In States that Ended the Extra $300/Week Unemployment Benefits, People Returned to Work at Over Twice the Rate than in the Other States: Data from the Labor Department by Wolf Richter • Sep 2, 2021 • 225 Comments Data about the “Labor Shortage” pile up.
The Monstrous Flow of Free Money and the Shortages by Wolf Richter • Sep 2, 2021 • 142 Comments Free money destroyed the pricing mechanism, and demand has soared despite much higher prices.
Semiconductor Shortages amid Record Semiconductor Sales? It’s a Mess Out There by Wolf Richter • Aug 30, 2021 • 138 Comments The explosion of demand that cannot be filled in the most monstrously overstimulated economy and markets ever.
THE WOLF STREET REPORT: Free Money and the Shortages by Wolf Richter • Aug 29, 2021 • 151 Comments Enough consumers, flush with free money, suddenly eager to pay those high prices, particularly for big-ticket items they didn’t have to buy. Magic Mix.
Port Congestion, Spiking Container Rates, Backlogs, Chaos: The Peak Shipping Season from Hell is Here by Wolf Richter • Aug 28, 2021 • 98 Comments Getting ready for the holiday selling season.
Flush with Free Money, Americans Spent Heroic Amounts, but Inflation Ate it Up by Wolf Richter • Aug 28, 2021 • 151 Comments Pay More, Get Less. Spending on durable goods after inflation down 10% from historic spike. But services surged, pointing to next source of inflation.
Powell Uses 1970s Inflation Spiral to Show How “Temporary” Becomes Persistent, as Fed’s Lowball Inflation Measure “Core PCE” Jumps Most since 1991 by Wolf Richter • Aug 27, 2021 • 101 Comments His “taper” discussion — tapering starts this year — got all the attention, but his focus was on inflation.
Supreme Court Sacks CDC Eviction Ban by Wolf Richter • Aug 27, 2021 • 236 Comments The extra $300 a week in federal unemployment benefits, on top of state UI, were designed to give people enough money to pay rent.
Korea & Iceland Kick off Rate-Hike Cycle in Developed Economies after Shock-and-Awe Rate Hikes in Russia, Brazil by Wolf Richter • Aug 26, 2021 • 88 Comments Soaring home prices have become a thorny political issue for Korea’s government, facing a frustrated and angry middle class.
The Most Monstrously Overstimulated Economy & Markets Ever by Wolf Richter • Aug 25, 2021 • 160 Comments The Fed will trim back its stimulus, but it’s already too late, and it’ll be too little and too slow.
