The historic short squeeze, engineered by a bunch of deeply cynical small traders, exposed just how rigged the market has been (transcript of my podcast).
“There is no justification” for continuing the purchases of mortgage-backed securities. The Fed is “misdiagnosing its impact on the housing market.” Pressure rises on the Fed to back off, in face of market craziness.
GM, Toyota, Ford sales down 5th year in a row. Nissan in a death spiral. The Pandemic accelerated what had started in 2016. Long-term view on auto sales.
