{"id":190330,"date":"2009-12-09T21:54:00","date_gmt":"2009-12-10T02:54:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/12\/09\/economics-update-121\/"},"modified":"2009-12-09T21:54:00","modified_gmt":"2009-12-10T02:54:00","slug":"economics-update-121","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/12\/09\/economics-update-121\/","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\/2143\/nyo6160235510.jpg\"><img decoding=\"async\" src=\"http:\/\/img69.imageshack.us\/img69\/2143\/nyo6160235510.jpg\" bordercolor=\"white\" border=\"0\" width=\"390\" \/><\/a> <span style=\"font-style: italic;\">H\/t <a href=\"http:\/\/www.rjmatson.com\/cgi-bin\/framesdisplay.cgi?image=NYO616.jpg&amp;date=11\/18\/2009&amp;title=IRRATIONAL%20EXUBERANCE%20THEN%20AND%20NOW&amp;pub=NYO616\">New York Observer<\/a><\/span><\/div>\n<p>We have another sign of &#8220;green shoots,&#8221; with <a href=\"http:\/\/www.cnbc.com\/\/id\/34344720\">wholesale inventories rising for the first time in 13 months<\/a>.<\/p>\n<p>I&#8217;m not sure if this is a trend, or if wholesale inventories are hitting a kind of &#8220;zero bound&#8221;, where it just cannot go any lower.<\/p>\n<p>We also saw <a href=\"http:\/\/www.cnbc.com\/\/id\/34345275\">treasurys falling, and yields rising<\/a>, after a weak auction of 10 year treasuries.<\/p>\n<p>In real estate, <a href=\"http:\/\/www.cnbc.com\/\/id\/34341965\">mortgage applications hit a 2-month high<\/a>, largely on people refinancing to lock in lower rates, but more significant is the fact that the <a href=\"http:\/\/money.cnn.com\/2009\/12\/09\/real_estate\/home_value_loss\/index.htm\">best estimate of losses in home value in 2009 was $500 billion<\/a>, which, surprisingly enough is a major improvement, as home values fell $3.6 <span style=\"font-weight: bold;\">trillion<\/span>.<\/p>\n<p>In currency, the <a href=\"http:\/\/money.cnn.com\/2009\/12\/09\/markets\/dollar.reut\/index.htm\">dollar fell today<\/a>, most likely on profit taking after 3 straight days of gains, and in energy, <a href=\"http:\/\/money.cnn.com\/2009\/12\/09\/markets\/oil.reut\/index.htm\">oil fell on more reports of strengthening inventories<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Click for full size H\/t New York Observer We have another sign of &#8220;green shoots,&#8221; with wholesale inventories rising for the first time in 13 months. I&#8217;m not sure if this is a trend, or if wholesale inventories are hitting a kind of &#8220;zero bound&#8221;, where it just cannot go any lower. We also saw &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1005,1080,973,1135,1004,1088,1089],"tags":[],"class_list":["post-190330","post","type-post","status-publish","format-standard","hentry","category-business","category-currency","category-economy","category-energy","category-finance","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190330"}],"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=190330"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190330\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}