{"id":193789,"date":"2008-11-17T20:03:00","date_gmt":"2008-11-18T01:03:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/11\/17\/economics-update-341\/"},"modified":"2008-11-17T20:03:00","modified_gmt":"2008-11-18T01:03:00","slug":"economics-update-341","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/11\/17\/economics-update-341\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

Well, in a case of stating the blatantly obvious, the Philadelphia Fed;s Survey of Professional Forecasters says that we are in a recession<\/a>, and have been since Spring, though the Conference Board has not yet chimed in on this, so it’s not yet “official”.<\/p>\n

In any case, Japan is officially in recession<\/a>. I guess that they have better record keeping than we do.<\/p>\n

In the mean time Calculated Risk’s Credit Crisis Indicator interest rate metrics are basically unchanged<\/a>.<\/p>\n

We also have some mixed numbers in industry, with post hurricane industrial production, but the New York Fed’s Empire State index of hitting its lowest level ever<\/a>.<\/p>\n

In the UK, they are seeing an explosion in jingle mail<\/a>, where mortgage holders mail their keys back to the bank, either figuratively or literally.<\/p>\n

In the US, pending sales are down from September to October, but up against last October<\/a>, which Barry Ritholtz catches, it’s really a net up, who wants to buy a house in October, but the National Association of Realtors does not get.<\/p>\n

In currency, then dollar is down on recession worries<\/a>, though my guess is also that the G20 meeting being hosted by a drooling idiot did not help.<\/p>\n

In energy, oil is at a 21-month low<\/a>, and retail gasoline prices fell for 61st straight day<\/a>, which does not surprise me, as I filled up for $1.979\/gallon yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Well, in a case of stating the blatantly obvious, the Philadelphia Fed;s Survey of Professional Forecasters says that we are in a recession, and have been since Spring, though the Conference Board has not yet chimed in on this, so it’s not yet “official”. In any case, Japan is officially in recession. I guess that …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1188,1088,1089],"tags":[],"class_list":["post-193789","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-japan","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193789"}],"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=193789"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193789\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}