Hangover Time for Used-Vehicle Dealers. For Buyers, Patience Will Pay Off by Wolf Richter • Jan 16, 2023 • 168 Comments Cutting prices on dropping unit sales causes revenues to plunge.
Can the Government Pay for its Spiking Interest Expenses? Time to Look at Interest Payments against Tax Receipts by Wolf Richter • Jan 14, 2023 • 180 Comments Inflation is an enemy of the people, but it’s a friend of government recklessness.
Despite Losses since September, the Fed Still Made a Profit for the Whole Year 2022, Remitted $76 billion to US Treasury Dept. by Wolf Richter • Jan 13, 2023 • 91 Comments But for Treasury, the gravy train has ended: Fed released preliminary info on interest income, interest expense, other expenses, profit, and dividends.
Bank of England Sold All Bonds it Bought Last Fall amid Pension Crisis, First Big Central Bank to Sell Government Bonds Outright by Wolf Richter • Jan 12, 2023 • 110 Comments At first in baby steps, and then in big chunks. Remember the “pivot to QE” mongers at the time? What a hoot.
Services Inflation Spikes to 4-Decade High. CPI for Gasoline & Durable Goods Plunge by Wolf Richter • Jan 12, 2023 • 213 Comments Services are nearly two-thirds of consumer spending. That’s where inflation is now raging. The Fed has been talking about services for months.
Dip in Mortgage Rates Not Slowing Housing Bust 2: Mortgage Lenders Sing the Blues by Wolf Richter • Jan 11, 2023 • 241 Comments It just keeps getting worse.
Coinbase CEO Still among those “Who Believe in Crypto,” the Religion, Cuts another 25% of Real-World Staff, Sees another Huge Loss by Wolf Richter • Jan 10, 2023 • 118 Comments It has $3.6 billion in real-world debt. The bonds crashed, the stock imploded, reality keeps biting the crypto world.
Are Tech Layoffs in San Francisco and Silicon Valley the Latest Hit to Bay Area Rapid Transit (BART)? by Wolf Richter • Jan 9, 2023 • 100 Comments BART was already “facing a fiscal cliff” after working from home and driving to work caused revenues to collapse.
Wild Ride of US Auto Sales in 2022 below 1977. Charts for GM, Toyota, Ford, Stellantis, Hyundai-Kia, Honda, and Nissan oh Dear by Wolf Richter • Jan 8, 2023 • 201 Comments Who got chips and who didn’t: Hyundai-Kia sales near all-time high in 2022, Honda’s sales collapsed.
Euro Inflation without Energy Hits Record, Services CPI Hits Record. Subsidies, Drop in Energy Push Down Overall CPI by Wolf Richter • Jan 6, 2023 • 81 Comments The ECB reacts to raging inflation, unloads a massive chunk of assets, hikes rates.
