Remember Headlines 2 Weeks Ago, Labor Market “Suddenly” Weakens as Unemployment Claims “Spike”: It just Got Unwound by Wolf Richter • May 23, 2024 • 78 Comments Our Favorite Recession Indicator shows next recession keeps moving further out.
Yellow Files for Bankruptcy and Liquidation. CEO Blames Teamsters in Stunning Detailed Announcement by Wolf Richter • Aug 7, 2023 • 178 Comments “All workers and employers should take note of our experience with the International Brotherhood of Teamsters and worry.”
How Far Will Commercial Real Estate Values Have to Drop to Start Making Sense? by John McNellis • Jul 31, 2023 • 101 Comments Some asset classes, notably industrial and self-storage, have scarcely declined at all. Others, having flown too close to the sun, have plunged into the sea.
Trucker Yellow Shuts Down, to File for Bankruptcy, 3 Years after $700-Million Government Bailout that Stank to High Heaven by Wolf Richter • Jul 29, 2023 • 158 Comments Executive officers, directors, and Teamsters benefited from the bailout. So get it over with, finally.
Third Wave of Hotel CRE Defaults Has Started, Triggered by CMBS Maturities and Variable-Rate Mortgages by Wolf Richter • Jul 11, 2023 • 121 Comments CMBS holders are on the hook, not banks. Investors in hotel REITs have gotten totally crushed.
Remember the Hullaballoo in December about “BLS ‘Overstated’ Jobs Growth by 1.1 million: Philadelphia Fed?” Oh Boy, Results Are In by Wolf Richter • Feb 4, 2023 • 84 Comments This is how the internet works. Someone comes up with a meme, and it takes on a life of its own. I’m going to have some fun with it.
The Most Astounding IPO Hype-and-Hoopla Show Ever Ends 2022 in Tears by Wolf Richter • Dec 26, 2022 • 87 Comments “The value of discipline is currently at an all-time high,” after years when the value of consensual hallucination was at an all-time high.
Mortgage Bankers Predict Mortgage Rates to Drop to 5.4% by End of 2023. A Year Ago, They Forecast 4% by Now, but Now We’re at 7%. Wishful Thinking by Crushed Mortgage Lenders? by Wolf Richter • Oct 24, 2022 • 172 Comments This raging inflation will keep dishing up a lot more surprises.
This Labor Market Still Defies any Slow Down: Layoffs, Quits, Job Openings, and Hires by Wolf Richter • Aug 30, 2022 • 116 Comments Historic-low layoffs, astronomical job openings, aggressive hiring, massive churn & job hopping: Weirdest labor market ever.
GDP Sunk by Plunge in Private Investment, Drop in Government Spending. Consumer Spending Rose Despite Raging Inflation by Wolf Richter • Jul 28, 2022 • 225 Comments What Powell had indicated: Consumers hung in there, amid strong labor market, surging wages. But private investment plunged, incl -14% in residential.
