The Incredibly Ballooning US Government Debt Spikes by $1 Trillion in 15 Weeks to $34 Trillion by Wolf Richter • Jan 2, 2024 • 178 Comments Interest payments threatening to eat up half the tax receipts may be the only disciplinary force left to deal with Congress.
Tesla’s Deliveries in 2023 Jump 38% YoY, Rivian’s 146%, while Ford & GM Are Tangled Up in Anti-EV Revolts by their Dealers by Wolf Richter • Jan 2, 2024 • 114 Comments Tesla has always been willfully lousy in reporting delivery details. Today it made the obfuscation worse.
Status of US Dollar as Global Reserve Currency and USD Exchange Rates: Long, Slow, Uneven Decline Continues by Wolf Richter • Jan 1, 2024 • 104 Comments China’s renminbi keeps losing ground, after initial progress. But the tiny “other” reserve currencies combined are taking share from the USD.
Stock Markets Years & Decades after Huge Bubbles Imploded: China, Hong Kong, Japan, UK, France, Germany, Italy, and Spain by Wolf Richter • Dec 31, 2023 • 146 Comments This cannot possibly happen to US markets because US markets are special?
This Was a Funny Two Years in the Stock & Treasury Markets by Wolf Richter • Dec 29, 2023 • 109 Comments S&P 500 still down from 2 years ago, Nasdaq back to Aug 2021, small caps back to 3 years ago, but the Mag 7 blew out.
Mortgage Rates Dropped a Lot but Clearly Not to the Magic Level. Buyers’ Strike Continues. Issue Is Price by Wolf Richter • Dec 28, 2023 • 182 Comments A similar drop in mortgage rates a year ago to even lower rates didn’t turn up sales volume either – on the contrary.
ECB Balance Sheet QT: -€1.94 Trillion from Peak, down to €6.9 Trillion. Shed 47% of Pandemic QE Assets by Wolf Richter • Dec 28, 2023 • 44 Comments Quantitative tightening powers along in the euro area.
Cleaning Up the SPAC Mess after Consensual Hallucination: Bankruptcies, Imploded Stocks, and Lawsuits. Lots of Cleanup Left to Do by Wolf Richter • Dec 27, 2023 • 103 Comments But it was so much fun while it lasted?
The Most Splendid Housing Bubbles in America, December 2023 Update by Wolf Richter • Dec 26, 2023 • 219 Comments Down from 2022 highs: San Francisco -12%, Seattle -11%, Portland -6%; Denver, Phoenix, Las Vegas -5%; Dallas -4%, San Diego -2%, Los Angeles -1%. But new highs in 8 metros.
QE Giveth, QT Taketh Away: German Home Prices Tank as ECB’s Balance Sheet Drops by €1.85 Trillion by Wolf Richter • Dec 24, 2023 • 82 Comments Biggest home-price drops in the data going back to 2000 triggered by the biggest QT and highest rates in ECB history.
