Chicago’s Budget Fix: Weed, Gambling, COLAs, and More Gambling? Nice Try by Bill Bergman • Dec 13, 2018 • 56 Comments Mayor Rahm Emanuel forgot to mention the biggie: Much More Debt.
Parker Drilling Bankruptcy Kicks off “Oil Bust 2” by Wolf Richter • Dec 12, 2018 • 26 Comments But look how the bonds got manipulated up 24% in one minute at the close.
US Bank Stocks Spiral Down by Wolf Richter • Dec 11, 2018 • 86 Comments Something’s not right: Banks are heavily exposed to record business debt as credit quality deteriorates.
China Auto Sales Plunge, Face First Annual Decline in 30 Years by Wolf Richter • Dec 11, 2018 • 60 Comments Industry panics, overcapacity spreads, but government brushes off the wailing and gnashing of teeth, looks to EVs.
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks by Wolf Richter • Dec 10, 2018 • 94 Comments “Authorities should prepare contingency plans.” The big four banks are too exposed to mortgages. Even if they don’t topple, the economy will get hit.
THE WOLF STREET REPORT by Wolf Richter • Dec 9, 2018 • 41 Comments The West Coast Housing Bubble Bursts Even Without Tech Bust, which is still to come.
The Wild East: Airlines in South & Southeast Asia by MC01 • Dec 8, 2018 • 45 Comments Huge aircraft orders, booming traffic, dozens of upstarts with easy mega-funding, fierce competition, already a big collapse, and allegations of shady business.
Ugly Week for Stocks: Bad Sign that Even the WSJ’s Mega-Effort to Reflate them Fizzled by Wolf Richter • Dec 7, 2018 • 99 Comments Apple plunges. FANGMAN stocks down 10.4% for the week, down $1.12 trillion from peak.
Fed’s QE Unwind Reaches $374 Billion by Wolf Richter • Dec 6, 2018 • 74 Comments But how low might the Fed’s balance sheet go?
It’s Happening: San Francisco House & Condo Prices Fall by Wolf Richter • Dec 5, 2018 • 92 Comments House prices down $265,000 from peak, down $60,000 from year ago. America’s most majestic housing bubble begins to deflate.