{"id":188049,"date":"2010-12-22T21:39:00","date_gmt":"2010-12-23T02:39:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/12\/22\/economics-update-10\/"},"modified":"2010-12-22T21:39:00","modified_gmt":"2010-12-23T02:39:00","slug":"economics-update-10","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/12\/22\/economics-update-10\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>The final numbers for US GDP in the 3<sup>rd<\/sup> quarter came in, and they were <a href=\"http:\/\/www.smh.com.au\/business\/world-business\/us-gdp-growth-less-than-forecast-as-inflation-cools-20101223-195ti.html\">slightly lower than estimates<\/a>, with a 2.6%, as opposed to the 2.7% forecast, growth rate, while core inflation was at a 50 year low.<\/p>\n<p>So I don&#8217;t think that either inflation or a robust recovery are around the corner, particularly with <a href=\"http:\/\/www.bloomberg.com\/news\/2010-12-22\/crude-oil-increases-a-fourth-day-on-u-s-economic-growth-supply-decline.html\">oil rising above $90\/bbl<\/a>, a 2 year high, which has in turn <a href=\"http:\/\/money.cnn.com\/2010\/12\/13\/news\/economy\/three_dollar_gas\/index.htm\">driven gasoline prices near to $3.00\/gallon<\/a>.<\/p>\n<p>Unfortunately, the <a href=\"http:\/\/www.bloomberg.com\/news\/2010-12-22\/euro-trades-near-three-week-low-on-concern-europe-s-banks-need-more-funds.html\">dollar has continued to fatten up versus the Euro<\/a>, because people see more pain and woe from Ireland, Greece, Portugal, Spain, and Italy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The final numbers for US GDP in the 3rd quarter came in, and they were slightly lower than estimates, with a 2.6%, as opposed to the 2.7% forecast, growth rate, while core inflation was at a 50 year low. So I don&#8217;t think that either inflation or a robust recovery are around the corner, particularly &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,984,1200,1089],"tags":[],"class_list":["post-188049","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-europe","category-inflation","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188049"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=188049"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188049\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}