Share this page!

Joe Weisenthal Profile picture
Twitter logo
Feb 16 • 4 tweets • 2 min read
WHY NAILS $$ HAVE SURGED AND BECOME HARDER TO FIND

There was tons of interest in our episode on nails. So I wanted to understand what's going on now. Joe Leffler, the CEO of Power Tools maker Metabo-HPT explained to me what's really driving the surge. bloomberg.com/news/articles/…
A big part of it, per Leffler, is the simple math on freight.

Here's what it looks like: bloomberg.com/news/articles/…
And thanks to @fcastofthemonth for his insanely granular knowledge of BLS categories, knowing the two key lines to track nail (and other construction adhesive) prices.
And ICYMI, here's our episode from last week, with the economist Dan Sichel, on the history of nail prices, since 1695 bloomberg.com/news/articles/…

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Joe Weisenthal

Joe Weisenthal Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TheStalwart

Joe Weisenthal Profile picture
Feb 7
TRANSCRIPT:

The full text of our conversation with @DanSichel1 about the price of nails is out.

Just a fascinating discussion about the history of nails that touched on so many different topics. bloomberg.com/news/articles/…
@DanSichel1 In 1695, one talented nailsmith could make one mail every minute.

Today, a worker at a nail factory can make about 3500 mails a minute.

Productivity going up! bloomberg.com/news/articles/…
@DanSichel1 Meanwhile, the price of nails has surged lately, amid a perfect storm of factors driving up the costs.
Read 5 tweets
Joe Weisenthal Profile picture
Feb 4
BOOOM. Jobs report crushes expectations.

467K new jobs in January vs. expectatiosn of 125K. So much for the big Omicron jump.

The unemployment rate rose to 4%, however, this is in the context of a big LFPR jump.

Also HUGE upward revision to last month.
The big story, IMO, are the big upward revisions to last month.

Labor market 🔥🔥🔥🔥
Big jump in 2-year yields.

March hike more than locked in, it would seem. bloomberg.com/news/articles/…
Read 7 tweets
Joe Weisenthal Profile picture
Feb 3
NEW ODD LOTS

@tracyalloway and I talked to @evabeylin, a director at The Graph and a member of the mostly anonymous crypto investing collective @egirl_capital.

She’s one of the doxxed members of the group, and she came on to tell us how it all works. bloomberg.com/news/articles/…
What’s great about Eva’s perspective, is that she’s an investor and builder in the space, so basically the perfect person to talk to about what’s happening in the space right now.
Also I’ve met @CL207 in person, and it really is a cat in a hazmat suit,
Read 4 tweets
Joe Weisenthal Profile picture
Jan 25
THE OTHER REASON THERE'S NO FED PUT RIGHT NOW

In today's @markets newsletter, I wrote how it's not just inflation that will keep the Fed hiking. It's also that, unlike with past market downturns, there isn't an associated growth scare.

Sub here: bloomberg.com/account/newsle…
Part of the reason it seems like the Fed always rides to the rescue of the market, when it goes down, is that there's usually something else going on beyond merely the decline itself. With this latest swoon, that's not really there.
It really is incredible how narrow credit spreads are right now. They were higher in late 2021. They spiked way more in late 2018, as well as the 2015/2016 China stuff.
Read 4 tweets
Joe Weisenthal Profile picture
Jan 24
THE STOCK MARKET PARTY HAS BEEN ENDING FOR ALMOST A YEAR

In today's @markets newsletter, I wrote about the pain in the market. It's getting a lot of attention now, but in reality it's been going on for almost a year.

Subscribe to the newsletter here: bloomberg.com/account/newsle…
@markets Back when the GameStop craziness happened, a bunch of people said "this must be the top!"

And it retrospect it actually was. That was the peak of the mania.
@markets BRK/ARKK bottomed right in the middle of last February.
Read 5 tweets
Joe Weisenthal Profile picture
Jan 12
A little bit hot.

Headline CPI rises 7% as expected.

However, core CPI accelerated to 5.5% vs. the 5.4% expected.

And the sequential change in core was 0.6% vs. the 0.5% expected.

Stock futures unchanged basically bloomberg.com/news/articles/…
Two year yields not doing much, so doesn't look like this report (so far) is expected to change the Fed's trajectory one way or another.
"The index for used cars and trucks continued to rise, advancing 3.5
percent in December after increasing 2.5 percent in each of the prior 2 months." bls.gov/news.release/c…
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Like this author's thread?

Get emails when @TheStalwart has new unrolls!

Check out other threads from @TheStalwart!

Read all threads by @TheStalwart

:(