Not a great day.<\/p>\n
Consumer confidence had the largest plunge ever<\/a>, from 70.3 to 57.5, and home construction fell to a 17\u00bd year low<\/a>.<\/p>\n There are some indications that the credit freeze is relaxing, at least temporarily, the short term spread between LIBOR and Treasuries has dropped a bit<\/a>.<\/p>\n I’m not sure that there is a real thaw, as evidenced by the fact that hedge funds are hemorrhaging money and investors<\/a>.<\/p>\n The dollar, meanwhile was largely static today<\/a>.<\/p>\n In energy, oil is back above $70\/bbl<\/a>, but that is likely the result of OPEC holding an emergency meeting to cut production<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Not a great day. Consumer confidence had the largest plunge ever, from 70.3 to 57.5, and home construction fell to a 17\u00bd year low. There are some indications that the credit freeze is relaxing, at least temporarily, the short term spread between LIBOR and Treasuries has dropped a bit. I’m not sure that there is …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1088,1089],"tags":[],"class_list":["post-194185","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194185"}],"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=194185"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194185\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}