Buyers from China are the most prolific, spending 72% more than a year ago! On expensive homes. They benefit from the devaluation of the dollar – according to the NAR – and are desperate to get their money out of China.
Orders for capital equipment – a measure of future capital expenditures and a feverishly awaited sign that Japan Inc. has finally started investing in Japan rather than just overseas – were “shocking.”
FICO: “That doesn’t feel like a healthy, sustainable growth situation.” Lenders fret “about the risk in mortgages” as consumers return to “reckless borrowing.”
by Wolf Richter • • Comments Off on Saber-Rattling Between Japan, China, and RUSSIA of all things Hits Record
The Japanese Defense Ministry refused to speculate why Russian activity had suddenly soared, just when both countries are trying to hash out a mega-energy deal.
Senior bankers are “privately warning” that the record bank lending binge “should not be seen as evidence of an economic recovery.” Instead, they’re fretting about the greatest credit bubble in history.
by Wolf Richter • • Comments Off on “If This Ends Badly, How Will Such Reports Be Read In Hindsight. Mad?”
Stocks soaring worldwide for years despite disappointing growth or outright recessions has turned rational investors into financial mincemeat. So here’s BofA’s cynicism on that phenomenon.
Many Americans spend every dime they make, and usually way beyond what they make. It’s not because they have confidence in the economy. They don’t! The gap in consumer confidence between these folks and those with higher incomes is at an all-time record!
by Wolf Richter • • Comments Off on Whatever You Do With A Tesla, Don’t Wrap It Around a Lamppost
The nightmare for Tesla started when a stolen S, as it crashed, split into two, with one half bursting into flames. This just isn’t supposed to happen with modern cars.
