Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

Wolf Richter

Guest's Website

On his site WOLFSTREET.com, Wolf Richter slices into economic, business, and financial issues, Wall Street shenanigans, complex entanglements, debacles, and opportunities that catch his eye in the US, Canada, Europe, Japan, and China. He lives in San Francisco.

HoweStreet.com Radio - Tulsa offers $10,000 to move there

Wolf Street - Retail sales in December fell for the third month in a row, on a “seasonally adjusted” basis, down 0.7% from November, to $541 billion, and down 2.1% from the peak in September, according to the Census Bureau this morning. And even without restaurants and bars – many of which were shut down in December – […]

Wolf Street - During the holiday shopping and travel period in December and early January, ten months into the Pandemic, gasoline consumption in the US was down about 12% from a year ago, jet fuel consumption was down 38% from a year ago, but distillate consumption – diesel, heating oil, fuel oil – was about flat with a […]

Wolf Street - Prices of single-family houses jumped 8.4% in the US, the biggest year-over-year jump since March 2014, according to the Case-Shiller Home Price Index for October, released today. The index is based on the “sales pairs” method, comparing the price of a house that sold in the current month to the price of the same house […]

Wolf Street - Consumers are starting to run out of artificial steam. The free Pandemic money has been dropping for months and in November nearly faded out. For the first time since April, consumers spent less all around; they spent less on services, nondurable goods, and even on durable goods, which had been spiking in astounding manner. Personal […]

Wolf Street - Retail sales in November fell 1.1% from October, the second month in a row of declines, and they even fell with restaurants and bars removed from the total. Sales at nonstore retailers, the placeholder for ecommerce, eked out a new record. This is the second month now of what I called a month ago Stimulus […]

Wolf Street - The used vehicle market – retail and wholesale – has gone through some history-making gyrations this year, and those gyrations are now being unwound. In the Good Times, about 40 million used vehicles were sold wholesale and retail per year. This year will be quite a bit below that. In November, sales lost more ground. […]

Wolf Street - Boom and bust cycles are guaranteed in this business. And now, this is the Weirdest Economy Ever, powered by the $3 trillion the Fed threw at the markets, and by $3 trillion in government stimulus and bailout spending, and by a huge shift to work-from-home and learning-at-home that required all kinds of spending on laptops, […]

HoweStreet.com Radio - Rents plunging as people flee San Francisco

Wolf Street - House prices jumped 7.0% across the US, according to the Case-Shiller Home Price Index released today. Other indices have indicated similar price surges. House prices are going nuts despite a terrible economy. They’re being fired up by low interest rates, $3 trillion in liquidity that the Fed threw at the markets, fear of inflation that […]

Wolf Street - Volkswagen A.G. – which is in a perennial struggle with Toyota over the crown of being the largest automaker in the world – has gotten the memo a few years ago, after its dreams of diesel domination collapsed into Diesel Gate: The future is going to be EVs. And every year, the company budgets evermore […]

Wolf Street - In October, eight months into the Pandemic, new-vehicle sales in the US recovered roughly, or not quite, to last year’s October level, depending on how the estimate is done — now that we have to rely on estimates — but left the huge hole intact. The Big Three US automakers stopped reporting actual monthly new-vehicle […]

Wolf Street - Weirdest economy ever, powered by stimulus money, and the now expired extra unemployment money, and money from rents-and-mortgage-payments-not-made, and money from cash-out mortgage refis of at record low interest rates. And folks “in aggregate” – all mixed together, with all inequalities papered over – are spending record amounts on goods, a lot of which are […]

Wolf Street - Another batch of crazy housing data yesterday. Crazy in the sense that the housing market, or rather part of it, namely the higher end of it, has gone totally crazy and that by now everyone knows that this isn’t “sustainable,” that “there’s no way it can last forever,” as Redfin CEO Glenn Kelman told CNBC. […]

Wolf Street - Prices of used cars and trucks have been on one heck of a crazy ride since the Pandemic started, with the market freezing up in March and April, and then heating up, with prices soaring but with demand and sales volume still not back where it was before the Pandemic. This – what would normally […]

Wolf Street - Microsoft became the latest company to officially build work-from-home as a permanent feature and benefit into its model – a “hybrid workplace,” as it calls it, which seems to be where this is heading for companies with office employees and enough tech savvy to pull it off. But that excludes a lot of companies too. […]

Wolf Street - In the third quarter 2020, the commercial real estate segment of office space in Houston, Manhattan, Chicago, San Francisco, and Los Angeles – each representing a different area of the US with different economic dynamics – has gotten hit hard by the stunning shift to work-from-home (WFH) and the sudden corporate realization that, after years […]

Wolf Street - The Nasdaq might be down 12% from its high on September 2, and Apple might be down 21% from its high on September 1. But the day-trader nuttiness – the new technical terms is “Robinhood traders” though they may trade on any platform, not just on Robinhood – isn’t letting up, and hedge funds might […]

Wolf Street - OK, get this: At a time when there are 29.6 million people claiming state or federal unemployment insurance because they lost their work in the worst economy of a lifetime, subprime auto-loan delinquencies, which in the past had spiked during much smaller labor market downturns, are doing the opposite: they’re dropping. Meaning, since April, people […]

HoweStreet.com Radio - US Real Estate, Car Sales, Unemployment

Wolf Street - Over the last two trading days, Thursday and Friday, the Giant 5 stocks combined fell by 7.4% in value. The Nasdaq dropped 6.2% over those two days. For Apple, the most giant of them all, the selloff started on Wednesday: Apple [AAPL]: -7.9% in 2 days; in 3 days: -9.9%, or -$226 billion. Alphabet [GOOG]: […]

Wolf Street - We’re going to look at San Francisco’s housing market in two ways: The Case-Shiller Home Price Index released today, which lags months behind but provides good price-movement data for houses and condos; and near-real-time indicators. First the near-real-time indicators: “Active listings” in San Francisco skyrocketed by 137% year-over-year to 1,995 homes for sale in the […]

Wolf Street - The Great East Japan Earthquake and subsequent tsunami in March 2011 triggered a series of events at the Fukushima power plant that led to catastrophic meltdowns in three of its six reactors, which led Japan to take the remaining of its 54 operating reactors offline, as a new regulatory and safety regime was established for […]

Wolf Street - Retail sales by category of retailer show how Americans have adjusted to the Pandemic and to a very peculiar financial situation. Spending was supported by stimulus money that included the extra $600 a week in federal unemployment benefits. A study by the Becker Friedman Institute for Economics at the University of Chicago found that two-thirds […]

Wolf Street - OK, as I mentioned on Friday, things are a little crazy in the consumer-debt arena at the moment: No Payment, No Problem: Bizarre New World of Consumer Debt. But there is another aspect to it – that of the American debt-slaves themselves. And there are all kinds of things happening. Consumer debt – student loans, […]
Next Page »