Holding Gold & Silver is Holding Wealth
Airlines, Trying to Dodge Bankruptcy with Air Travel Still Down 70%, Threaten Oct. Jobs Massacre Unless they Get 2nd Bailout “Unfortunately, we see few catalysts over the next six months to meaningfully change this trajectory”: Delta. By Wolf Richter for WOLF STREET. October...
“Pent-up Supply” in San Francisco Turns into Record Glut of Houses & Condos for Sale. Prices Weaken Why is everyone suddenly trying to sell their home? By Wolf Richter for WOLF STREET. We’re going to look at San Francisco’s housing market in two...
Jingle Mail for Malls: Even Biggest Landlords Walk from Malls as Stores Go Bankrupt, Refuse to Pay Rent, Mall Values Slashed Brutally. But those Shorting Mall CMBS Made a Killing Mall meltdown gets messier. But someone’s making money. Here’s how...
Haunting Photos of San Francisco’s Desolate Financial District During Morning “Rush Hour”: Visual Effects of Work-from-Home I’m standing in the middle of the street to take this photo. Why? Because I can. By Wolf Richter for WOLF STREET. On Tuesday, August 8, during...
Shell’s Colossal Miscalculation in 2011 of Today’s LNG Price: Largest-Ever $12-$17-Billion “Floating Facility” Shut Down, Months After Shipping First LNG. Done in by Long Price Collapse Built to profit from sky-high LNG Prices in Japan. Sunk by surging US LNG...
The Fed’s Asset Purchases: Week 10 Since Peak-QE Crazy charts to document our crazy times. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet for the week ended August 19, released this afternoon, rose by $53 billion, to $7.01...
The Rich Got Richer During the Pandemic, Bailed Out by the Fed. How it Happened and Why That’s Bad for the Economy Over 30 million people lost their jobs while the wealth of America’s 600-plus billionaires ballooned by $434 billion,...
Ecommerce Sales Blow Out, Spike 44% in Q2: Even Groceries, Building Materials, Garden Supplies, and Furniture The Pandemic Economy Massively Changed How Americans Buy Stuff. By Wolf Richter for WOLF STREET. Ecommerce retail sales jumped 44% in the second quarter 2020, compared to...
Mortgage Delinquencies Jump by Most Ever. 60-Day Delinquencies Hit Highest Level Ever. Record 16% of FHA Mortgages Delinquent. What a Mess Includes mortgages already delinquent before they were swept under the big federal rug of extend-and-pretend forbearance programs. By Wolf Richter for WOLF...
Alarm Bells Ring over Refinance Mortgage Boom: Why Refis Are so Risky Mortgage lobby throws hissy-fit over Fannie Mae’s & Freddie Mac’s new 0.5% “Adverse Market Refinance Fee,” which was a “result of risk management and loss forecasting precipitated by...
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank Big Gamble that was hot for years has gone sour after Turkish lira’s plunge and surge of...
Fired up by Stimulus Money & Debt Deferrals, Americans Went Shopping. But Where? How Life Changed During the Pandemic In 12 Whiplash-Inducing Charts. By Wolf Richter for WOLF STREET. Retail sales by category of retailer show how Americans have adjusted to the Pandemic...
Week 9 Since Peak-QE: Update on the Fed’s Assets Repos at $0. SPVs fell for sixth week. Dollar liquidity swaps fell for 9th week. MBS unchanged for 3rd week. Treasuries rose. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance...
Used Car & Truck Market Turmoil Mauls Freshly IPO-ed Unicorn Online Car Dealer Vroom. Shares -20% And how did the pros at CarMax do in the Crisis? By Wolf Richter for WOLF STREET. Vroom, whose shares plunged nearly 20% afterhours today, belongs to...