{"id":191635,"date":"2009-07-17T16:48:00","date_gmt":"2009-07-17T21:48:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/17\/economics-update-178\/"},"modified":"2009-07-17T16:48:00","modified_gmt":"2009-07-17T21:48:00","slug":"economics-update-178","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/17\/economics-update-178\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p><a href=\"http:\/\/www.calculatedriskblog.com\/2009\/07\/housing-starts-increase-in-june-from.html\"><img decoding=\"async\" src=\"http:\/\/img22.imageshack.us\/img22\/1204\/housingstartjune2009303.jpg\" style=\"margin: 0px 0px 10px 10px; float: right; cursor: pointer;\" width=\"400\" \/><\/a><a href=\"http:\/\/www.calculatedriskblog.com\/2009\/07\/housing-starts-increase-in-june-from.html\">Housing starts rose from May to June<\/a>, but as Barry Ritholtz notes, &#8220;<a href=\"http:\/\/www.ritholtz.com\/blog\/2009\/07\/housing-starts-fall-46\/\">The year-over-year data is much clearer: New Starts down 46%, Permits down 52%<\/a>.&#8221; (The graph to the right illustrates this pretty well)<\/p>\n<p>In either case, the housing data was better than expected, which <a href=\"http:\/\/money.cnn.com\/2009\/07\/17\/markets\/oil.reut\/index.htm\">drove oil up<\/a>, <a href=\"http:\/\/money.cnn.com\/2009\/07\/17\/markets\/bondcenter\/bonds.reut\/index.htm\">bonds down<\/a> (and thus their yields rose), and <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=amx8etLiGxdQ\">increased the spread between the 2 and 10 year notes<\/a>.<\/p>\n<p>The <a href=\"http:\/\/money.cnn.com\/2009\/07\/17\/markets\/dollar.reut\/index.htm\">dollar rose today<\/a>, but both <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=amvJC24IlSP4\">the dollar and Yen have fallen more this week than they have since May<\/a>, indicating an increase appetite for risk.<\/p>\n<p>Still, the number that worries me is the fact that <a href=\"http:\/\/www.cnbc.com\/\/id\/31952926\">June video game sales are at a 9 year low<\/a>.<\/p>\n<p>When gaming geeks are cutting back, <span style=\"font-weight: bold;\">everyone<\/span> is cutting back.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housing starts rose from May to June, but as Barry Ritholtz notes, &#8220;The year-over-year data is much clearer: New Starts down 46%, Permits down 52%.&#8221; (The graph to the right illustrates this pretty well) In either case, the housing data was better than expected, which drove oil up, bonds down (and thus their yields rose), &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1088,1089],"tags":[],"class_list":["post-191635","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191635"}],"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=191635"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191635\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}