{"id":190286,"date":"2009-12-14T18:10:00","date_gmt":"2009-12-14T23:10:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/12\/14\/economics-update-118\/"},"modified":"2009-12-14T18:10:00","modified_gmt":"2009-12-14T23:10:00","slug":"economics-update-118","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/12\/14\/economics-update-118\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Bad news from the Euro Zone, with <a href=\"http:\/\/news.xinhuanet.com\/english\/2009-12\/15\/content_12647028.htm\">Eurozone employment falling by 0.5% in the 3<sup>rd<\/sup> quarter<\/a>, and <a href=\"http:\/\/www.reuters.com\/article\/idUSLDE5BD1A420091214?type=marketsNews\">Euro zone industrial output fell by 0.6% in October<\/a>, and by 11.1% year over year.(!)<\/p>\n<p>We are also looking at <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=aBYSp0.XfXZs&amp;pos=14\">a spike in food prices over the next year<\/a>, leading to an increase in inflation that all the economists and the economic journalists ignore, because, after all, it&#8217;s not core, because it&#8217;s just <span style=\"font-weight: bold;\">food<\/span>.<\/p>\n<p>In currency, Abu Dhabi has agreed to bail out Dubai, which has made people feel more secure, so they are <a href=\"http:\/\/money.cnn.com\/2009\/12\/14\/markets\/dollar.reut\/index.htm\">selling dollars<\/a>, which pushes the currency down.<\/p>\n<p>In energy, <a href=\"http:\/\/money.cnn.com\/2009\/12\/14\/markets\/oil.reut\/index.htm\">crude oil fell for the 9<sup>th<\/sup> straight day<\/a> largely on demand concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bad news from the Euro Zone, with Eurozone employment falling by 0.5% in the 3rd quarter, and Euro zone industrial output fell by 0.6% in October, and by 11.1% year over year.(!) We are also looking at a spike in food prices over the next year, leading to an increase in inflation that all the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,984,1200,1089],"tags":[],"class_list":["post-190286","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-europe","category-inflation","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190286"}],"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=190286"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}