What I’m Reading
Much Ado About Nothing: Despite dire forecasts of an eviction tsunami when the federal moratorium ended, actual eviction filings are still 40% below their pre-pandemic historical average. Five Thirty Eight Also, told ya so.
Emptied Out: Omicron is upending grocery operations across the entire supply chain. Staffing issues in stores, production facilities and logistics channels have resulted in empty shelves once again. Its not just hoarding this time around. Slate
Expect Delays: Surging Omicron cases have caused office employers to once again put off their return dates. The longer this continues, the more that employers and employees will find ways to be more productive without offices. Landlords should be nervous. Wall Street Journal
Reversal: Prices are rising and US households are spending more on housing, food, gas, transportation and medical care. With median income gains being outpaced by inflation, American families are once again taking on debt to make up the difference. CNBC To be fair, American balance sheets are in great shape so this move isn’t dangerous yet, but it does need to be watched.
Coming in Hot: CPI registered a 7% gain for the 12-month period ending in December, the largest increase since June of 1982. Calculated Risk Blog
Chart of the Day
This has huge implications for everything from measurement of full employment to inflation expectations.
Source: The Daily Shot
WTF
Gotta Catch Em All: Two LAPD officers were fired for ignoring a robbery in progress and instead trying to catch a Snorlax in Pokémon Go. Vice I read this story twice and still can’t believe that its real but it is.
High Times: A group of senior citizens unknowingly consumed pot brownies that were brought to a community center card game by a 73-year-old South Dakota woman who was unaware that her son had prepared the baked goods with THC butter. The Smoking Gun
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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