{"id":194285,"date":"2008-10-10T16:04:00","date_gmt":"2008-10-10T21:04:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/10\/economics-update-365\/"},"modified":"2008-10-10T16:04:00","modified_gmt":"2008-10-10T21:04:00","slug":"economics-update-365","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/10\/economics-update-365\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Let&#8217;s start with the fact that this has been a <a href=\"http:\/\/en.wikipedia.org\/wiki\/TEOTWAWKI\">TEOTWAWKI<\/a> week.<\/p>\n<p>That being said, we are seeing <a href=\"http:\/\/www.reuters.com\/article\/bondsNews\/idUSN0967777020081009\">a huge increase in borrowing from the Fed Discount window<\/a>, as a part of the Fed&#8217;s sh^%pile for cash program.<\/p>\n<p>OTOH, <a href=\"http:\/\/money.cnn.com\/2008\/10\/09\/news\/economy\/jobless_claims\/index.htm\">jobless claims did fall a bit<\/a>, to 475,000 though they were at 7 year highs to begin with, and job creation is lagging.<\/p>\n<p>Also, <a href=\"http:\/\/money.cnn.com\/2008\/10\/10\/markets\/oil_prices.ap\/index.htm\">Oil fell to $82\/bbl<\/a>, the lowest in a year and <a href=\"http:\/\/money.cnn.com\/2008\/10\/09\/news\/economy\/gas_prices\/index.htm\">gasoline is heading down too<\/a>.<\/p>\n<p>Also, the <a href=\"http:\/\/money.cnn.com\/2008\/10\/10\/markets\/dollar\/index.htm\">dollar continues to climb<\/a>, as is the Yen.<\/p>\n<p>In real estate, we are seeing <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&amp;sid=aicK14qdLbWQ\">mall vacancies skyrocket<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s start with the fact that this has been a TEOTWAWKI week. That being said, we are seeing a huge increase in borrowing from the Fed Discount window, as a part of the Fed&#8217;s sh^%pile for cash program. OTOH, jobless claims did fall a bit, to 475,000 though they were at 7 year highs to &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,975,1004],"tags":[],"class_list":["post-194285","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194285"}],"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=194285"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194285\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}