Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.
Make that $6.55 for regular at my San Francisco gas station from heck.
Used vehicle prices continue to back off from ridiculous spike. But drop in gasoline prices was “transitory,” as we’re now learning at the pump.
Credit card balances up 3.0% from 2019, CPI inflation up 13%, LOL. Auto sales plunged, but auto loans jumped. You guessed it, ridiculous price increases.
Wages Surged, But Raging Inflation Crushed the Purchasing Power of those Wages.
But wait a minute… crude oil futures are far below a record.
“Efforts to stockpile” input materials to counter price increases and shortages. But finished products inventories continued to fall.
Inventories are slowly recovering, but remain below where they should be.
The ECB created the greatest corporate bond bubble ever. Now junk bonds get crushed, yields already doubled, set to double again, and again, cleansing out the zombies.
Services PPI and Core PPI spike.