Subprime Auto-Loan Delinquencies, Loan Deferrals & Stimulus Curdle into Curious Phenomenon by Wolf Richter • Sep 13, 2020 • 136 Comments In the bizarre machinery of an economy that depends on consumer spending funded by stimulus and “extend and pretend.”
On Fumes of Stimulus: California Starts Sending Out $900 Lump-Sum FEMA-Funded Unemployment Payments on Labor Day by Wolf Richter • Sep 7, 2020 • 152 Comments Most states are also rolling it out. On top of other stimulus programs and housing payment deferrals via eviction bans & mortgage forbearance
Twisted Picture of a Consumer Economy Running on Fumes of Stimulus by Wolf Richter • Aug 28, 2020 • 189 Comments Incomes from wages, interest, and dividends sagged from pre-Pandemic era. But stuffed with stimulus, Americans broke records splurging on Goods, as spending on Services, the biggie, lagged far behind.
The Rich Got Richer During the Pandemic, Bailed Out by the Fed. How it Happened and Why That’s Bad for the Economy by Wolf Richter • Aug 19, 2020 • 174 Comments Over 30 million people lost their jobs while the wealth of America’s 600-plus billionaires ballooned by $434 billion, to $3.4 trillion.
Ecommerce Sales Spike 44% in Q2: Even Groceries, Building Materials, Garden Supplies, and Furniture by Wolf Richter • Aug 18, 2020 • 64 Comments The Pandemic Economy Massively Changed How Americans Buy Stuff.
Fired up by Stimulus Money & Debt Deferrals, Americans Went Shopping. But Where? How Life Changed During the Pandemic by Wolf Richter • Aug 14, 2020 • 195 Comments In 12 Whiplash-Inducing Charts.
Dollar’s Purchasing Power Drops to Lowest Ever. Inflation Heats Up, as Fed Wants, After Simultaneous Supply & Demand Shocks by Wolf Richter • Aug 12, 2020 • 186 Comments “We’re not even thinking about thinking about” slowing the decline of the dollar’s purchasing power — and thereby labor’s purchasing power.
The State of the American Debt-Slaves Q2 2020: The Credit Card Phenomenon by Wolf Richter • Aug 9, 2020 • 136 Comments Consumer debt to GDP spikes, but why did credit card balances plunge and new delinquencies decline?
No Payment, No Problem: Bizarre New World of Consumer Debt by Wolf Richter • Aug 7, 2020 • 255 Comments All kinds of weird records are being broken. But it’s scheduled to expire, and then what?
Nobody Knows How to Ever Get Out of This Mess by Wolf Richter • Jul 30, 2020 • 213 Comments “Extend and Pretend” forevermore. Transcript of my podcast.
