{"id":189830,"date":"2010-02-08T21:51:00","date_gmt":"2010-02-09T02:51:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/08\/economics-update-93\/"},"modified":"2010-02-08T21:51:00","modified_gmt":"2010-02-09T02:51:00","slug":"economics-update-93","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/08\/economics-update-93\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Normally, I don&#8217;t talk stock prices, particularly the Dow, which is an arbitrary and not particularly accurate metric of the stock market, but the fact that the <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748703630404575052841172459932.html\">DJIA closed below 10,000 today<\/a> has a significant effect on the thinking of the markets, or at least on the thinking of the financial journalists.<\/p>\n<p>On the other hand we do have some good signs, most notably that <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aUf2PZ15NB50&amp;pos=4\">the interest rate premoum on junk bonds appears to be falling<\/a>, which generally implies that financing is becoming more available.<\/p>\n<p>Additionally, it appears that some sort of deal is in the offing with the EU to bail out Greece, which has <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aCKrlNF_Yyoo&amp;pos=2\">driven voth the Yen and the dollar lower<\/a>, because investors are not looking so hard for safe havens.<\/p>\n<p>As is the norm, the falling dollar has <a href=\"http:\/\/money.cnn.com\/2010\/02\/08\/markets\/oil\/\">driven oil higher<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Normally, I don&#8217;t talk stock prices, particularly the Dow, which is an arbitrary and not particularly accurate metric of the stock market, but the fact that the DJIA closed below 10,000 today has a significant effect on the thinking of the markets, or at least on the thinking of the financial journalists. On the other &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004],"tags":[],"class_list":["post-189830","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189830"}],"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=189830"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189830\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}