{"id":191337,"date":"2009-09-01T20:19:00","date_gmt":"2009-09-02T01:19:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/01\/economics-update-159\/"},"modified":"2009-09-01T20:19:00","modified_gmt":"2009-09-02T01:19:00","slug":"economics-update-159","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/01\/economics-update-159\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; width: 410px; float: right; text-align: center;\"><a href=\"http:\/\/img190.imageshack.us\/img190\/3554\/autoaug29064402.jpg\"><img decoding=\"async\" src=\"http:\/\/img190.imageshack.us\/img190\/3554\/autoaug29064402.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><\/a> <a href=\"http:\/\/img42.imageshack.us\/img42\/3048\/autoaug19070592.jpg\"><img decoding=\"async\" src=\"http:\/\/img42.imageshack.us\/img42\/3048\/autoaug19070592.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><\/a> <span style=\"font-style: italic;\">Auto Sales Graph Pr0n Courtesy Calculated Risk<\/p>\n<p><a href=\"http:\/\/img25.imageshack.us\/img25\/8462\/constructionspendingjul.jpg\"><img decoding=\"async\" src=\"http:\/\/img25.imageshack.us\/img25\/8462\/constructionspendingjul.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><\/a><a href=\"http:\/\/img193.imageshack.us\/img193\/8462\/constructionspendingjul.jpg\"><img decoding=\"async\" src=\"http:\/\/img193.imageshack.us\/img193\/8462\/constructionspendingjul.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><\/a> Construction Spending Pron Also Courtesy of Calculated Risk<\/span><\/div>\n<p><a href=\"http:\/\/img193.imageshack.us\/img193\/8462\/constructionspendingjul.jpg\">As is noted by <\/a><a href=\"http:\/\/www.calculatedriskblog.com\/2009\/09\/light-vehicle-sales-141-million-saar-in.html\">Calculated Risk<\/a>, light vehicle sales hit a 1\u00bc year high in August, but that was with the Cash for Clunkers program, which is now over, which begs the question, &#8220;What happens in September?&#8221;<\/p>\n<p>I think that the trend is generally up, because the sales were so low that the fleet replacement time (fleet size\/sales) was approaching 30 years, which is simply unsustainable. (click images for full size)<\/p>\n<p>It should also be noted that for all the claims of recovery, both <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/09\/construction-spending-in-july.html\">residential and non-residential construction spending continues to decline<\/a>.<\/p>\n<p>Additionally, notwithstanding the &#8220;green shoots&#8221;, the <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=apG_YeCYUyEg\">bond market is pricing in some very hard times ahead<\/a>, with US Treasuries rising in price, which drops their yield.<\/p>\n<p>This sentiment is also serving to <a href=\"http:\/\/money.cnn.com\/2009\/09\/01\/markets\/dollar.reut\/index.htm\">drive the Yen and the dollar higher<\/a>, and <a href=\"http:\/\/money.cnn.com\/2009\/09\/01\/markets\/oil.reut\/index.htm\">crude oil lower<\/a>, as people look for a safe haven.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Auto Sales Graph Pr0n Courtesy Calculated Risk Construction Spending Pron Also Courtesy of Calculated Risk As is noted by Calculated Risk, light vehicle sales hit a 1\u00bc year high in August, but that was with the Cash for Clunkers program, which is now over, which begs the question, &#8220;What happens in September?&#8221; I think that &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1108,1080,973,1135,1004,1088],"tags":[],"class_list":["post-191337","post","type-post","status-publish","format-standard","hentry","category-auto-industry","category-currency","category-economy","category-energy","category-finance","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191337"}],"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=191337"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191337\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}