{"id":192761,"date":"2009-02-24T22:47:00","date_gmt":"2009-02-25T03:47:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/24\/economics-update-274\/"},"modified":"2009-02-24T22:47:00","modified_gmt":"2009-02-25T03:47:00","slug":"economics-update-274","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/24\/economics-update-274\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, the Conference Board&#8217;s consumer confidence report came out and <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aL6kjgG.mveU&amp;refer=home\">it is starkly grim<\/a>, dropping to a record low of 25, lower than had been predicted.<\/p>\n<p>BTW, it&#8217;s not just us, <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aIW2UV2H0ZbA&amp;refer=home\">German business confidence has fallen<\/a>, and <a href=\"http:\/\/ftalphaville.ft.com\/blog\/2009\/02\/24\/52846\/latvia-junked\/?source=rss\"> Standard &amp; Poor\u2019s lowered Latvia&#8217;s debt rating to junk<\/a>.<\/p>\n<p>This means that German businesses have no confidence in the new future, and no one has any confidence in Latvia.<\/p>\n<p>Even the New York Stock Exchange is getting in the act, looking at <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aAvFOhfgN4ME&amp;refer=home\">temporarily suspending a requirement of a $1\/share price<\/a> in order to avoid delisting&#8230;.I call it a Citi Special, though the two most prominent companies at risk of delisting right now are AIG and Ford.<\/p>\n<p>The fact that the <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=a3ArfwXFeZJM&amp;refer=home\">Case-Shiller numbers for the top 20 real estate markets show a price decline of 18.5%<\/a> year over year, has a lot to do with that.<\/p>\n<p>In currency, <a href=\"http:\/\/money.cnn.com\/2009\/02\/24\/markets\/dollar\/index.htm\">the dollar fell a bit<\/a>, while in energy, <a href=\"http:\/\/money.cnn.com\/2009\/02\/24\/markets\/oil.reut\/index.htm\">oil rose<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, the Conference Board&#8217;s consumer confidence report came out and it is starkly grim, dropping to a record low of 25, lower than had been predicted. BTW, it&#8217;s not just us, German business confidence has fallen, and Standard &amp; Poor\u2019s lowered Latvia&#8217;s debt rating to junk. This means that German businesses have no confidence in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,984,1004,1088,1089],"tags":[],"class_list":["post-192761","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-europe","category-finance","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192761"}],"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=192761"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192761\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}