What an Ugly Year for Manhattan Luxury Condos & Co-ops, But the Market Came Unglued in 2016 by Wolf Richter • Dec 25, 2020 • 172 Comments “It was more drama than any market could withstand as Manhattan sellers started slashing prices.”
Railroads Slashed Jobs Again in Nov, to Lowest in Many Decades, Traffic Down 17% since 2006, Stocks Soared to Record High by Wolf Richter • Dec 24, 2020 • 74 Comments Railroads responded to structural challenges by slashing jobs. Did nothing for volume but did everything for their stocks.
Majestic Overshoot of Stimulus Money Ended. Faced with Second Wave, Americans Cut Back, Even on Durable Goods by Wolf Richter • Dec 23, 2020 • 187 Comments Consumers still earned more in November than in the Good Times, but a lot less than back when free Pandemic-money was massively hailing down.
Housing Market Goes Crazy, Everyone Sees It Can’t Last, and then the First Dip Appears by Wolf Richter • Dec 22, 2020 • 235 Comments There is already a sudden and historic housing glut in San Francisco.
Another Piece of the Puzzle of Plunging Credit Card Balances by Wolf Richter • Dec 21, 2020 • 161 Comments Consumers cut back on applying for credit cards, and the Fed is not amused.
Holy-Cow Spikes in China-US Container Freight Rates & US Consumer Spending on Goods Trigger Mad, Possibly Illegal Scramble for Empties. US Farmers Twist in the Wind by Wolf Richter • Dec 20, 2020 • 135 Comments US Federal Maritime Commission investigates container carriers’ “abandonment” of American agricultural industry. Weirdest Economy Ever.
Who Holds the $1.65 Trillion of Apartment Building Debt amid Eviction Bans and Plunging Occupancy Rates at High Rises? by Wolf Richter • Dec 18, 2020 • 186 Comments You guessed it: For over half of it, taxpayers are on the hook. Time to take a look.
Biggest Share Buyback Queens in Q3: Tech and Buffett. The Banks Are Gone. But Share Buybacks Plunged 42% YoY by Wolf Richter • Dec 17, 2020 • 151 Comments Funded with debt: Share buybacks totaled $5 trillion since 2012. Over same period, corporate debt soared by $4.5 trillion.
Where Americans Splurged & Where They Cut Back in 13 Whiplash-Charts by Wolf Richter • Dec 16, 2020 • 149 Comments Stimulus Fatigue sets in. Second month of declining retail sales in a row. But online sales eked out a new record, if barely.
Congress to Pass $17 Billion Bailout of Airline Shareholders & Bondholders, to Top Off Prior Bailout. Industry Applauds, Airline Stocks Jump by Wolf Richter • Dec 15, 2020 • 161 Comments Top 4 airlines burned $45 billion on share buybacks since 2012. If airlines run out of money, Chapter 11 bankruptcy works. Airlines proved it.
