{"id":193596,"date":"2008-12-04T19:45:00","date_gmt":"2008-12-05T00:45:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/04\/economics-update-330\/"},"modified":"2008-12-04T19:45:00","modified_gmt":"2008-12-05T00:45:00","slug":"economics-update-330","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/04\/economics-update-330\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>First, <a href=\"http:\/\/calculatedrisk.blogspot.com\/2008\/12\/credit-crisis-indicators_04.html\">Calculated Risk&#8217;s Credit Crisis Indicators<\/a> are either flat or down, and the 3 month treasure note is still at 0.005%, which means that people basically put their cash in a mattress, so that is how freaked investors are, and how much they look for a safe haven.<\/p>\n<p>Of course, what with the <a href=\"http:\/\/www.bankofengland.co.uk\/publications\/news\/2008\/121.htm\">Bank of England cutting its rate by 100 basis points to 2%<\/a>, it&#8217;s not like there is a whole bunch out there that is going to generate decent return anyway.<\/p>\n<p>The <a href=\"http:\/\/money.cnn.com\/2008\/12\/04\/news\/economy\/jobless_claims\/?postversion=2008120409\">weekly jobless claims posted a surprise drop<\/a>, but continuing claims rose to a 26 year high.<\/p>\n<p>Additionally, we have <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=ajTjoOucRCyI\">factory orders falling by the most in 8 years<\/a>, which is completely unsurprising, as factories do not order much if <a href=\"http:\/\/www.guardian.co.uk\/business\/2008\/dec\/04\/useconomy-walmart\">consumers are not buying<\/a>, and we are seeing double digit drops in buying this holiday season.<\/p>\n<p>Considering that demand for commodities is falling with the economy, it&#8217;s not a surprise that <a href=\"http:\/\/money.cnn.com\/2008\/12\/04\/markets\/oil\/index.htm\">oil has fallen to less than $44\/bbl<\/a>, and <a href=\"http:\/\/money.cnn.com\/2008\/12\/04\/news\/economy\/gas\/index.htm\">retail gasoline price has falls below $1.80\/gallon<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First, Calculated Risk&#8217;s Credit Crisis Indicators are either flat or down, and the 3 month treasure note is still at 0.005%, which means that people basically put their cash in a mattress, so that is how freaked investors are, and how much they look for a safe haven. Of course, what with the Bank 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":[973,975,1135,1004,1089],"tags":[],"class_list":["post-193596","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-energy","category-finance","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193596"}],"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=193596"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193596\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}