{"id":192582,"date":"2009-03-17T17:18:00","date_gmt":"2009-03-17T22:18:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/17\/economics-update-259\/"},"modified":"2009-03-17T17:18:00","modified_gmt":"2009-03-17T22:18:00","slug":"economics-update-259","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/17\/economics-update-259\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Credit card defaults have <a href=\"http:\/\/www.reuters.com\/article\/hotStocksNews\/idUSTRE52F75620090316\">hit a 20 year high<\/a>, which implies to me that the unemployment numbers when they come out are going to show further contraction.<\/p>\n<p>Housing Starts <a href=\"http:\/\/www.reuters.com\/article\/businessNews\/idUSTRE52G2RK20090317\">were up 22% from January in February<\/a>, though the headline on the link, &#8220;U.S. Housing Starts Rebound,&#8221; is simply nonsensical, as <a href=\"http:\/\/www.ritholtz.com\/blog\/2009\/03\/bad-headline-of-the-day-us-housing-starts-rebound\/\">Barry Ritholtz notes<\/a>, single family building remained flat, it was people building multi-residential properties, and even with the gain, the number is down 50% year over year.<\/p>\n<p>Calculated Risk&#8217;s <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/03\/credit-crisis-indicators.html\">Credit Crisis Indicators<\/a> are showing modest improvement, though they all remain at troubling levels.<\/p>\n<p>In energy, <a href=\"http:\/\/money.cnn.com\/2009\/03\/17\/markets\/oil.reut\/index.htm\">oil hit a new high for the year<\/a>, approaching nearly $50\/bbl, and in currency, they <a href=\"http:\/\/money.cnn.com\/2009\/03\/17\/markets\/dollar.reut\/index.htm\">dollar was down only marginally<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit card defaults have hit a 20 year high, which implies to me that the unemployment numbers when they come out are going to show further contraction. Housing Starts were up 22% from January in February, though the headline on the link, &#8220;U.S. Housing Starts Rebound,&#8221; is simply nonsensical, as Barry Ritholtz notes, single family &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1004,1089],"tags":[],"class_list":["post-192582","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-finance","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192582"}],"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=192582"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}