Consumer Spending on Services Keeps up with Raging Inflation in Services. Spending on Goods Falls as Prices Drop, Demand Fizzles after Pandemic Binge by Wolf Richter • Jan 27, 2023 • 88 Comments Raging inflation is a tough nut to crack for income.
Services PCE Price Index Spikes, But Goods PCE Price Index Falls as Energy Prices Plunge: Core PCE Re-accelerates by Wolf Richter • Jan 27, 2023 • 80 Comments Services inflation is tough to stamp out, and it has taken over inflation. Powell will be talking about it.
No Landing Yet: Consumers Refuse to Give Up, Government Spending Jumps, Inventories Rise toward Trend, Trade Deficit Less Horrible by Wolf Richter • Jan 26, 2023 • 114 Comments Annual GDP for 2022 rose at average pre-pandemic rate, strong second half, weak first half. “Freak event” that sunk Q1 GDP completely unwound.
Bank of Canada: “We’re Pausing to Assess Whether We’ve Done Enough,” Hikes by 1/4% to 4.5%, QT Continues by Wolf Richter • Jan 25, 2023 • 97 Comments Will pause if inflation projections pan out. If not, more rate hikes on the table. Frets about upside risks to inflation from services, labor market, China
What’s Behind the Tech & Social Media Layoffs? by Wolf Richter • Jan 25, 2023 • 114 Comments Drunk with Easy Money, companies were hogging office space and workers for a future that did not come.
“Wetsuit Shaming,” LOL: WOLF STREET Drags WSJ Through San Francisco Bay Mud for the Clickbait Flotsam it Published about Cold-Water Swimming by Wolf Richter • Jan 24, 2023 • 114 Comments Kudos to the Wall Street Journal for having excelled once again with such acuity.
How Many People Were Actually Laid Off So Far in San Francisco and Silicon Valley? by Wolf Richter • Jan 24, 2023 • 85 Comments The WARN filings, by company.
Subprime Auto-Loan Delinquencies Rise to 2019 Levels: a Dive into Subprime Lending and Securitizations by Wolf Richter • Jan 23, 2023 • 67 Comments Surge of delinquencies not caused by unemployment, but by taking Big Risks, hoping for Big Profits, and getting slapped, just as in 2019.
THE WOLF STREET REPORT: What’s Behind the Mass Layoffs in Tech & Social Media by Wolf Richter • Jan 22, 2023 • 151 Comments Drunk with Easy Money, companies were hogging office space and workers for a future that did not come.
Prices of Existing Homes Fall 11% from Peak. Sales Hit Lockdown Low. Cash Buyers and Investors Pull Back Hard by Wolf Richter • Jan 20, 2023 • 302 Comments Priced right, any home will sell. But sellers are not wanting to price their homes right.
