One of the cardinal questions in politics for voters to answer is: are you better off today than you were before? Has the party in power made your life better or worse, easier or more difficult, safer or more dangerous? Are you freer, or less free than before? We think an objective answer to this […]
https://pricklypear.news/wp-content/uploads/dispair.jpg339509Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-10-17 05:42:452022-12-15 09:02:43Yes, Things ARE as Bad as You Think They Are. Here is What You Can Do.
The US dollar has been on a tear rarely if ever seen before. This has been helped by soaring interest rates. For example, we began the year with the bellwether 10-year Treasury bond at 1.6% while last week’s auction saw rates above 4%. While the nominal change does not seem that large, the percentage change […]
https://pricklypear.news/wp-content/uploads/iStock-1088813672.jpg8361254Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-10-06 01:55:542022-12-15 09:02:43The US Dollar Hits a 35 Year High
Prior to 2000, it was common in the economic and investment literature to read about “bond vigilantes.”Credit for the term is generally given to investment guru Edward Yardeni. James Carville, the snake-headed political advisor to the Clinton campaign in 1994, remarked that if there were such a thing as reincarnation, he would like come back […]
https://pricklypear.news/wp-content/uploads/iStock-1217010771-scaled.jpg17072560Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-10-04 01:55:432022-12-15 09:02:44Are The Bond Vigilantes Looking for a Hanging?
It’s like a dam broke. And now higher interest rates and mortgage rates for much longer, with lower asset prices, as the Everything Bubble gets repriced. So now the media suddenly focuses on this big problem I’ve been screaming about for many months: Inflation has shifted from energy and from goods tangled up in […]
https://pricklypear.news/wp-content/uploads/inflation-4.jpg339509Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-09-26 02:00:582022-12-15 09:05:39This Inflation Will Be Tough to Get under Control
Long-term stagnation turns into a sharp decline. Over the four weeks through September 9, gasoline consumption dropped by 11.7% from the same four-week period in 2019, to 8.56 million barrels per day on average, below the same periods in 2020 and 2021, according to EIA data today. The EIA measures gasoline consumption in terms of […]
#Phoenix builder: “The positive is there’s light at the end of the tunnel for improving build cycle times. The negative is there won’t be customers on the other side of said tunnel.” We’ve seen the data from the Census Bureau about the downturn in the market for new houses: surging inventories – 11 months’ supply […]
https://pricklypear.news/wp-content/uploads/phxhome.jpg339509Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-09-11 06:45:472022-12-15 09:05:40Boots-on-the-Ground Observations by 21 Home Builders about the Housing Market They’re Facing
Editors’ Note: The author’s warning and advice at the end of this article are so important. The economic problems plaguing much of the world are related to Democrat and Biden administration governance in many areas of public policy and economic management. The Inflation Reduction Act (misnamed – it is the Green New Deal Slush Fund Act), environmental […]
https://pricklypear.news/wp-content/uploads/pastfuture.jpg339509Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-09-10 02:00:352022-12-15 09:02:44It Is Still a Dilemma for Investors
Interesting stuff happening in the labor market, suddenly. Employers added 315,000 workers to their payrolls in August, and 1.13 million over the past three months – solid growth. Households reported that the number of working people in regular jobs or self-employed jumped by 442,000 in August, after having been essentially flat for months. There […]
https://pricklypear.news/wp-content/uploads/daytrader.jpg339509Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-09-07 02:02:102022-12-15 09:05:40Stock Selloff, Collapse of Cryptos, Meme Stocks & SPAC/IPO Zombies Bringing Day Traders Back into the Labor Force?
The Case-Shiller index, which lags reality on the ground by 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. The housing market is going through some navel-gazing, as many buyers evaporated at current prices and mortgage rates. They’re still out there, but […]
https://pricklypear.news/wp-content/uploads/sinking-1.jpg340468Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-09-05 02:00:542022-12-15 09:05:41The Most Splendid Housing Bubbles in America, August Update: First Price Drops Appear, All in the West
Sales Plunge to Lockdown Levels, Active Listings Surge, Prices Begin to Dip as Price Reductions Spike, Investors Pull Back Buyers moseyed away from sky-high prices but are still there, just a lot lower, while many sellers hang on to illusions. Inventory and supply of previously-owned homes of all types – single-family houses, condos, co-ops, and […]
https://pricklypear.news/wp-content/uploads/iStock-537534375-scaled.jpg17072560Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-08-22 02:00:422022-12-15 09:05:41All Signs Point to a Housing Recession
Yes, Things ARE as Bad as You Think They Are. Here is What You Can Do.
