{"id":188685,"date":"2010-08-11T21:38:00","date_gmt":"2010-08-12T02:38:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/08\/11\/economics-update-39\/"},"modified":"2010-08-11T21:38:00","modified_gmt":"2010-08-12T02:38:00","slug":"economics-update-39","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/08\/11\/economics-update-39\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; padding: 5px; width: 400px; float: right; text-align: center;\">Click for full size<\/p>\n<hr \/>\n<p><a href=\"http:\/\/a.imageshack.us\/img836\/3528\/confidencechart5415600.png\"><img decoding=\"async\" src=\"http:\/\/a.imageshack.us\/img836\/3528\/confidencechart5415600.png\" bordercolor=\"white\" border=\"0\" width=\"390\" \/><\/a> <span style=\"font-style: italic;\"><a href=\"http:\/\/www.angrybearblog.com\/2010\/08\/consumer-confidence.html\">Historical Consumer Confidence Trends, Courtesy Angry Bear<\/a><br \/><\/span><\/div>\n<p>Consumers are continuing to deleverage, (Thrift, Paradox of) with <a href=\"http:\/\/www.cnbc.com\/\/id\/38596894\">outstanding consumer debt falling for the 5<sup>th<\/sup> straight month<\/a>, so people are still not spending.<\/p>\n<p>On the brighter side, <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/08\/rail-traffic-increases-41-in-july.html\">rail traffic increased in July<\/a> YoY, though <a href=\"http:\/\/www.reuters.com\/article\/idUSTRE65M2WK20100810\">business productivity fell for the first time in 1\u00bd years<\/a> in the 2<sup>nd<\/sup> quarter.  Additionally, this report shows that household income fell.\u2026.Not good.<\/p>\n<p>It&#8217;s not surprising that the <a href=\"http:\/\/www.businessweek.com\/news\/2010-08-10\/small-business-confidence-index-in-u-s-falls-for-second-month.html\">National Federation of Independent Business\u2019s optimism index fell for the 2<sup>nd<\/sup> straight month<\/a>.<\/p>\n<p>Meanwhile, the June Job Openings and Labor Turnover (Jolts) report <a href=\"http:\/\/economy.kansascity.com\/?q=node\/7970\">showed hiring slowing in June<\/a>.<\/p>\n<p>Finally, despite record breaking low rates, <a href=\"http:\/\/www.thestreet.com\/story\/10833628\/1\/mortgage-applications-tepid-despite-rates.html?cm_ven=GOOGLEFI\">mortgage were flat this week<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Click for full size Historical Consumer Confidence Trends, Courtesy Angry Bear Consumers are continuing to deleverage, (Thrift, Paradox of) with outstanding consumer debt falling for the 5th straight month, so people are still not spending. On the brighter side, rail traffic increased in July YoY, though business productivity fell for the first time in 1\u00bd &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1088,1089,1035],"tags":[],"class_list":["post-188685","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-real-estate","category-recession","category-transportation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188685"}],"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=188685"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188685\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}