I Now Track the Most Important Measure of the Fed’s Economy: the “Wealth Effect” and How it Impacts Americans Individually by Wolf Richter • Apr 12, 2021 • 333 Comments The Fed provides the data quarterly, I dissect it at the stunning per-capita level.
How the “Affordability Crisis” Migrated from High-Income Rental Markets, as Manhattan & San Francisco, to Lower Income Markets, as Detroit & Fresno by Wolf Richter • Apr 9, 2021 • 253 Comments The distortions caused by the shift to working from anywhere are hitting households that can least afford it.
Producer Prices Blow Out by Wolf Richter • Apr 9, 2021 • 212 Comments And companies have been reporting that they’re able to pass on those surging costs. So here we go with inflation.
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?
