Interest Payments on the Ballooning Federal Debt vs. Tax Receipts & GDP: Not as Bad as in 1982-1997, but Getting There by Wolf Richter • Nov 29, 2023 • 76 Comments Our drunken sailors in Congress better head to the detox.
Most Splendid Housing Bubbles in America, Nov. Update: From 2022 Highs, San Francisco -11%, Seattle -10%, Las Vegas -6%, Phoenix -6%, Portland -5%, Denver -5%, Dallas -5%, San Diego… by Wolf Richter • Nov 28, 2023 • 224 Comments 20-City index below 2022 high, 9 metros below 2022 highs, 10 metros set new highs. The unsavory “National” index cocktail in the headlines gets shredded.
Prices of New Houses Drop Further, -18% Year-over-Year, Sales Drop, High Inventories Rise Further, Supply Jumps by Wolf Richter • Nov 27, 2023 • 225 Comments Mortgage-rate buydowns, “smaller product footprints,” and “de-amenitizing” to bring down payments: D.R. Horton.
Money Market Funds, Large CDs, Small CDs All Surged: Americans Figured it Out by Wolf Richter • Nov 24, 2023 • 144 Comments Banks, forced by competition from money market funds, got the memo.
Lithium “Shortage” Bubble Implodes (Again), Price Collapsed 77% in a Year, as Demand and Production Both Surged by Wolf Richter • Nov 23, 2023 • 75 Comments Investors smell the money, billions are flowing, even in the US, which could become major lithium producer.
Even Higher for Longer if Markets Keep Fighting Central Banks, ECB’s Wunsch Explains. The Fed Has Same Problem by Wolf Richter • Nov 22, 2023 • 199 Comments “If the markets don’t infer from this that it’ll be high for longer, we’ll have to use our rate instruments and hike to get where we want to go.”
Home Sales Collapse, Prices Drop Further, Supply Jumps. People Are Finally on Buyers’ Strike by Wolf Richter • Nov 21, 2023 • 156 Comments Supply is coming back, demand is not. Prices are still way too high.
Rents in Canada Explode. Services Inflation Heats Up by Wolf Richter • Nov 21, 2023 • 97 Comments Plunging gasoline prices and dropping prices in a few other categories hold down overall CPI. A mess for the Bank of Canada.
“Leading Economic Index” Predicts Recession for Early 2024, after Having Predicted a Recession for Late 2022, Early 2023, Mid-2023, and Late 2023 by Wolf Richter • Nov 20, 2023 • 157 Comments And there’s Still No Recession!
Our Wall Street Crybabies Want the Fed to Stop QT, they Wag the Drop in Overnight RRPs that’ll Blow up the Banks or Whatever by Wolf Richter • Nov 19, 2023 • 121 Comments This crybaby stuff is just funny. So let’s have a look.
