{"id":188926,"date":"2010-07-08T17:51:00","date_gmt":"2010-07-08T22:51:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/07\/08\/economics-update-48\/"},"modified":"2010-07-08T17:51:00","modified_gmt":"2010-07-08T22:51:00","slug":"economics-update-48","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/07\/08\/economics-update-48\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>It&#8217;s jobless Thurdsay, and <a href=\"http:\/\/www.cnbc.com\/id\/38144446\">initial claims fell by 21,00 to 454000<\/a>, which is still at least 100,000 too high for anything approaching a realistic recovery.<\/p>\n<p>The less volatile 4-week moving average fell by 1250, and continuing claims fell by 224,000 to 4.41 million, though I am not sure if the latter might have been caused by the Senate delaying extended benefits.<\/p>\n<p>Additionally, it looks like what Paul Krugman calls the &#8220;Invisible Bond Vigilantes,&#8221; still appear not to exist, because <a href=\"http:\/\/www.cnbc.com\/\/id\/38146897\">the 30-year fixed mortgage rate has fallen to 4.57%<\/a>, the lowest mortgage rate since Freddie Mac started keeping track of the data in 1971.<\/p>\n<p>Note that even with the banks giving away money, people are still not buying houses now that the tax credit is basically done.<\/p>\n<p>Hoocoocanode?<\/p>\n<p>In other less than surprising news, the <a href=\"http:\/\/www.cnbc.com\/\/id\/38142856\">Bank of  England has kept its benchmark rate at \u00bd%<\/a>, basically zero, so apparently <span style=\"font-weight: bold;\">they<\/span> don&#8217;t believe in the bond vigilante fairy either.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s jobless Thurdsay, and initial claims fell by 21,00 to 454000, which is still at least 100,000 too high for anything approaching a realistic recovery. The less volatile 4-week moving average fell by 1250, and continuing claims fell by 224,000 to 4.41 million, though I am not sure if the latter might have been caused &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1004,1088,985],"tags":[],"class_list":["post-188926","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-finance","category-real-estate","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188926"}],"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=188926"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188926\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}