In No Mood for Soft Landing, Americans Keep Splurging, Outspend Inflation, No Problem by Wolf Richter • Dec 1, 2022 • 175 Comments With this kind of demand, it’s hard to imagine that inflation will just vanish.
“Core Services” Inflation Gets Worse, “Core Goods” Inflation Backs Off: Yardstick for Fed’s Inflation Target, Core PCE, Nails What Powell Said Yesterday by Wolf Richter • Dec 1, 2022 • 125 Comments Inflation moving “sideways” at very high levels for nearly a year and hasn’t come down meaningfully, Powell said yesterday, and as we see today.
These Crazy Rallies on Hawkish Fed Plans Are Good Because Crashing Stocks & Seizing Credit Markets Would Cause the Fed to Wobble in its Inflation Crackdown by Wolf Richter • Nov 30, 2022 • 138 Comments There was a time when markets tried to force the Fed’s hand by crashing.
Layoffs, Quits, Job Openings, Hires, Wages: No “Landing” Yet for Job Market, Eager Employers Quickly Hire Laid-off Workers by Wolf Richter • Nov 30, 2022 • 50 Comments Workers still leveraging this historically tight labor market, but a little more cautiously?
Euro Inflation without Energy Rages to New Record. Overall CPI Second Worst Ever by Wolf Richter • Nov 30, 2022 • 133 Comments The ECB’s horror show.
The Most Splendid Housing Bubbles in America, November Update: Deflating Everywhere, Fastest in San Francisco & Seattle. Phoenix & Dallas Roll Over Too by Wolf Richter • Nov 29, 2022 • 217 Comments In several markets, prices plunged even faster than they’d spiked.
BlockFi, 8 Subsidiaries File for Bankruptcy: Smooth & Efficient Crypto Contagion Continues by Wolf Richter • Nov 28, 2022 • 167 Comments The price of consensual hallucination. Filing also lists $30 million SEC settlement, and huge amounts owed to unnamed “clients.”
The Fed’s Liabilities under QT: November Update by Wolf Richter • Nov 27, 2022 • 105 Comments Total liabilities dropped by $344 billion since QT began. Big shifts between liabilities: reserves already plunged by $1.12 trillion.
Consumer Bankruptcies, Foreclosures, Delinquencies, and Collections: Free Money Still Doing the Job by Wolf Richter • Nov 25, 2022 • 227 Comments Powell said many times consumers can take tightening because loan distress is at historic lows. What consumers cannot take for long is raging inflation.
Massive Cancellations Make Mess of Already Low New-House Sales. Inventory Glut at Deep Housing Bust 1 Level. Buyer Traffic Plunges by Wolf Richter • Nov 23, 2022 • 145 Comments Another thing: inflation. Just when you thought the construction-cost spike was abating, it hit a new record.
