Meta Plunged from 5th Most Valuable Stock to 11th, behind Visa. In 10 Months, $647 Billion Vanish by Wolf Richter • Jul 29, 2022 • 186 Comments From ridiculously overvalued to troubled.
American Consumers Are Tough: Inflation Eats Their Income, But No Problem, They Still Outspend Inflation by Wolf Richter • Jul 29, 2022 • 272 Comments Though spending is slowly shifting back to services, consumers still binged on durable goods.
Would be a Hoot If Regulators Cracked Down on Companies BEFORE They Freeze Customer Deposits & Cryptos and File for Bankruptcy by Wolf Richter • Jul 28, 2022 • 154 Comments Bankrupt Voyager gets slapped with a cease-and-desist order from the Fed and the FDIC after it’s way too late.
GDP Sunk by Plunge in Private Investment, Drop in Government Spending. Consumer Spending Rose Despite Raging Inflation by Wolf Richter • Jul 28, 2022 • 225 Comments What Powell had indicated: Consumers hung in there, amid strong labor market, surging wages. But private investment plunged, incl -14% in residential.
Powell Puts 75-Basis-Point Hike on Table for Sept, Fed “Determined” to Get Inflation Down, Come Heck or High Water: Most Hawkish FOMC Press Conference I Ever Watched by Wolf Richter • Jul 27, 2022 • 363 Comments “People at the lower income spectrum are suffering from high inflation”: Seems Powell wants markets to come out of denial.
Big Tech & Startups Getting Ready for Reality: Shedding People, Offices, and Warehouses by Wolf Richter • Jul 27, 2022 • 126 Comments It’s kind of sobering. Reality has that effect, after a drunken binge.
The Most Splendid Housing Bubbles in America, July Update: Whittling Down the Crazy Price Spikes by Wolf Richter • Jul 26, 2022 • 110 Comments First Signs the juice is coming out, with several months lag.
Prices of New Houses Plunge, Sales Crater to Lockdown Level, Inventories Pile Up to Highest since 2008 by Wolf Richter • Jul 26, 2022 • 260 Comments No folks, there is no “housing shortage.” There’s over 9 months’ supply, highest since the Housing Bust. But prices are still way too high.
Walmart Raises Sales Outlook, Lowers Earnings Outlook, as Inflation Bites: Shares -10% Afterhours. Target, Amazon Sag by Wolf Richter • Jul 25, 2022 • 118 Comments Food sales are hot, but some other merchandise, “particularly apparel,” requires markdowns to get moving.
Vacant New Condo Tower in San Francisco: Tentacles of China’s Collapsing Property Developers Reach Deep into US Cities by Wolf Richter • Jul 25, 2022 • 174 Comments As the condo market is going south on you, you can always try to sell the tower to an investor to convert to rental apartments. But that’s tough too.
