The Most Splendid Housing Bubbles in Canada: After a Rocking & Rolling BoC-Pause Season, the First Price Drops Reappear by Wolf Richter • Aug 15, 2023 • 100 Comments Short-term yields spiked, and mortgage rates with them: First results of the Bank of Canada’s unpause on the housing market.
Drunken Sailors Partying Hard: Retail Sales Jump despite Cooling Inflation in Goods that Retailers Sell by Wolf Richter • Aug 15, 2023 • 128 Comments They partied most at Restaurants & Bars, and at ecommerce retailers. If I hear one more time consumers are “tapped out,” I’m going to scream.
What Consumers Earn in Interest Income vs. What they Pay in Interest Expense by Wolf Richter • Aug 14, 2023 • 174 Comments One reason why the drunken sailors are in no mood to slow down. Lots of them make a lot more money on T-bills, CDs, money-market funds. Others pay more.
Freight Recessions Crush Teetering Trucking Companies. This Time, Yellow. And the Freight Recession Continues by Wolf Richter • Aug 14, 2023 • 59 Comments Prolonging the downturn of for-hire truckers is the growth of private fleets, such as Walmart’s and Amazon’s which eat into their share.
Consumer Foreclosures, Bankruptcies, Delinquencies, and Collections: Checking on the Hangover of our Drunken Sailors by Wolf Richter • Aug 12, 2023 • 153 Comments Not much of a hangover yet. Going to see more of these frying-pan charts
Full Commercialization of Robotaxis Arrives in San Francisco by Wolf Richter • Aug 11, 2023 • 278 Comments Not everyone is happy.
End of “Disinflation” Honeymoon: CPI Accelerates YoY. Core Services CPI Accelerates MoM. Durable Goods Prices Normalize at Nosebleed Levels by Wolf Richter • Aug 10, 2023 • 180 Comments Core services inflation at 6.1% year-over-year; Core CPI at 4.7%. Three factors make it rough for CPI the rest of the year.
A Word about the Odious Ridiculous Massive Adjustments to Health Insurance CPI, which Now Collapsed to Jan 2019 Levels by Wolf Richter • Aug 10, 2023 • 133 Comments It turned Medical Services CPI negative, pushed down core services CPI, core CPI, and overall CPI. But it will swing the other way in October.
Mortgage Rates Jump to Holy-Moly 7.09%, FHA Rates to Highest in 20 Years, Pulling Rug Out from Under Home Sales in August by Wolf Richter • Aug 9, 2023 • 176 Comments Mortgage applications to purchase a home: -40% from 2022 and 2019, 3rd worst week since 1995, behind only two weeks in February.
The Collapse of the EV SPACs: Another One Goes Bankrupt, Others on the Verge by Wolf Richter • Aug 9, 2023 • 146 Comments The SPAC boom will surely go down in history as one of the biggest stock-market heists ever, made possible by Consensual Hallucination.
