{"id":192818,"date":"2009-02-17T18:21:00","date_gmt":"2009-02-17T23:21:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/17\/economics-update-279\/"},"modified":"2009-02-17T18:21:00","modified_gmt":"2009-02-17T23:21:00","slug":"economics-update-279","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/17\/economics-update-279\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/img148.imageshack.us\/img148\/1078\/gbcchartfebruary0923981lv6.gif\" style=\"margin: 0px 10px 10px 0px; float: left; cursor: pointer;\" \/>Only a few bits of news, besides the auto bailout update, which I will cover later, but they are fairly significant.<\/p>\n<p>First, the <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/02\/empire-state-manufacturing-conditions.html\">New York Fed&#8217;s Empire State Manufacturing Index hit another record low<\/a>, though it has only been kept since July, 2001, so that&#8217;s not an enormously long time.<\/p>\n<p>On the other side of the pond, though we have rumors that <a href=\"http:\/\/business.timesonline.co.uk\/tol\/business\/economics\/article5733723.ece\">Ireland is on the brink of defaulting on its debt<\/a>, which could make things <span style=\"font-weight: bold;\">very<\/span> ugly <span style=\"font-weight: bold;\">very<\/span> quickly.<\/p>\n<p>It would likely also trigger events that would lead to defaults by other nations, the Baltic republics and Ukraine come to mind, as a rush for the doors starts.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2009\/02\/17\/markets\/oil.reut\/index.htm\">Oil is down again<\/a>, and the continued flight to safety  <a href=\"http:\/\/money.cnn.com\/2009\/02\/17\/markets\/oil_gold\/index.htm\">has driven the dollar up<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Only a few bits of news, besides the auto bailout update, which I will cover later, but they are fairly significant. First, the New York Fed&#8217;s Empire State Manufacturing Index hit another record low, though it has only been kept since July, 2001, so that&#8217;s not an enormously long time. On the other side of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1089],"tags":[],"class_list":["post-192818","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192818"}],"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=192818"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192818\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}