{"id":189330,"date":"2010-04-15T20:23:00","date_gmt":"2010-04-16T01:23:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/15\/economics-update-67\/"},"modified":"2010-04-15T20:23:00","modified_gmt":"2010-04-16T01:23:00","slug":"economics-update-67","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/15\/economics-update-67\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, so much for a recovery in employment, <a href=\"http:\/\/www.marketwatch.com\/story\/us-jobless-claims-climb-24000-to-484000-2010-04-15?reflink=MW_news_stmp\">initial unemployment claims rose by 24,000 to 484,000<\/a>, with the 4-week moving average rising by 7,5000 to 457,750, and continuing claims rose by 73,000 to 4.64 million.<\/p>\n<p>Additionally, real estate is looking grim, with <a href=\"http:\/\/www.realtytrac.com\/contentmanagement\/pressrelease.aspx?channelid=9&amp;itemid=8927\">foreclosures rising by 7% <\/a><a href=\"http:\/\/www.realtytrac.com\/contentmanagement\/pressrelease.aspx?channelid=9&amp;itemid=8927\">in the 1<sup>st<\/sup> quarter of2010over the 4<sup>th<\/sup> quarter of 2009<\/a>, and by 16% year over year, which implies over 1 million foreclosures over the next year.<\/p>\n<p>On the brighter side of real estate, <a href=\"http:\/\/www.cnbc.com\/\/id\/36559272\">mortgage rates fell for the first time in 5 weeks<\/a>, and <a href=\"http:\/\/abcnews.go.com\/Business\/wireStory?id=10384807\">builder confidence rose<\/a>, though the latter is largely driven by the insane home buyer tax credits.<\/p>\n<p>In consumer credit, <a href=\"http:\/\/www.reuters.com\/article\/idUSTRE63E4CZ20100415?feedType=RSS&amp;feedName=businessNews&amp;utm_source=feedburner&amp;utm_medium=feed\">credit card delinquencies fell in March<\/a>, though <a href=\"http:\/\/www.cnbc.com\/\/id\/36546543\">Capital One is doing worse<\/a>. (What&#8217;s in <span style=\"font-weight: bold;\">your<\/span> wallet?)<\/p>\n<p>In more general metrics, the <a href=\"http:\/\/www.cnbc.com\/\/id\/36554934\">Philadelphia Federal Reserve Bank&#8217;s Business Activity Index <\/a><a href=\"http:\/\/www.cnbc.com\/\/id\/36554934\">beat expectations<\/a>, rising to 20.2, beating forecasts of 20, and <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=a8os5E9dm_9E&amp;pos=1\">factory production grew by 0.9%<\/a>.<\/p>\n<p>Meanwhile in currency and energy, concerns about Greece drove the <a href=\"http:\/\/money.cnn.com\/2010\/04\/15\/markets\/dollar\/index.htm\">dollar up<\/a>, and <a href=\"http:\/\/money.cnn.com\/2010\/04\/15\/markets\/oil\/\">oil down<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, so much for a recovery in employment, initial unemployment claims rose by 24,000 to 484,000, with the 4-week moving average rising by 7,5000 to 457,750, and continuing claims rose by 73,000 to 4.64 million. Additionally, real estate is looking grim, with foreclosures rising by 7% in the 1st quarter of2010over the 4th quarter of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1004,1088,1089],"tags":[],"class_list":["post-189330","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-finance","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189330"}],"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=189330"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189330\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}