{"id":190891,"date":"2009-10-17T15:54:00","date_gmt":"2009-10-17T20:54:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/10\/17\/economics-update-a-day-late-10\/"},"modified":"2009-10-17T15:54:00","modified_gmt":"2009-10-17T20:54:00","slug":"economics-update-a-day-late-10","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/10\/17\/economics-update-a-day-late-10\/","title":{"rendered":"Economics Update (a Day Late)"},"content":{"rendered":"
Click for full size<\/p>\n
\n

<\/a> H\/T Calculated Risk<\/a> for the Graph Pr0n<\/p>\n

<\/a>
Yeah, CR again, this time LA Port Traffic
<\/span><\/div>\n

Notwithstanding green shoots, it still appears that consumers, who account for 70% of GDP,*<\/sup> remain pessimistic, with the Consumer Sentiment Index falling to 69.4<\/a>, down from August’s 73.5, and well below the forecast that the number would be flat.<\/p>\n

On the other hand, industrial production rose 0.7% in September<\/a>, and capacity utilization (see top graph) rose to 70.5%.<\/p>\n

You also have a secondary indicator of the economy, port traffic for the LA\/Long Beach ports continues to fall<\/a>.<\/p>\n

Additionally, the banks who actually do make loans to real people, as opposed to the Wall Street parasites, are not doing well, with Bank of America posting a loss<\/a>, and credit card delinquencies are rising<\/a>.<\/p>\n

Wall Street may be doing fine, but main street is still being hammered.<\/p>\n

Meanwhile, in energy, the industrial production numbers drove oil to a 12-month high<\/a>, and the US dollar recovered a bit<\/a>, though it is still down for the week<\/p>\n

*<\/sup>Or maybe not, see here<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Click for full size H\/T Calculated Risk for the Graph Pr0n Yeah, CR again, this time LA Port Traffic Notwithstanding green shoots, it still appears that consumers, who account for 70% of GDP,* remain pessimistic, with the Consumer Sentiment Index falling to 69.4, down from August’s 73.5, and well below the forecast that the number …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1094,1080,973,1135,1016,1089],"tags":[],"class_list":["post-190891","post","type-post","status-publish","format-standard","hentry","category-campaign-finance","category-currency","category-economy","category-energy","category-international-commerce","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190891"}],"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=190891"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190891\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}