I Want to Add a Word about Ageism in this Bizarre Labor Market and How it Hits Labor Force & Unemployment Numbers by Wolf Richter • Jul 8, 2022 • 289 Comments And there was nothing in this jobs report to spook the Fed out of tightening.
Fed’s QT Kicks Off: Total Assets Drop by $74 Billion from Peak, New Era Begins by Wolf Richter • Jul 7, 2022 • 245 Comments QE creates money. QT does the opposite: it destroys money.
New Vehicle Sales in Russia Collapsed by 82% in June by Wolf Richter • Jul 7, 2022 • 84 Comments The top 10 brands in Russia and their struggles.
Tech Layoffs & Hiring Freezes Only Made Tiny Dent in Red-Hot Labor Market in May by Wolf Richter • Jul 6, 2022 • 185 Comments Enormous churn and job hopping amid aggressive hiring, near record low layoffs, near record high job openings and quits.
Bank of Japan’s Assets Drop for 2nd Month in a Row by Wolf Richter • Jul 6, 2022 • 81 Comments Possibly confusing to folks in the US financial media that in recent months had hyped some new QE by the BOJ.
New Vehicle Sales in June 2022 Plunged 25% from June 2019, Back to 1970s Levels, on Inventory Shortages by Wolf Richter • Jul 5, 2022 • 110 Comments Pent-up demand in time for the recession when supply might finally rise enough? This messed-up economy will continue to dish up surprises.
Manufacturing Still Hung in there in May, New Orders Surged in Part Driven by Raging Inflation. June Less Promising by Wolf Richter • Jul 5, 2022 • 69 Comments Consumers shift their spending back to services. The spending boom on goods is over, and it will eventually show up in manufacturing.
THE WOLF STREET REPORT: Leverage & Interconnectedness Are Blowing Up Crypto & DeFi by Wolf Richter • Jul 4, 2022 • 317 Comments That’s what’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected. Unlike prior “crypto winters.”
Housing Bubble Getting Ready to Pop: Pending Sales Plunge in June, Inventory Jumps, Price Reductions Spike amid Holy-Moly Mortgage Rates by Wolf Richter • Jul 1, 2022 • 438 Comments Pent-up supply suddenly shows up – those vacant homes that no one was counting as vacant.
Eurozone Whacked by Runaway Inflation, “Fragmentation” Fears after Years of Negative Interest Rates and Reckless QE by Wolf Richter • Jul 1, 2022 • 135 Comments Raging inflation started mid-2021, but the ECB called it temporary. In June, it ranged from 6% to 22%!
