{"id":191344,"date":"2009-08-31T22:05:00","date_gmt":"2009-09-01T03:05:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/08\/31\/economics-update-160\/"},"modified":"2009-08-31T22:05:00","modified_gmt":"2009-09-01T03:05:00","slug":"economics-update-160","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/08\/31\/economics-update-160\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>The Institute for Supply Management&#8217;s Chicago Purchasers\u2019 Index beat expectations,<br \/><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=alst.0ivkm5M\">rising to 50<\/a>, where 50 is the dividing line between contraction and expansion.<\/p>\n<p>It&#8217;s the highest number since last September, but it has been goosed a bit for cash for clunkers, which has me wondering what the number will look <span style=\"font-weight: bold;\">this<\/span> September.<\/p>\n<p>I would say that we have a pretty good indicator for the cynics among us (hi there) that the stock market rally will soon be ending, as <a href=\"http:\/\/jessescrossroadscafe.blogspot.com\/2009\/08\/us-equity-markets-look-dangerously.html\">insiders are now selling their stocks 30.6 times more than they are buying<\/a>, and when the insiders sell, it generally means that some sort of disappointment is on the way.<\/p>\n<p>We are getting mixed signals from Asia, with both <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aueN99WVnakg\">Chinese<\/a> and <a href=\"http:\/\/www.nytimes.com\/2009\/05\/01\/business\/global\/01yen.html?partner=rss&amp;emc=rss&amp;pagewanted=all\">Japanese<\/a> industrial production rising, but <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=aZCuqymA2VEs\">South Korean exports falling this month, giving a 20.6% year over year drop<\/a>.<\/p>\n<p>In energy, <a href=\"http:\/\/money.cnn.com\/2009\/08\/31\/markets\/oil\/\">closed at $69.96\/bbl<\/a>, as falling stocks led to demand concerns, and in currency, the <a href=\"http:\/\/money.cnn.com\/2009\/08\/31\/markets\/dollar.reut\/index.htm\">biggest mover was the Yen<\/a>, on the election news.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Institute for Supply Management&#8217;s Chicago Purchasers\u2019 Index beat expectations,rising to 50, where 50 is the dividing line between contraction and expansion. It&#8217;s the highest number since last September, but it has been goosed a bit for cash for clunkers, which has me wondering what the number will look this September. I would say 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":[1080,973,1135,1120,1004,1016,1188],"tags":[],"class_list":["post-191344","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-far-east","category-finance","category-international-commerce","category-japan"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191344"}],"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=191344"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191344\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}