Balance Sheet as % of GDP: Fed, ECB, BOJ, BOE, and Central Banks of Canada, Australia, New Zealand, and Sweden| Wolf Street
Gold mark-to-market quarterly adjustment: +€158 billion for Q3 on gold's price spike, largest ever write-up.| Wolf Street
Mortgage rates are higher than before the rate cuts started over a year ago.| Wolf Street
Its holdings of commercial paper & corporate bonds are nearly gone. The BOJ is cleaning up its balance sheet.| Wolf Street
Bringing federal job losses to over 200,000 since January. Excluding federal & state, nonfarm payrolls haven’t been all that bad.| Wolf Street
Examples: California, Texas, Florida, Washington, Oregon, Colorado, Arizona. In other states, homes still sell faster than before Covid, such as New York and Georgia (barely).| Wolf Street
The Standing Repo Facility got a bit of use on Sept. 15 (corporate tax day) amid minor liquidity strains in the repo market.| Wolf Street
The rise of the “non-traditional reserve currencies.”| Wolf Street
Corporate profits, after exploding in the high-inflation era, fell this year. Tariffs are very difficult to pass on after the price spikes in 2020-2022.| Wolf Street
Oakland, Austin, New Orleans, Cape Coral, San Francisco, Birmingham, Washington DC, Fort Myers, Denver, Portland, Phoenix, Sarasota, Naples, Hayward.| Wolf Street
Bond market reacts to inflation expectations and supply of new bonds, not the Fed’s policy rates.| Wolf Street
But the hot air was let out of pandemic-era gross margins, operating earnings, and net income. Sellers of existing homes should pay attention.| Wolf Street
Oakland, Cape Coral, Austin, San Francisco, Denver, Tampa, Seattle, New York City, St. Petersburg, Fort Myers, Sarasota, Boise, Jacksonville, Detroit, New Orleans, Portland, Arlington (TX), Naples, Mesa, Aurora (CO), Reno, Scottsdale, Phoenix, Orlando, Garland| Wolf Street
With US debt issuance threatening to blow all fuses, foreign demand is an increasingly important question.| Wolf Street
Amid only one dissent, FOMC Cuts by 25 basis points. “Dot Plot” sees 50 basis points in additional cuts in 2025. Risks shift to labor market. QT continues.| Wolf Street
Some big shifts related to tariffs. But our Drunken Sailors keep on splurging.| Wolf Street
Single-family giants are selling houses they bought amid the Housing Bust and shifted to new construction of build-to-rent developments. Multifamily caught up in CRE turbulence.| Wolf Street
Oakland, Austin, San Francisco, Denver, Tampa, Seattle, New York City, Saint Petersburg, Fort Myers, Sarasota, Boise, Jacksonville, Detroit, New Orleans, Portland, Arlington, Naples, Mesa, Aurora, Reno, Scottsdale.| Wolf Street
Clothing & general merchandise online retailers are the biggie.| Wolf Street
Our Drunken Sailors and their Credit Cards.| Wolf Street
Home prices fell YoY in 20 of our 33 metros: Tampa, Austin, Miami, San Diego, San Jose, San Francisco, San Antonio, Dallas, Phoenix, Orlando, Atlanta, Denver, Raleigh, Houston, Seattle… Some still up YoY: Boston, Chicago, New York, Philadelphia…| Wolf Street
Drunken Sailors going about their lives, spending money, moving the economy forward.| Wolf Street
Food prices also spiked. Energy prices surged due to diesel, jet fuel, and industrial electric power. Ugly all around.| Wolf Street
Subprime is, as always, in trouble, which is why it’s subprime – high-risk-high-profit auto sales & lending that can entail steep losses.| Wolf Street
Turns out, younger people live their lives, and have always done so.| Wolf Street
Not only did Blockchain Commons close out its major Zcash project in Q2 and start work on a big, new FROST push, but we also did continued work on many other initiatives: Working with Partners Zcash Zingo Labs FROST Ethereum Articles & Presentations Interoperability Provenance Marks Post-Quantum URs Permits in Gordian Envelope Thinking about Identity HackerNoon No Phone Home XID Core Concepts Fair Witness Bitcoin Policy Summit Web Updates Updated Projects Page New Envelope Seeds Page CLI Upda...| Blockchain Commons
The epic red-hot turnover in the labor market in 2021 and 2022 that had reshuffled the entire work force is over.| Wolf Street
US Treasury debt surged by $441 billion since the debt ceiling, to $36.7 trillion. Foreign demand for this stuff is an increasingly important issue.| Wolf Street
The new and improved Standing Repo Facility (SRF) sprang into action for one day at quarter-end on June 30.| Wolf Street
The job creation machine is running at a decent pace, unemployment is historically low, but it’s not evenly spread across all industries.| Wolf Street
At Blockchain Commons, we design open infrastructure that prioritizes privacy, autonomy, and human dignity. That’s why I support and personally signed the No Phone Home Initiative. It is not just a position, it’s a call to preserve a foundational principle of decentralized identity: Credentials must be verifiable without enabling surveillance! Why “No Phone Home” Matters The problem is simple: when verifying a digital credential such as a mobile driver’s license or a diploma, many s...| Blockchain Commons
