Container Freight Rates Spike to New Extremes, up 500% for Asia-US, Asia-EU since Early 2020. Worse Still Ahead by Wolf Richter • Jul 9, 2021 • 212 Comments “Turns out it’s a heck of a lot easier to create demand than it is to bring supply up to snuff”: Jerome Powell
The Dollar’s Declining Status as Dominant “Global Reserve Currency” v. the Dollar’s Exchange Rate by Wolf Richter • Jul 5, 2021 • 208 Comments Nothing Goes to Heck in a Straight line, not even the dollar’s hegemony.
Just Keeps Getting Worse: Services Trade Surplus, the American Dream Not-Come-True, Falls to 9-Year Low, Total Trade Deficit Explodes to Worst Ever by Wolf Richter • May 4, 2021 • 261 Comments The promise of high-value services exports to rationalize globalization turned out to be fake.
The Power of Stimmies after Decades of Rampant Offshoring: Trade Deficit Hits Worst Ever, Duh by Wolf Richter • Apr 7, 2021 • 251 Comments Imports of goods soared, while the already small services surplus plunged to nine-year low.
Momentous Change in US Natural Gas with Global Impact as Exports Soar to Huge Record Despite Collapse in the Spring by Wolf Richter • Mar 15, 2021 • 86 Comments Biggest buyers: Mexico, South Korea, Japan, China, Spain, UK. Price spike in February, when Texas froze up, unwound. Asian LNG price spike in January is unwinding.
Consumers Paid Down Credit Cards Again! By Most Ever. But Cash-Out Refis Spiked to Highest since 2005/6 Peaks. What Gives? by Wolf Richter • Mar 5, 2021 • 172 Comments They’re not the same consumers.
The Growing Pains of Brexit, 50 Days In by Nick Corbishley • Feb 23, 2021 • 121 Comments The crucial services exports, manufacturing exports and imports, the arts & entertainment industry, fishing industry… it’s a mess.
US Trade Deficit in 2020 Worst since 2008, Goods Deficit Worst Ever Despite First Ever Petroleum Surplus. Services Surplus Drops Again by Wolf Richter • Feb 8, 2021 • 174 Comments But the Trade Fiasco with China was the least terrible since 2013.
Despite Terrible US Economy in 2020, Workers of Mexican Descent Sent Most Dollars Ever Back to Mexico by Nick Corbishley • Feb 4, 2021 • 91 Comments Against expectations, the feared plunge in remittances, as during the US Housing Bust, did not occur. For interesting reasons. Weirdest Economy Ever.
US Dollar as “Global Reserve Currency” amid Fed’s QE and US Government Deficits: Dollar Hegemony in Decline by Wolf Richter • Dec 31, 2020 • 299 Comments Other options also shaky. Central banks leery of Chinese RMB, its share still irrelevant. Euro’s share is stuck. But the yen’s share has been rising.
