Tech Bust Takes Next Step: Layoffs & Hiring Freezes by Wolf Richter • Jun 2, 2022 • 127 Comments Dotcom Bust 2 has begun. Only bigger. (Transcript from the podcast).
Crude Steel Production in 2021 Shifted from China to Other Countries amid Supply Chain Chaos: US Production Spiked 15% by Wolf Richter • Jun 1, 2022 • 55 Comments China still produced more crude steel than the rest of the world combined. Just a baby step, but a huge change in direction.
First Big Drops in Astronomical Job Openings in Key Sectors, But Spikes to Record in Manufacturing & Construction by Wolf Richter • Jun 1, 2022 • 114 Comments Layoffs at record low, “quits” near record high with huge number of “hires,” amid massive churn as people go job-hopping.
The Most Splendid Housing Bubbles in America, May Update: Mania at the Eve of Holy-Moly Mortgage Rates by Wolf Richter • May 31, 2022 • 282 Comments Purchased in a panic when mortgage rates averaged 3.2% to 4.2%, just before the majestic spike.
EV SPACs Warn about Running Out of Cash: The Beginning of the End for the Craziest Stock Bubble Ever by Wolf Richter • May 30, 2022 • 173 Comments Electric Last Mile said it might only make it “into June.” So far in this cycle, 25 SPACs have warned they might not make it, including 6 EV SPACs.
THE WOLF STREET REPORT: Tech Bust Takes Next Step: Layoffs & Hiring Freezes by Wolf Richter • May 29, 2022 • 179 Comments Dotcom Bust 2 has begun. Only bigger.
Powered by (Formerly) Huge Gains from Real Estate, Stocks, Cryptos, as “Real” Incomes Lag? “Real” Consumer Spending Rises, Spending on Services Jumps by Wolf Richter • May 27, 2022 • 129 Comments You can see why some retailer stocks are not liking the shift from goods back to services.
Demand Destruction Hits Gasoline (But Only a Little) as Prices Spike in Historic Leap Just for Summer Driving Season by Wolf Richter • May 26, 2022 • 139 Comments I see gasoline prices rising further despite this modest short-term & long-term demand destruction.
If Buffett Still Owns Snowflake Tonight, His Gain of $1.9 Billion at the High is Now a Loss of $37 Million by Wolf Richter • May 25, 2022 • 94 Comments Snowflake reported earnings again, which these IPO companies should be prohibited from doing because it just kills the stock.
US Natural Gas Futures Spiked to Highest since 2008, Tripled in a Year: Why We Kissed that Dirt-Cheap Natural Gas Goodbye by Wolf Richter • May 25, 2022 • 151 Comments The boom in natural gas exports creates massive demand on US production and connects US prices to the rest of the world.
