{"id":190938,"date":"2009-10-13T17:59:00","date_gmt":"2009-10-13T22:59:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/10\/13\/economics-update-144\/"},"modified":"2009-10-13T17:59:00","modified_gmt":"2009-10-13T22:59:00","slug":"economics-update-144","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/10\/13\/economics-update-144\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, if you are a small business that relies on CIT for your credit, you have a problem, because <a href=\"http:\/\/www.cnbc.com\/\/id\/33289804\">the company&#8217;s CEO is resigning as a likely prelude to bankruptcy<\/a>. <\/p>\n<p>There are over a million small and medium sized businesses that rely on CIT for their credit.<\/p>\n<p>Additionally, the meltdown among the <span>monoliners<\/span> continues apace, with <a href=\"http:\/\/www.housingwire.com\/2009\/10\/13\/fitch-takes-assured-guaranty-down-another-notch\/\">Fitch downgrading Assured Guaranty from AA+ to AA<\/a>, which, given the fact that their business is basically renting out their credit rating, they are pretty close to &#8220;toast&#8221; status.<\/p>\n<p>Meanwhile, on the other side of the pond, <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=aGIJJ3xkbZ1A\">investor confidence in Germany has fallen for the first time in 3 months<\/a>, down to 56 September&#8217;s 57.7 and well below the forecast of 58.8.<\/p>\n<p>Meanwhile, we are seeing <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=ajtoJN3gKo6o\">increased demand for Treasuries<\/a> because foreign investors think that they have become cheap with the <a href=\"http:\/\/money.cnn.com\/2009\/10\/13\/markets\/dollar\/index.htm\">falling dollar<\/a>, and investors are expecting a rebound in the dollar when the Federal Reserve finally does tighten monetary policy.<\/p>\n<p>It appears that this optimism also <a href=\"http:\/\/money.cnn.com\/2009\/10\/13\/markets\/oil.reut\/index.htm\">pushed the price of oil to $74.15\/bbl<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, if you are a small business that relies on CIT for your credit, you have a problem, because the company&#8217;s CEO is resigning as a likely prelude to bankruptcy. There are over a million small and medium sized businesses that rely on CIT for their credit. Additionally, the meltdown among the monoliners continues apace, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,984,1004,1045,1089,985],"tags":[],"class_list":["post-190938","post","type-post","status-publish","format-standard","hentry","category-economy","category-europe","category-finance","category-insurance","category-recession","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190938"}],"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=190938"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190938\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}