Get Ready for a Wild “Base Effect”: Highlighted Forcefully when it Suits Them, as with Inflation; Silenced Forcefully When it’s Awkward, as with Corporate Earnings by Wolf Richter • Apr 8, 2021 • 122 Comments We’re going to be awash in huge and even absurd percentage-growth numbers.
Yellen Calls for Taxing Large Corporations on Puffed Up Earnings they Report to Shareholders, Which I Called for Years Ago by Wolf Richter • Apr 7, 2021 • 167 Comments The “minimum book tax” on reported earnings would be a tax incentive to produce realistic earnings reports. Wall Street will fight it furiously.
The Power of Stimmies after Decades of Rampant Offshoring: Trade Deficit Hits Worst Ever, Duh by Wolf Richter • Apr 7, 2021 • 251 Comments Imports of goods soared, while the already small services surplus plunged to nine-year low.
Bank of Canada Now Owns 40% of Government of Canada Bonds. Fed a Saint in Comparison. Taper on the Table by Wolf Richter • Apr 6, 2021 • 227 Comments “Makes you wonder if there’s a potential mid-QE-life crisis taking shape in Ottawa”: strategists at the National Bank of Canada in a note that would be hilarious if it weren’t so serious.
Office Slump Gets Ugly in Houston, San Francisco, Los Angeles, Manhattan, Chicago, Washington DC by Wolf Richter • Apr 5, 2021 • 120 Comments This isn’t a blip.
Prices Surge Broadly Across the Massive Service Sector and Companies Are Able to Pass On these Higher Prices by Wolf Richter • Apr 5, 2021 • 131 Comments The entire mindset has changed.
US National Debt Passes $28 Trillion, +$4.7 Trillion in 13 Months. General Treasury Account Down by $480 Billion in 2 Months, $620 Billion to Go by Wolf Richter • Apr 4, 2021 • 268 Comments What does it mean for the markets that the government now spends the proceeds from debt sales last spring that the Fed had monetized back then?
Stocks, Real Estate, Inflation, and Latest Blowup: All this Super-Leveraged Craziness Going on Looks Like a Market Peak to me, Sez Wolf Richter by Wolf Richter • Apr 3, 2021 • 243 Comments Video interview with Peak Prosperity.
QE During the “Everything Mania”: Fed’s Assets at $7.7 Trillion, up $3.5 Trillion in 13 months by Wolf Richter • Apr 2, 2021 • 172 Comments But long-term Treasury yields have surged, to the great consternation of our Wall Street Crybabies.
“Permanent Job Losers” No Better Off Than Last Summer. But Most of the 18 Million Job Losers on Temporary Layoffs Are Working Again by Wolf Richter • Apr 2, 2021 • 106 Comments Bringing back permanent job losers took years the last two times, and it hasn’t even started yet.
