{"id":189351,"date":"2010-04-12T19:30:00","date_gmt":"2010-04-13T00:30:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/12\/economics-update-69\/"},"modified":"2010-04-12T19:30:00","modified_gmt":"2010-04-13T00:30:00","slug":"economics-update-69","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/12\/economics-update-69\/","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:\/\/img62.imageshack.us\/img62\/5930\/20100410chartsgraphicpo.jpg\"><img decoding=\"async\" src=\"http:\/\/img62.imageshack.us\/img62\/5930\/20100410chartsgraphicpo.jpg\" bordercolor=\"white\" border=\"0\" width=\"390\" \/><\/a> <a href=\"http:\/\/www.nytimes.com\/2010\/04\/10\/business\/economy\/10charts.html\"><span style=\"font-style: italic;\">Business orders returning<br \/><\/span><\/a><\/div>\n<p>Well, it&#8217;s kind of a slow news day, as the big news was the <a href=\"http:\/\/40yrs.blogspot.com\/2010\/04\/2-bits-of-economic-news.html\">Euro loans to Greece<\/a>, but we do have another sign of a recovery, which is that <a href=\"http:\/\/www.ritholtz.com\/blog\/2010\/04\/accelerating-orders\/\">business orders are on an upswing worldwide<\/a>.<\/p>\n<p>All in all, I think that we are truly in recovery, unless another shoe drops in high end finance, but I&#8217;m kind of expecting another shoe to drop there, causing another panic and another bailout.<\/p>\n<p>The National Bureau of Economic Research (NBER) continues to take a conservative approach, saying that, &#8220;The determination of the trough date on the basis of current data <a href=\"http:\/\/www.nber.org\/cycles\/april2010.html\">would  be premature<\/a>.&#8221;<\/p>\n<p>This is not surprising. The folks at the NBER typically take more than a year after the trough bottom to announce that they have determined a trough date.<\/p>\n<p>In energy, <a href=\"http:\/\/money.cnn.com\/2010\/04\/11\/news\/economy\/gas_prices_0411\/index.htm\">gasoline is up nearly 4\u00a2\/gallon this over the last three weeks<\/a>, to $2.85\/gallon, and it&#8217;s not unreasonable to assume that it will break $3\/gallon by the start of the summer driving season.<\/p>\n<p>As to oil, <a href=\"http:\/\/money.cnn.com\/2010\/04\/12\/markets\/oil\/\">it fell today<\/a>, as and <a href=\"http:\/\/money.cnn.com\/2010\/04\/12\/markets\/dollar\/index.htm\">so did the dollar<\/a>, largely in reaction to the Greek bailout.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Click for full size Business orders returning Well, it&#8217;s kind of a slow news day, as the big news was the Euro loans to Greece, but we do have another sign of a recovery, which is that business orders are on an upswing worldwide. All in all, I think that we are truly in recovery, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1089],"tags":[],"class_list":["post-189351","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189351"}],"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=189351"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}