufacturers, prices surge for consumers.
New Vehicle Inventory Still Near Record Lows, with Twist: Fuel-Efficient Cars Vanish, Full-Size Pickups Pile Up. Ram, Dodge, Jeep Overstocked by Wolf Richter • Sep 20, 2022 • 114 Comments But Kia, Toyota, Honda: nearly nothing on the lot. Where the shortages are, and where ample supply is, by brand and segment.