ABSTRACT: “Fair Witnessing” is a new approach for asserting and interpreting digital claims in a way that mirrors real-world human trust: through personal observation, contextual disclosure, and progressive validation. It can be implemented with the decentralized architecture of Gordian Envelopes to allow individuals to make verifiable statements while balancing privacy, accountability, and interpretability. At its core, fair witnessing is not about declaring truth, it’s about showing y...| Blockchain Commons
In early 2025, Blockchain Commons architected and engineered a major project for the Zcash blockchain: the ZeWIF specification that allows all of its wallets to interoperate. Interoperability is something that I consider vitally important for a technological ecosystem, so I was thrilled that Blockchain Commons could improve interoperability for Zcash. Here’s a bit more on why, what Blockchain Commons did for Zcash, and what I’d like to do for other technological communities. The Limits of...| Blockchain Commons
Today’s post is the translation of a speech Morris Chang delivered on the history and future of TSMC and the semiconductor industry at large in April. Chang is the founder and two-time CEO of TSMC, now 90-years-old and retired. The audience of the speech was Taiwanese government officials and| Interconnected
Thinking of homeschooling? Don't do it! This tongue-in-cheek homeschool humor article explains why you should definitely not homeschool.| Weird, Unsocialized Homeschoolers
It’s hard to stay motivated to exercise when the weather gets chilly, but cold weather exercises may help you lose weight faster! Check out our 7 fitness tips for your winter workouts.| The Leaf
These iPhone camo cases feature uncommon patterns, and come with textures for a more organic look. Great for military enthusiasts, hunters, hikers, and outdoor geeks.| Geek Updated
Take a look at a handy infographic that lists the most famous artificial intelligence instances in pop culture.| Geek Updated
In this updated overview, you’ll see gorgeous iPhone covers that will remind you of the joy of reading books anywhere, anytime.| Ebook Friendly
Volunteer grants can boost nonprofit fundraising. Learn the benefits and best practices for leveraging volunteer grant programs here.| NPO Info
Delinquency rates unchanged, more buyers paid cash to dodge interest rates, prime is pristine, subprime (14% of originations) is (always) in trouble.| Wolf Street
Quantitative Tightening so far has removed 41% of Treasury securities and 29% of MBS that pandemic QE had added.| Wolf Street
The news of the past weeks have been turbulent. Geopolitical news, the World Cup,… and there has been one development that has flooded the professional social media channels recently: The release OpenAI‘s Chat GPT. It has been released a couple of days ago and since then left almost everybody who used it breathless and speechless, […] The post The Future of Leadership: Chat GPT, A.I. and Your Focus for 2023 appeared first on Lars Sudmann.| Lars Sudmann
It is always easy to write about leadership, and always difficult to do leadership. However, in this current crisis I wanted to point out to a need for a special type of leadership. Good leadership in in this day has many facets: It is empathic, you need to be able to lead remotely, you need […]| Lars Sudmann
There are {at least} 10 home ec skills your kids need to know to be prepared for life on their own. Make sure you're teaching your teens and tweens these practical life skills.| Weird, Unsocialized Homeschoolers
QT-1 blew up the repo market. This time around, the Fed wants to avoid that type of debacle so it wouldn’t have to “prematurely” end QT-2.| Wolf Street
Wondering what to do in Dublin, Ireland in 2025? Here are the top 25 things to do in Dublin in your lifetime.| Ireland Before You Die
Discover the best things to do in Ireland with our ultimate bucket list of 25 must-see experiences for your lifetime.| Ireland Before You Die
Are you looking to build an Accessory Dwelling Unit and don't know where to start? Here's a great article about software that shows you what kind of structure you can build on your property.| ADU Magazine
The Ins and Outs of ADU Financing. The term “ADU” is the hottest topic in residential real estate. Read more about financing an ADU.| ADU Magazine
Last weekend, I read a long, epic piece of techlore [https://www.huxiu.com/article/360061.html] that chronicled the fierce and bitter rivalry between TSMC and Samsung in their fight to become the world’s number 1 chip foundry, which stretched back three decades and continues today. Among the| Interconnected
Three months after Softbank announced its acquisition of Arm in 2016, Masa Son (founder and CEO of Softbank) invited Jensen Huang (founder and CEO of Nvidia) for dinner at his California mansion. Just the two of them. Among the many things they talked about at this “dinner date”, chronicled in| Interconnected