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.
Eurostar Near Collapse, Asks for Bailout, Becomes Hot Potato by Nick Corbishley • Jan 23, 2021 • 135 Comments Traffic down 95%. To run out of money by April.
Massive Inflation in Shipping Costs. And the Reasons by Wolf Richter • Jan 16, 2021 • 145 Comments Rates for trucking, ocean containers, airfreight, parcels, you name it, the costs for shipping consumer & industrial goods are surging.
Update on the WTF Collapse of Gasoline & Jet Fuel Consumption: The Holiday Period by Wolf Richter • Jan 8, 2021 • 120 Comments Long-term structural issues have long dogged these fuels. Then came the Pandemic.
The Amazon Empire Beefs Up its Logistics Juggernaut by Wolf Richter • Jan 5, 2021 • 101 Comments Wall Street loves conglomerates that are oligopolies or, better, monopolies — companies with a “wide and long-lasting moat,” as Buffett said.
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.
Flying During Christmas Travel Period? Still in Collapse Mode by Wolf Richter • Dec 28, 2020 • 147 Comments But don’t fear for airline shareholders & creditors; they get to benefit from another $15 billion via “Taxpayer Capitalism.”
Railroads Slashed Jobs Again in Nov, to Lowest in Many Decades, Traffic Down 17% since 2006, Stocks Soared to Record High by Wolf Richter • Dec 24, 2020 • 74 Comments Railroads responded to structural challenges by slashing jobs. Did nothing for volume but did everything for their stocks.
Holy-Cow Spikes in China-US Container Freight Rates & US Consumer Spending on Goods Trigger Mad, Possibly Illegal Scramble for Empties. US Farmers Twist in the Wind by Wolf Richter • Dec 20, 2020 • 135 Comments US Federal Maritime Commission investigates container carriers’ “abandonment” of American agricultural industry. Weirdest Economy Ever.
