{"id":192676,"date":"2009-03-06T18:21:00","date_gmt":"2009-03-06T23:21:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/06\/economics-update-266\/"},"modified":"2009-03-06T18:21:00","modified_gmt":"2009-03-06T23:21:00","slug":"economics-update-266","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/06\/economics-update-266\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px 0px 0px; width: 410px; float: right;\">\n<div align=\"center\"><img decoding=\"async\" src=\"http:\/\/img222.imageshack.us\/img222\/1928\/jan09nfpdata2211943.gif\" bordercolor=\"white\" width=\"390\" border=\"0\" \/><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/img99.imageshack.us\/img99\/210\/showimage.gif\" width=\"390\" \/><span style=\"font-style: italic;\">Scary Pix Courtesy of <a href=\"http:\/\/barrons.econoday.com\/byshoweventfull.asp?fid=437987&amp;cust=barrons&amp;year=2009\">Barron\u2019s Econoday<\/a><\/span><\/div>\n<\/div>\n<p>So the <a href=\"http:\/\/www.cnbc.com\/id\/29546460\">unemployment rate jumped \u00bd% in February<\/a>, from 7.6% to 8.1%. and 651,000 jobs were lost.<\/p>\n<p>Additionally,  U6, the broadest measure of un and under employment <a href=\"http:\/\/www.bls.gov\/news.release\/empsit.t12.htm\">is at 14.8%<\/a>, and note that U6 is the statistic <span style=\"font-weight: bold;\">closest<\/span> to the 20+% unemployment rates recorded in the great depression.<br \/>&#8230;.<br \/>Delightful.<\/p>\n<p>If that weren&#8217;t bad enough, <a href=\"http:\/\/www.loanperformance.com\/loanperformance_hpi.aspx?utm_source=newsletterdb&amp;utm_medium=1st-party-email&amp;utm_campaign=Q109-negative-equity#NegEqReport\">20% of all mortgaged properties are under water<\/a>, and <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2009\/03\/05\/AR2009030501354.html?hpid=topnews\">something around 1 in 9 mortgages are either in foreclosure or delinquent<\/a>, so any turn around in residential real estate is are greatly exaggerated.<\/p>\n<p>It also looks like <a href=\"http:\/\/online.wsj.com\/article\/SB123630125365247061.html\">the FDIC is asking Congress to lend it $500 billion<\/a>, because its insurance fund is depleted.<\/p>\n<p>We do have Baltic Dry Index, a measure of the demand for cargo shipping, <span style=\"font-weight: bold;\">one<\/span> piece of good news, in that the <a href=\"http:\/\/ftalphaville.ft.com\/blog\/2009\/03\/06\/53299\/the-baltic-dry-index-marches-on-for-now\/?source=rss\">just hit its highest level this year<\/a>, which indicates more international trade.<\/p>\n<p>Meanwhile, the jump in unemployment has driven the <a href=\"http:\/\/money.cnn.com\/2009\/03\/06\/markets\/dollar.reut\/index.htm\">dollar down<\/a>, and <a href=\"http:\/\/money.cnn.com\/2009\/03\/06\/markets\/oil.reut\/index.htm\">oil up<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scary Pix Courtesy of Barron\u2019s Econoday So the unemployment rate jumped \u00bd% in February, from 7.6% to 8.1%. and 651,000 jobs were lost. Additionally, U6, the broadest measure of un and under employment is at 14.8%, and note that U6 is the statistic closest to the 20+% unemployment rates recorded in the great depression.&#8230;.Delightful. If &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[998,1080,973,975,1135,1004,1045,1016,1089,985],"tags":[],"class_list":["post-192676","post","type-post","status-publish","format-standard","hentry","category-congress","category-currency","category-economy","category-employment","category-energy","category-finance","category-insurance","category-international-commerce","category-recession","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192676"}],"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=192676"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192676\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}