Large-scale Gasoline Demand Destruction Hits Sky-High Prices in Peak Driving Season: Gasoline Consumption Drops to July 1999 Level by Wolf Richter • Jul 14, 2022 • 189 Comments Some demand destruction is behavioral and may bounce back; some is structural, growing, and long term: The decline of an industry.
US Dollar Exchange Rates and Inflation: What’s Next? by Wolf Richter • Jul 14, 2022 • 127 Comments The USD had a heck of a ride, which kept inflation from spiking even further. But it may not last much longer.
“Things Are Not Normal Right Now”: Bank of Canada Hikes by Monster 100 Basis Points, Hits Mortgages. So Might the Fed after US CPI Fiasco by Wolf Richter • Jul 13, 2022 • 214 Comments Blame whatever. Just don’t blame money-printing and interest-rate repression.
It Gets Ugly: Inflation Shifts to Services. Food, Fuel Spike Too. Dollar’s Purchasing Power Swoons. by Wolf Richter • Jul 13, 2022 • 236 Comments Oh dearie, the Fed is going to meet in late July, and it’s going to talk about services inflation.
Why Delivery Giants Walmart, Amazon, FedEx & UPS even Deal with Collapsing EV Startups: EV SPAC Canoo is the Latest by Wolf Richter • Jul 12, 2022 • 194 Comments Scaring legacy automakers into finally producing electric cargo vans is like pulling teeth.
Cash-Out Refis with Holy-Moly Mortgage Rates for Remodeling Projects? Professional Home Remodelers Face New Challenges by Wolf Richter • Jul 11, 2022 • 119 Comments Amid shortages, exploding prices, and long lead times, there are now the new realities of a turning housing market.
Leverage & Interconnectedness Are Blowing Up Crypto & DeFi by Wolf Richter • Jul 9, 2022 • 183 Comments That’s what’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected.
I Want to Add a Word about Ageism in this Bizarre Labor Market and How it Hits Labor Force & Unemployment Numbers by Wolf Richter • Jul 8, 2022 • 289 Comments And there was nothing in this jobs report to spook the Fed out of tightening.
Fed’s QT Kicks Off: Total Assets Drop by $74 Billion from Peak, New Era Begins by Wolf Richter • Jul 7, 2022 • 245 Comments QE creates money. QT does the opposite: it destroys money.
New Vehicle Sales in Russia Collapsed by 82% in June by Wolf Richter • Jul 7, 2022 • 84 Comments The top 10 brands in Russia and their struggles.
