“Tesla only sold ~10%” of its Bitcoin Holdings: Musk Speaks, Bitcoin Moves. But it Takes Two to Tango by Wolf Richter • Jun 13, 2021 • 152 Comments Pump and dump just for the heck of it? Why can’t this dude just shut up? That’s what people, including the SEC, want to know.
Subprime Auto-Loan Delinquencies, Which Had Exploded, Plunged after Stimmies. These Folks Are Now on Buyers’ Strike by Wolf Richter • Jun 12, 2021 • 136 Comments Investors in subprime auto-loan Asset Backed Securities should be genuflecting in front of US taxpayers to thank them for the backdoor bailout.
Surging Inflation No Problem, Junk Bond Yields Drop to Record Low, Dish out Negative “Real” Yields to Fed-Whacked Investors by Wolf Richter • Jun 11, 2021 • 273 Comments The market is broken. “Raging mania” rules.
Cash Gone Nuts: Treasury General Account Drops to $674 Billion, as Fed’s Reverse Repo Cash-Drain Hits $534 Billion by Wolf Richter • Jun 10, 2021 • 93 Comments A massive source of liquidity is approaching peter-out moment.
It Gets Ugly: Dollar’s Purchasing Power Plunged at Fastest Pace since 1982. It’s “Permanent” not “Temporary,” Won’t Bounce Back by Wolf Richter • Jun 10, 2021 • 314 Comments But it’s a lot worse than it appears.
EVs Hit 8% Share in California’s Declining New-Vehicle Market: Shaking Up Legacy Automakers by Wolf Richter • Jun 9, 2021 • 180 Comments Tesla Model Y Blows doors off US bestseller Ford F-Series. But Tesla lost share within EV space against the giants it woke up.
Fed’s Reverse Repos Hit $503 Billion. Liquidity Drain Undoing over 4 Months of QE by Wolf Richter • Jun 9, 2021 • 144 Comments New York Fed’s Williams prepares markets for “technical adjustments” to the Fed’s “administered interest rates” to get a handle on this phenomenon.
Will Americans, Who’ve Spurned Cheaper Cars for Decades, Buy a Lower-Priced Baby “Truck?” I Don’t Know Either by Wolf Richter • Jun 8, 2021 • 202 Comments Americans love big expensive equipment. And cheap cars have fizzled. Ford, which threw in the towel on its cheapest cars, is trying again.
Job Openings Spike in WTF Style amid “Labor Shortages” while 15 Million People Claim Unemployment Benefits by Wolf Richter • Jun 8, 2021 • 171 Comments This messed-up labor market is finally producing rising wages. But companies are able to pass them on with higher prices: beginnings of an inflation spiral.
The Countries with the Most Monstrous Business Debts: US in 22nd Place Despite Massive Spike During the Pandemic by Wolf Richter • Jun 7, 2021 • 106 Comments China and the tax havens rule!
