{"id":192391,"date":"2009-04-06T17:16:00","date_gmt":"2009-04-06T22:16:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/04\/06\/economics-update-245\/"},"modified":"2009-04-06T17:16:00","modified_gmt":"2009-04-06T22:16:00","slug":"economics-update-245","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/04\/06\/economics-update-245\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; width: 410px; float: right; text-align: center;\"><img decoding=\"async\" src=\"http:\/\/img144.imageshack.us\/img144\/7958\/jobloss320094483525.jpg\" style=\"margin: 0px; cursor: pointer;\" width=\"405\" \/><br \/><span style=\"font-style: italic;\">Scary Economic Pic of the Day Courtesy of <a href=\"http:\/\/delong.typepad.com\/sdj\/2009\/04\/justin-fox-now-job-losses-are-a-lot-worse-than-1981-1982.html\">Brad Delong<\/a><br \/><span style=\"font-size:85%;\">And, yes, the really bad line is <span style=\"font-weight: bold;\">right now<\/span><\/span><\/span><\/div>\n<p>The first bit of news is kind of &#8220;inside Baseball,&#8221; with<br \/><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=aPaJJ2KqKvgE\">the central banks of the US, UK, EU, and Switzerland agreeing to currency swaps totaling $285 billion with each other<\/a>.<\/p>\n<p>Basically this means the banks can borrow that amount from each other in various currencies and then use it to stabilize their currencies.<\/p>\n<p>Truth be told, I have no clue as to what it means, except that there have been rumblings that the Swiss are near a deflationary spiral, and might want to depress the CHF to forestall that.<\/p>\n<p>Since it looks like commodities prices are down significantly, <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=abPKnWczLQvA&amp;refer=home\">most notably copper<\/a> and <a href=\"http:\/\/www.reuters.com\/article\/businessNews\/idUSTRE5210GO20090406?feedType=RSS&amp;feedName=businessNews\">oil<\/a> over the past 6 months or so, the worries about deflation are not just an abstract concept here.<\/p>\n<p>It also looks like Canada is moving toward quantitative easing (printing money) which is <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=aOpg2kBFowQI&amp;refer=home\">pushing the Loonie down<\/a>, and <a href=\"http:\/\/www.reuters.com\/article\/companyNewsAndPR\/idUSN0642460520090406\">the dollar rose against other currencies as well<\/a>, as people moved into a perceived safe haven.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scary Economic Pic of the Day Courtesy of Brad DelongAnd, yes, the really bad line is right now The first bit of news is kind of &#8220;inside Baseball,&#8221; withthe central banks of the US, UK, EU, and Switzerland agreeing to currency swaps totaling $285 billion with each other. Basically this means the banks can borrow &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1004,1200,985],"tags":[],"class_list":["post-192391","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-finance","category-inflation","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192391"}],"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=192391"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}