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First Signs that Surging Mortgage Rates Are Dialling Down the Heat under the Housing Market
First Signs that Surging Mortgage Rates Are Dialling Down the Heat under the Housing Market The Fed smiles upon rising long-term Treasury yields as sign of economic growth and rising inflation expectations. Long-term US Treasury yields have continued to march higher despite the Fed’s purchases of about $120 billion a month in Treasury securities and […]
Energy and Human Ambitions on a Finite Planet
Energy and Human Ambitions on a Finite Planet Where is humanity going? How realistic is a future of fusion and space colonies? What constraints are imposed by physics, by resource availability, and by human psychology? Are default expectations grounded in reality? This textbook, written for a general-education audience, aims to address these questions without either […]
Plastics & Semiconductor Shortages, Container Port Backlogs, the Texas Freeze Wreak Havoc on US Auto Manufacturing
Plastics & Semiconductor Shortages, Container Port Backlogs, the Texas Freeze Wreak Havoc on US Auto Manufacturing Americans trying to buy a new vehicle will end up paying more. The auto industry runs on far-flung supply chains and just-in-time inventories. Production is planned a long time in advance, and the whole industry is dependent on flawlessly […]
“Things Are Out Of Control” – There Is A Shortage Of Everything And Prices Are Soaring: What Happens Next
“Things Are Out Of Control” – There Is A Shortage Of Everything And Prices Are Soaring: What Happens Next In Wednesday’s press conference, Jay Powell confirmed that the Fed is setting off on a historic experiment: welcoming a conflagration of red-hot inflation for an indefinite period of time in an overheating economy, with the underlying […]
On The Verge Of A Global Crisis: One Bank Warns Of A “Biblical” Surge In Food Prices
On The Verge Of A Global Crisis: One Bank Warns Of A “Biblical” Surge In Food Prices Biblical, Lean, and Mean: ‘Dreams’ of an agri-commodity super-cycle Then Pharaoh said to Joseph: “Behold, in my dream I stood on the bank of the river. Suddenly seven cows came up out of the river, fine looking and […]
Money Is Made Up And We Can Change The Rules Whenever We Want
Money Is Made Up And We Can Change The Rules Whenever We Want Have you ever noticed how online capitalism cultists who condescendingly tell socialists they “just don’t understand economics” are always unable to lucidly defend their own understanding of economics? If you’ve never pressed such a character to clearly and concisely explain what it […]
Gold vs. the stock market
Gold vs. the stock market More than 3,000 years ago in the early 12th century BC, Greco-Roman legend tells us of a mythical pair of monsters located in the Strait of Messina in southern Italy. The monsters were named Scylla and Charybdis. And both Homer’s Odyssey and Virgil’s Aeneid describe the terror of sailors who […]
Stock Market Leverage Spikes in Historic Manner: Another WTF Chart of a Zoo that Has Gone Nuts
Stock Market Leverage Spikes in Historic Manner: Another WTF Chart of a Zoo that Has Gone Nuts In an investment environment where nothing matters anymore – until it suddenly does. In the current craze that encompasses everything from sneakers and NFTs to stocks, where valuations don’t matter because of widespread certainty that valuations will be even […]
Look to Prices, Not Official Metrics, for Inflation’s “Smoking Gun”
Look to Prices, Not Official Metrics, for Inflation’s “Smoking Gun” This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The overlooked driver of gold and silver prices, what to expect from gold after last year’s fireworks, a heap of ancient gold figures has been […]
What Interest Rate Triggers The Next Crisis?
What Interest Rate Triggers The Next Crisis? The Ten-year U.S. Treasury note yields 1.61%. 10-year high-quality corporate bonds yield 2.09%. The rate on a 30-year mortgage is 3.05%. Despite recent increases, interest rates are hovering near historic lows. We do not use the word “historic” lightly. By “historic,” we refer to the lowest levels since […]
Has the IMF become a Fascist Organization?
Has the IMF become a Fascist Organization? The entire world of economics has been abandoned without actually admitting it has failed. Even the International Monetary Fund (IMF) is throwing in the towel without actually admitting its policies have totally failed. The IMF was the bastion of Keynesianism, supporting economic Neoliberalism. Of course, the head of […]
Getting Hyperinflation Right
Getting Hyperinflation Right Profligate money printing by the US Federal Reserve and by other Western central banks has amounted to around $10 trillion over just the last year. The amount of currency in circulation has grown to $2 trillion, breaking a record set in 1945 and showing an almost 12% increase over 2019. The US […]
Rabo: If Powell Does Nothing, We Will See Godzilla-Sized Shockwaves Across Markets Everywhere
Rabo: If Powell Does Nothing, We Will See Godzilla-Sized Shockwaves Across Markets Everywhere “Quadzilla is approaching Tokyo!” [Cue epic music] “Up from the depths; 30 trillion high; Breathing fire; Its name in the sky — Quadzilla! Quadzilla! Quadzilla!” [Sudden switch to comedy music] “…and Godz-EU-ki.” For those who grew up with 80’s cartoons, that intro may be […]
THE WOLF STREET REPORT: Market Manias Galore, But Long-Term Interest Rates Smell a Rat
THE WOLF STREET REPORT: Market Manias Galore, But Long-Term Interest Rates Smell a Rat These manias and the rising long-term yields are on collision course. (You can also download THE WOLF STREET REPORT wherever you get your podcasts). wolfstreet, wolf street report, wolf richter, long-term interest rates, interest rates, financial markets
