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My Thoughts on the Fed’s Back-to-the-Future “Standing Repo Facilities” Announced Today
by Wolf Richter on July 29, 2021
Repos are different from QE; they’re in-and-out transactions that don’t endlessly pile up, unlike QE.
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The Zoo Has Gone Nuts: PayPal Will Give Me $25 if I Buy Cryptos
by Wolf Richter on July 28, 2021
Ah, hefty “fees” & fat “spreads.” But wasn’t the promise of bitcoin to buy stuff without using fiat currency payment systems such as PayPal?
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Grant Williams, Egon von Greyerz, and Ronnie Stoeferle: The Inflationary Endgame
by Egon von Greyerz on July 28, 2021
Watch some of the brightest minds in finance, Grant Williams, Egon von Greyerz, and Ronnie Stoeferle discuss fiscal policy, the "crack-up boom," inflation, liquidity, and of course gold and silver in these insights from a recent discussion. Read […]
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The Most Splendid Housing Bubbles in America: July Update, Holy Moly
by Wolf Richter on July 28, 2021
Raging mania house-price inflation.
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No, Rents Are Not Suddenly Spiking in San Francisco: They Fell Again in July and Are Down 27% since June 2019
by Wolf Richter on July 27, 2021
The rental market is in turmoil after jobs and people left, and price discovery has set in. Falling rents are a market-based solution to the “Housing Crisis.”
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US Home Purchases by Foreigners Plunged for 4th Year, to Decade Low. But They Bought More Expensive Homes than Americans
by Wolf Richter on July 27, 2021
Purchases by buyers from China collapsed by 84% since the peak in 2017.
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Buyers’ Strike: Sales of New Houses Plunge 32% in 5 Months, Unsold Inventory Highest since 2008, Prices Drop, Construction Costs Spike by Most since 1980
by Wolf Richter on July 26, 2021
Bottom falls out at lower end. Fed-enriched high-end buyers doing fine.
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People Sure Are Driving a Lot, Gasoline Consumption Hits Record, But Flying & Mass Transit Lag Way Behind
by Wolf Richter on July 26, 2021
The miracles of the new economy.
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The Death of Truth & the Rise of Centralized Government Control
by Matthew Piepenburg on July 25, 2021
Centralized government control has resulted in distortion of the reality of our economy and our future. Conditions will further unravel as the truth continues to be suppressed. Read more...
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Bond Market Has Been Clueless about Inflation for Decades, Now More so Than Ever. The Meme the Drop in Yields = End of Inflation is a Fantasy
by Wolf Richter on July 25, 2021
Even before QE, the 10-year yield lagged years behind CPI, up and down. And now, the Fed manipulates the market with QE.
MESSAGE FROM THE CIRCUS:
To read too many books is harmful
– Chairman Mao