/in Culture War, Economy, Liberty, Midterms 2022, National Security, Personal Finance, Politics/by Neland NobelOne of the cardinal questions in politics for voters to answer is: are you better off today than you were before? Has the party in power made your life better or worse, easier or more difficult, safer or more dangerous? Are you freer, or less free than before? We think an objective answer to this […]
The US Dollar Hits a 35 Year High
/in Economy, Featured, Personal Finance, Politics/by Neland NobelThe US dollar has been on a tear rarely if ever seen before. This has been helped by soaring interest rates. For example, we began the year with the bellwether 10-year Treasury bond at 1.6% while last week’s auction saw rates above 4%. While the nominal change does not seem that large, the percentage change […]
Are The Bond Vigilantes Looking for a Hanging?
/in Economy, Featured, Personal Finance, Politics/by Neland NobelPrior to 2000, it was common in the economic and investment literature to read about “bond vigilantes.”Credit for the term is generally given to investment guru Edward Yardeni. James Carville, the snake-headed political advisor to the Clinton campaign in 1994, remarked that if there were such a thing as reincarnation, he would like come back […]
This Inflation Will Be Tough to Get under Control
/in Economy, Featured, Personal Finance, Politics/by Wolf RichterIt’s like a dam broke. And now higher interest rates and mortgage rates for much longer, with lower asset prices, as the Everything Bubble gets repriced. So now the media suddenly focuses on this big problem I’ve been screaming about for many months: Inflation has shifted from energy and from goods tangled up in […]
Gasoline Demand Destruction Accelerates Despite Plunge in Prices: Consumption Drops to August 1997 Level
/in Economy, Featured, Personal Finance/by Wolf RichterLong-term stagnation turns into a sharp decline. Over the four weeks through September 9, gasoline consumption dropped by 11.7% from the same four-week period in 2019, to 8.56 million barrels per day on average, below the same periods in 2020 and 2021, according to EIA data today. The EIA measures gasoline consumption in terms of […]
Boots-on-the-Ground Observations by 21 Home Builders about the Housing Market They’re Facing
/in Arizona News, Economy, Featured, Personal Finance/by Wolf Richter#Phoenix builder: “The positive is there’s light at the end of the tunnel for improving build cycle times. The negative is there won’t be customers on the other side of said tunnel.” We’ve seen the data from the Census Bureau about the downturn in the market for new houses: surging inventories – 11 months’ supply […]
It Is Still a Dilemma for Investors
/in Economy, Environment, Featured, Liberty, Midterms 2022, National Security, Personal Finance, Politics/by Neland NobelEditors’ Note: The author’s warning and advice at the end of this article are so important. The economic problems plaguing much of the world are related to Democrat and Biden administration governance in many areas of public policy and economic management. The Inflation Reduction Act (misnamed – it is the Green New Deal Slush Fund Act), environmental […]
Stock Selloff, Collapse of Cryptos, Meme Stocks & SPAC/IPO Zombies Bringing Day Traders Back into the Labor Force?
/in Economy, Featured, Personal Finance/by Wolf RichterInteresting stuff happening in the labor market, suddenly. Employers added 315,000 workers to their payrolls in August, and 1.13 million over the past three months – solid growth. Households reported that the number of working people in regular jobs or self-employed jumped by 442,000 in August, after having been essentially flat for months. There […]
The Most Splendid Housing Bubbles in America, August Update: First Price Drops Appear, All in the West
/in Economy, Featured, Personal Finance/by Wolf RichterThe Case-Shiller index, which lags reality on the ground by 4-6 months, is starting to pick up the price drops in Seattle, San Francisco, San Diego, Los Angeles, Denver, and Portland. The housing market is going through some navel-gazing, as many buyers evaporated at current prices and mortgage rates. They’re still out there, but […]
All Signs Point to a Housing Recession
/in Economy, Featured, Personal Finance/by Wolf RichterSales Plunge to Lockdown Levels, Active Listings Surge, Prices Begin to Dip as Price Reductions Spike, Investors Pull Back Buyers moseyed away from sky-high prices but are still there, just a lot lower, while many sellers hang on to illusions. Inventory and supply of previously-owned homes of all types – single-family houses, condos, co-ops, and […]