My “Wealth Effect Monitor” for the Money-Printer Economy: Holy Moly, October Update by Wolf Richter • Oct 2, 2021 • 254 Comments The bottom 50% need not apply. They just get to eat the soaring costs of housing. How the Fed totally blew out the already gigantic wealth disparity during the pandemic.
Incomes Got Chewed Up by Inflation. Americans Spent Heroically on Goods, But Not on Services. Eviction Moratoriums & Forbearance Implicated by Wolf Richter • Oct 1, 2021 • 144 Comments Millions of people didn’t spend on two big services: rent & interest. How spending got skewed in bizarre ways.
Fed’s Lowest Lowball Inflation Measure Hits 30-Year High by Wolf Richter • Oct 1, 2021 • 118 Comments “Transitory” is the new Spandex.
Treasury General Account Plunges by $100 Billion in One Week. How Close to Zero Will it Get? by Wolf Richter • Sep 30, 2021 • 112 Comments “Debt Ceiling Farce 2021”: S&P threatens to downgrade the US by 20 notches to “D” if it defaults, which would be a hoot.
US Dollar Status as Dominant “Global Reserve Currency” amid Reckless QE & Government Deficits by Wolf Richter • Sep 30, 2021 • 123 Comments The decline of Dollar Hegemony. But other options are also shaky.
“Transitory” is the New Spandex: Powell Admits it, Still Denies its Cause. Why this Inflation Won’t Go Away on its Own by Wolf Richter • Sep 29, 2021 • 206 Comments Blames tangled-up supply chains but not what’s causing supply chains to get tangled up: The most grotesquely overstimulated economy ever.
The Most Splendid Housing Bubbles in America: Holy Cow, September Update by Wolf Richter • Sep 28, 2021 • 322 Comments Even the Fed is getting antsy about this raging mania house-price inflation. Housing Bubble 1 is starting to look cute in comparison.
When Fed Doves Get Hawkish… Balance Sheet Runoff Should Start at End of Taper, First Half 2022: Bullard by Wolf Richter • Sep 28, 2021 • 114 Comments “Inflation could be a lot more persistent than we had hoped.”
Red-Hot Rents to Fire Up CPI Inflation Just When “Temporary” Is Supposed to Unwind It by Wolf Richter • Sep 27, 2021 • 142 Comments Asking rents spiked 10%-25% in half the cities. Rents fell in only a few, incl. -25% in San Francisco from 2019 peak.
Suppliers in China for Apple, Tesla, Intel, Nvidia, Qualcomm, NXP, Infineon, ASE Forced to Halt Production amid Energy Crackdown by Wolf Richter • Sep 26, 2021 • 204 Comments The Everything Shortage keeps promising to keep getting worse.
