{"id":193450,"date":"2008-12-15T00:16:00","date_gmt":"2008-12-15T05:16:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/15\/weekend-economics-update\/"},"modified":"2008-12-15T00:16:00","modified_gmt":"2008-12-15T05:16:00","slug":"weekend-economics-update","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/15\/weekend-economics-update\/","title":{"rendered":"Weekend Economics Update"},"content":{"rendered":"<p>Just because it&#8217;s the end of a very long streak, I have to note that <a href=\"http:\/\/money.cnn.com\/2008\/12\/14\/news\/economy\/gas\/index.htm\">retail gasoline prices rose Sunday<\/a> from $1.66\/gal to $1.663\/gal following 86 straight days of declines.<\/p>\n<p>In currency, the <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=acQPUP.dg_JY&amp;refer=home\">dollar dropped<\/a>, largely on the entire auto industry bailout clusterf%$# that the Republicans made, and the <a href=\"http:\/\/www.guardian.co.uk\/business\/2008\/dec\/14\/euro-economic-policy-currencies-europe\">Pound fell below the Euro for the first time ever<\/a>.<\/p>\n<p>I think that the Pound breaking 1\u20ac is actually the most significant thing here.<\/p>\n<p>While &#8220;The Street&#8221; in London is smaller than Wall Street in New York, it is a much larger portion of the UK economy, and so the damage is relatively larger.<\/p>\n<p>People no longer have faith in the international institutions that are the exemplars of what is called &#8220;Anglo-Saxon Capitalism&#8221;, nor the governments that are shoveling increasingly large amounts of (soon to be debased?) currency in their direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just because it&#8217;s the end of a very long streak, I have to note that retail gasoline prices rose Sunday from $1.66\/gal to $1.663\/gal following 86 straight days of declines. In currency, the dollar dropped, largely on the entire auto industry bailout clusterf%$# that the Republicans made, and the Pound fell below the Euro for &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],"tags":[],"class_list":["post-193450","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193450"}],"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=193450"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193450\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}