San Francisco Bay Area House Prices Plunge 30% from Crazy Peak: Housing Bust 2 by Wolf Richter • Jan 19, 2023 • 201 Comments Hammered by waves of layoffs, swooning stocks, collapsing cryptos, and 6% mortgage rates.
Falling Prices of Goods Push Down Retail Sales (as Inflation Shifted Massively to Services) by Wolf Richter • Jan 18, 2023 • 83 Comments Not seasonally adjusted, and despite the price drops, total retail sales and ecommerce sales hit records.
The Most Splendid Housing Bubbles in Canada, January Update: Prices Plunged, Housing Bust Gets Real by Wolf Richter • Jan 17, 2023 • 122 Comments He who panicked first, panicked best? Some charts are just kind of funny.
Natural Gas Futures in Europe Plunge 15% Today, Down 84% from Crazy Spike by Wolf Richter • Jan 16, 2023 • 87 Comments LNG Glut in China, suddenly?
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.
