by Wolf Richter • • Comments Off on The Last Two Times This Happened, The Stock Market Crashed
It happened in 2000 and in 2007. With spectacular consequences. Now, it happened again. And hidden beneath the blue-chip highs, parts of the market are already crashing.
by Wolf Richter • • Comments Off on Housing in Six Cities in the West
That’s how it always starts: with a deadly mix. Home sales are collapsing while inventories are soaring in six housing markets that had been white-hot just a few months ago.
by Wolf Richter • • Comments Off on This chart is a hair-raising picture of Canadian home prices that makes the torrid excesses of the US housing bubble look banal
The gap between Canadian and US home prices is at an all-time record, with prices in Canada now 66% higher than in the US. And risks are piling up.
by Wolf Richter • • Comments Off on Putin Parties With German Ex-Chancellor, Sanctions Be Damned
Putin is a master at this game. Even as the sanction spiral is supposed to strangle his ambitions for the Ukraine, he set up a photo op of incomparable ingenuity. And his confidant, ex-Chancellor of Germany Gerhard Schröder stepped in it with gusto.
by Wolf Richter • • Comments Off on Who Is Getting Crushed in This Bull Market?
By now, this wondrous bull market constantly gets benchmarked against the dotcom bubble. It’s different this time, we’re told, even on NPR. But the wholesale destruction of financial assets has already started, one pocket at a time.
by Don Quijones • • Comments Off on Liars, Damned Liars, and Spanish Banks
By Don Quijones: “Spain’s banks are back on track,” the Spanish Banking Association announced to great fanfare. That’s the official story. But these banks reported financial results that “bear no relation to reality.”
by Wolf Richter • • Comments Off on Japanese Doomsday Machine Socks It To The Middle Class (But Shorting JGBs Remains A Terrible Idea)
The miracles performed by Abenomics – an economic religion touted with blinding exuberance around the world – and the endless wonders performed by the Bank of Japandemonium, are now coming home to roost.
by David Stockman • • Comments Off on Wall Street’s “Escape Velocity” Hoax
Q1 GDP growth is trending at a tepid 1.5%. But don’t worry. It’s the weather! Wall Street is predicting “escape velocity” for the fifth spring-summer in a row. Why? Because it’s already priced into the stock market!
