This Inflation is Stuck, Churns from Product to Product: Core PCE Price Index Moves Sideways for 9 Months, Stubbornly High Near 5%. To Top it Off, February Was Revised Higher by Wolf Richter • Apr 28, 2023 • 231 Comments It’s just not encouraging at all. Inflation is just shifting around.
Fed’s Balance Sheet Plunges $171 Billion in Five Weeks since Peak Bank Bailout as QT Continues and Liquidity Support Cools by Wolf Richter • Apr 27, 2023 • 156 Comments First Republic, is this you?
Spring Selling Season Already Goes to Heck, Pending Home Sales Plunge. Banking Crisis to Blame? by Wolf Richter • Apr 27, 2023 • 101 Comments A harbinger for closed sales in April and May.
Consumers, Governments Spent like Drunken Sailors in Q1. Private Investment Plunge & Inventory Change Dogged GDP by Wolf Richter • Apr 27, 2023 • 71 Comments Americans came out of their funk they’d been in late last year. They’re 70% of GDP. They blew money left and right; spending on durable goods spiked!
What Are We Going to Do with All these Unicorns? by Wolf Richter • Apr 26, 2023 • 91 Comments Another Easy-Money hangover.
And if the Most Clamored-for Recession Ever Fails to Appear? How a Higher Inflation Target Would Hit Markets, Banks’ Exposure to CRE, Blowups of Subprime Auto Dealers-Lenders… by Wolf Richter • Apr 26, 2023 • 61 Comments And other Goodies. Wolf Richter on This Week in Money.
The Most Splendid Housing Bubbles in America, April Update: Year-over-Year Price Drops Worsen in San Francisco, Seattle, San Diego, Portland, Las Vegas, Phoenix, Los Angeles, Denver by Wolf Richter • Apr 25, 2023 • 254 Comments Even Miami lost ground. Spring selling season is a dud so far. And the banking crisis hasn’t even made it into the data yet. That’s still to come.
First Republic Discloses it’s a Zombie by Wolf Richter • Apr 24, 2023 • 126 Comments Shares, after jumping 12% during the day in anticipation of something wonderful, plunged 22% after-hours, now within a hair of the low in March.
After Wasting $11.6 billion on Share Buybacks (“Return Value to Shareholders” LOL), Meme-Stock Pump-n-Dump Bed Bath & Beyond Goes Bankrupt, Will Liquidate by Wolf Richter • Apr 23, 2023 • 176 Comments Brick-and-Mortar Meltdown Continues. Revenues Collapsed by 55% since 2017: Share buybacks and Ecommerce killed it.
I Love How Tesla Wreaks Havoc among Automakers with Massive Price Cuts, Huge Sales Growth, Even Huger Production Growth, and Overcapacity by Wolf Richter • Apr 22, 2023 • 317 Comments Shareholders hate it. It’s bitter medicine for the industry that pushed upscale and jacked up prices so average Americans can no longer buy new vehicles.
