{"id":192884,"date":"2009-02-10T18:17:00","date_gmt":"2009-02-10T23:17:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/10\/economics-update-284\/"},"modified":"2009-02-10T18:17:00","modified_gmt":"2009-02-10T23:17:00","slug":"economics-update-284","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/10\/economics-update-284\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

I’m not going to be writing about Geithner’s bank bailout plan here, it needs it’s own post, but I have some graph pr0n, a little update from last night’s Pelosi scary employment graph courtesy of Justin Fox<\/a> (top) and William Polley<\/a>.<\/p>\n

The first goes back 6 recessions, and the 2nd covers all of the recessions since WWII, which makes a bit busy, but they are at least as scary as last night’s graph.<\/a><\/p>\n

On to the update:<\/p>\n

It appears that the Asian economies are melt down down, with Japan’s economy is deteriorating in a way that has not been seen in 50 years<\/a>, China\u2019s exports falling by double digits<\/a>, the Taiwan dollar and Malaysian Ringgit falling<\/a>, and the IMF predicting a 4% contraction in the South Korean economy in 2009<\/a>.<\/p>\n

Meanwhile, there is a report that Russia is attempting to restructure its debts<\/a>, which is a polite way of saying that they are threatening to default.<\/p>\n

Meanwhile, Geithner’s plan, and the Senate’s approval of a stimulus, does appear to be having an effect on the markets, with oil falling<\/a>, which indicates that the oil traders do not expect to see a rapid economic turn around, and the dollar rising<\/a>, on the same information.<\/p>\n

In this case it appears to be cross purposes, but I think that the reason that the dollar is up is because people realize that the bailout makes US investments more attractive, albeit at taxpayer expense, but that is another post.<\/p>\n","protected":false},"excerpt":{"rendered":"

I’m not going to be writing about Geithner’s bank bailout plan here, it needs it’s own post, but I have some graph pr0n, a little update from last night’s Pelosi scary employment graph courtesy of Justin Fox (top) and William Polley. The first goes back 6 recessions, and the 2nd covers all of the recessions …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1170,1080,973,975,1135,1120,1188,1033],"tags":[],"class_list":["post-192884","post","type-post","status-publish","format-standard","hentry","category-china","category-currency","category-economy","category-employment","category-energy","category-far-east","category-japan","category-russia"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192884"}],"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=192884"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192884\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}