{"id":193102,"date":"2009-01-20T18:24:00","date_gmt":"2009-01-20T23:24:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/01\/20\/economics-update-299\/"},"modified":"2009-01-20T18:24:00","modified_gmt":"2009-01-20T23:24:00","slug":"economics-update-299","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/01\/20\/economics-update-299\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>The US dollar <a href=\"http:\/\/money.cnn.com\/2009\/01\/20\/markets\/dollar\/index.htm\">posted big gains today<\/a>, driven in part by the inauguration, but more so by <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=aZ68HiCWkWXg\">bank of Canada slashing its benchmark rate by 50 basis points<\/a> (\u00bd%), to an all time low of 1%, and the <a href=\"http:\/\/www.telegraph.co.uk\/finance\/newsbysector\/banksandfinance\/4292458\/Bank-of-England-edges-closer-to-printing-money.html\">Bank of England making noises that sound suspiciously like cranking up the printing press<\/a>.<\/p>\n<p>In real estate, the <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/01\/apartment-market-weakens-further.html\">National Multi Housing Council&#8217;s Market Tightness Index fell to 11<\/a> in the 4th quarter, down from 23 in the 3rd quarter, so there is downward pressure on rental properties too.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2009\/01\/20\/markets\/oil\/\">Oil was up<\/a>, but this was the last day for trading on this contracts for February delivery, which, coupled with the markets being closed for yesterday&#8217;s MLK holiday, puts a lot of noise into the number.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar posted big gains today, driven in part by the inauguration, but more so by bank of Canada slashing its benchmark rate by 50 basis points (\u00bd%), to an all time low of 1%, and the Bank of England making noises that sound suspiciously like cranking up the printing press. In real estate, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1004],"tags":[],"class_list":["post-193102","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193102"}],"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=193102"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193102\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}