The Fed’s Liabilities under QT: November Update by Wolf Richter • Nov 27, 2022 • 105 Comments Total liabilities dropped by $344 billion since QT began. Big shifts between liabilities: reserves already plunged by $1.12 trillion.
Consumer Bankruptcies, Foreclosures, Delinquencies, and Collections: Free Money Still Doing the Job by Wolf Richter • Nov 25, 2022 • 227 Comments Powell said many times consumers can take tightening because loan distress is at historic lows. What consumers cannot take for long is raging inflation.
I Asked What it Would Take to Get Gen Z Back to the Office: “Private Offices, Man. Microsoft Gives Them to Everybody” by John McNellis • Nov 24, 2022 • 226 Comments What? Old-school offices work better than WeWork playpens? Reinstalling private offices in the growing legions of ghost buildings may be worth a try.
Massive Cancellations Make Mess of Already Low New-House Sales. Inventory Glut at Deep Housing Bust 1 Level. Buyer Traffic Plunges by Wolf Richter • Nov 23, 2022 • 145 Comments Another thing: inflation. Just when you thought the construction-cost spike was abating, it hit a new record.
Lose $1.7 billion on $519 Million in Revenue? Bitcoin Miner SPAC Core Scientific Shows How. Bankrupt a Year after Going Public? by Wolf Richter • Nov 23, 2022 • 151 Comments Consensual hallucination was required to pull this off.
Investor Purchases of Single-Family Houses Plunged 32% in Q3, Plummeting the Most in “Pandemic Boomtowns” by Wolf Richter • Nov 22, 2022 • 132 Comments “The prospect of substantial home-price declines puts them at risk of losing money.”
I Agree: Don’t Regulate Crypto, Let it Burn. Making Good Progress on its Own by Wolf Richter • Nov 21, 2022 • 350 Comments By letting it burn, it won’t get big enough to cause major contagion outside of crypto.
The Most Splendid Housing Bubbles in Canada, November Update: Fastest 5-Month Plunge on Record by Wolf Richter • Nov 19, 2022 • 99 Comments Down faster during the bust than up during the bubble: a special feature in some cities. Vague humor wafts around the charts.
Inflation Makes Mess in Japan, Batters Yen. BOJ’s Kuroda Clings by His Last Fingernail to “Transitory” by Wolf Richter • Nov 18, 2022 • 78 Comments But he’ll be out in April.
Home Sales Plunge, Investors Pull Back Too, Prices Drop 8.4% in 4 Months, Active Listings & Price Cuts Rise Further by Wolf Richter • Nov 18, 2022 • 170 Comments Sellers are struggling with denial: Priced “right,” a home will sell, but “right” is where the buyers are, and they’re a lot lower.
