Picture Emerges of Weird Recovery to Historically Awful Level by Wolf Richter • Nov 6, 2020 • 107 Comments Jobs not galore. And the target keeps moving.
Do We Really Need More Stimulus to Print More Millionaires & Billionaires, Enrich Fraudsters, Balloon the Trade Deficit? Consumer Data Says, “No We Don’t” by Wolf Richter • Oct 30, 2020 • 203 Comments People who need support, should get support. As for the rest? On my soapbox, wildly wagging consumer income and spending data.
No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP by Wolf Richter • Oct 29, 2020 • 67 Comments GDP back to Q1 2018. Worst ever “net exports.” The decline in government spending was also a drag. “GDP per Capita” bounced back only to 2017 level.
Americans Are Super-Gloomy About Holiday Spending, But Industry Ramps Up for Blockbuster Christmas by Wolf Richter • Oct 27, 2020 • 183 Comments Something is afoot here. And someone is going to be wrong.
Housing Market Goes Nuts, Everyone Sees it, But it Can’t Last by Wolf Richter • Oct 23, 2020 • 307 Comments There’s a housing shortage until there’s suddenly a housing glut: see San Francisco et al.
Down-to-Earth View of the “Recovery” in Near-Real Time, Eight Months into the Pandemic by Wolf Richter • Oct 21, 2020 • 112 Comments As seen by indicators that have sprung up as a result of the Pandemic.
“Creative Destruction” or Just “Destruction?” by Wolf Richter • Oct 21, 2020 • 119 Comments Under the effects of the Pandemic, consumers and businesses grapple with their own “Reset.”
Trucking, Container Carriers, FedEx, UPS, Other Freight Firms Warn of “Capacity Shortage,” Expect Americans to Keep Splurging Despite Jobs Crisis by Wolf Richter • Oct 19, 2020 • 134 Comments Better produce a big-fat stimulus bill pronto and keep eviction bans and forbearance going, or else these companies will face economic reality.
Stimulus & Debt-Deferral Economy: Americans Splurged. Huge Price Increases Boosted Auto Sales. Liquidation Sales Pumped up Department Stores by Wolf Richter • Oct 16, 2020 • 154 Comments Depicted by my 13 whiplash-charts.
Crazy Times Not Only for Consumers Trying to Buy a Used Car but also for Dealers Grappling with the Distortions by Wolf Richter • Oct 13, 2020 • 82 Comments Retail prices of used cars & trucks spiked most since 1969 despite lower sales and plenty of supply. Wholesale prices, after biggest spike ever, are already falling.
