{"id":193032,"date":"2009-01-26T18:16:00","date_gmt":"2009-01-26T23:16:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/01\/26\/economics-update-295\/"},"modified":"2009-01-26T18:16:00","modified_gmt":"2009-01-26T23:16:00","slug":"economics-update-295","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/01\/26\/economics-update-295\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

Consumer confidence just fell again, and hit an all time low<\/a>, 37.7, the lowest number since the Conference Board started keeping records in 1967.<\/p>\n

What with the Case-Shiller<\/span> index showing a November home price drop of 18.2% year over year<\/a>, and California home prices falling a staggering 42% year over year<\/a> along with word of that there have been 519,895 job cuts announced since election day<\/a>.<\/p>\n

It’s all a major bummer.<\/p>\n

We do have a report that Obama will direct his TARP funds toward consumers<\/a>, as opposed to the corruption orgy under Bush and His Evil Minions\u2122<\/sup>, which is good news, but it looks like Fannie Mae will need another $16 billion of that<\/a>.<\/p>\n

Meanwhile, Sweden, which handled its early 1990s banking crisis about as well as anyone, it was able to wrap up its intervention years ahead of schedule and with a profit, is looking at injecting cash into its banking system again<\/a>.<\/p>\n

Russia is looking at doing the same for its banks<\/a>.<\/p>\n

In any case, the lousy consumer confidence numbers have had the effect of driving oil down<\/a>, and scaring people into fleeing to the safety of the dollar, which drove the buck up<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Consumer confidence just fell again, and hit an all time low, 37.7, the lowest number since the Conference Board started keeping records in 1967. What with the Case-Shiller index showing a November home price drop of 18.2% year over year, and California home prices falling a staggering 42% year over year along with word of …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,975,1135,1004,1089,985],"tags":[],"class_list":["post-193032","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-energy","category-finance","category-recession","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193032"}],"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=193032"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193032\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}