{"id":190352,"date":"2009-12-07T20:06:00","date_gmt":"2009-12-08T01:06:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/12\/07\/economics-update-123\/"},"modified":"2009-12-07T20:06:00","modified_gmt":"2009-12-08T01:06:00","slug":"economics-update-123","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/12\/07\/economics-update-123\/","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:\/\/img13.imageshack.us\/img13\/4917\/consumercreditoct200999.jpg\"><img decoding=\"async\" src=\"http:\/\/img13.imageshack.us\/img13\/4917\/consumercreditoct200999.jpg\" bordercolor=\"white\" border=\"0\" width=\"390\" \/><\/a> <span style=\"font-style: italic;\">Falling Consumer Credit, H\/t <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/12\/consumer-credit-declines-for-9th.html\">Calculated Risk<\/a><\/span><\/div>\n<p>So, <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=af7H1B.73URs\">consumer credit continues its decline<\/a>, down $3.51 billion in October, a 1.7% annual rate, so the 70% of the economy that is consumer spending is still contracting in what exonomists call the &#8220;paradox of thrift.&#8221;<\/p>\n<p>In energy, <a href=\"http:\/\/www.cnbc.com\/id\/34305532?__source=RSS*tag*&amp;par=RSS\">oil fell to less than $74\/bbl<\/a>, while in currency, the <a href=\"http:\/\/money.cnn.com\/2009\/12\/07\/markets\/dollar.reut\/index.htm\">dollar hit a 5-week high<\/a>, largely on the employment numbers from last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Click for full size Falling Consumer Credit, H\/t Calculated Risk So, consumer credit continues its decline, down $3.51 billion in October, a 1.7% annual rate, so the 70% of the economy that is consumer spending is still contracting in what exonomists call the &#8220;paradox of thrift.&#8221; In energy, oil fell to less than $74\/bbl, while &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-190352","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\/190352"}],"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=190352"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190352\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}