{"id":190107,"date":"2010-01-06T16:53:00","date_gmt":"2010-01-06T21:53:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/06\/economics-update-108\/"},"modified":"2010-01-06T16:53:00","modified_gmt":"2010-01-06T21:53:00","slug":"economics-update-108","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/06\/economics-update-108\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; width: 400px; float: right; text-align: center;\">Click for full size<\/p>\n<hr \/>\n<p><a href=\"http:\/\/img69.imageshack.us\/img69\/124\/mbapurchaseindexjan1201.jpg\"><img decoding=\"async\" src=\"http:\/\/img69.imageshack.us\/img69\/124\/mbapurchaseindexjan1201.jpg\" bordercolor=\"white\" border=\"0\" width=\"390\" \/><\/a><\/p>\n<p><a href=\"http:\/\/img693.imageshack.us\/img693\/9408\/reismallq47407157.jpg\"><img decoding=\"async\" src=\"http:\/\/img693.imageshack.us\/img693\/9408\/reismallq47407157.jpg\" bordercolor=\"white\" border=\"0\" width=\"390\" \/><\/a><br \/><span style=\"font-style: italic;\">H\/t <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/01\/reis-strip-mall-vacancy-rate-hits-106.html?\">Calculated Risk<\/a><\/span><\/div>\n<p>Well, the ADP private employment survey is saying that <a href=\"http:\/\/www.marketwatch.com\/story\/private-sector-sheds-84000-jobs-in-dec-adp-says-2010-01-06\">the private sector lost 84,000 jobs in December<\/a>, and the  Institute for Supply Management&#8217;s <a href=\"http:\/\/www.reuters.com\/article\/idUSTRE6030ZW20100106?feedType=RSS&amp;feedName=businessNews&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29\">non manufacturing index rose to 50.1<\/a>, up from 48.7 in November, and not as good as forecast, but still showing a smidgen of growth.<\/p>\n<p>Real estate was rather grim though, with <a href=\"http:\/\/abcnews.go.com\/Business\/wireStory?id=9488853\">mortgage applications hitting (seasonally adjusted) a 6 month low<\/a>, and <a href=\"http:\/\/www.calculatedriskblog.com\/2010\/01\/mba-mortgage-purchase-applications.html\">mortgage purchase applications<\/a> (top pic) hitting a 12 year low.<\/p>\n<p>Basically this means that people are not buying homes, they are just refinancing, though, with interest rates inching up, they aren&#8217;t doing that as much either.<\/p>\n<p>Additionally, a feature of suburban blight, the strip mall, is taking a hit with <a href=\"http:\/\/www.reuters.com\/article\/idUSN058150520100106\">vacancies hitting 10.6%<\/a>, an 18 year high.<\/p>\n<p>I keep saying it, but no one listens:  we need some inflation here.<\/p>\n<p>In energy, the cold weather drove both <a href=\"http:\/\/money.cnn.com\/2010\/01\/06\/markets\/oil\/\">crude oil<\/a> and <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=adrfliLd3HkQ\">natural gas<\/a> higher, while in currency, the <a href=\"http:\/\/money.cnn.com\/2010\/01\/06\/markets\/dollar\/index.htm\">dollar fell slightly vs. the Euro<\/a>, as traders make up their minds about whether to be optimists of pessimists.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Click for full size H\/t Calculated Risk Well, the ADP private employment survey is saying that the private sector lost 84,000 jobs in December, and the Institute for Supply Management&#8217;s non manufacturing index rose to 50.1, up from 48.7 in November, and not as good as forecast, but still showing a smidgen of growth. Real &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1094,973,975,1088,1089],"tags":[],"class_list":["post-190107","post","type-post","status-publish","format-standard","hentry","category-campaign-finance","category-economy","category-employment","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190107"}],"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=190107"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190107\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}