{"id":194371,"date":"2008-09-29T16:49:00","date_gmt":"2008-09-29T21:49:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/09\/29\/oh-my-god-economics-update\/"},"modified":"2008-09-29T16:49:00","modified_gmt":"2008-09-29T21:49:00","slug":"oh-my-god-economics-update","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/09\/29\/oh-my-god-economics-update\/","title":{"rendered":"Oh My God Economics Update"},"content":{"rendered":"<p>I normally don&#8217;t note stock market swings, but <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/markets\/markets_newyork\/index.htm?postversion=2008092917\">778 points after House &#8216;Phants kill the Paulson bailout bill<\/a>?<\/p>\n<p>Surprisingly, the <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/markets\/dollar\/index.htm?postversion=2008092917\">dollar is up<\/a> and <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/markets\/oil\/index.htm?postversion=2008092917\">oil is down<\/a>.<\/p>\n<p>Money with half a brain should be fleeing in the other direction, but it appears that European banks are in real trouble too, because their governments are <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/news\/international\/Europebanks_bailout.ap\/index.htm?postversion=2008092911\">bailing a bunch of them out<\/a>.<\/p>\n<p>Not that US banks are doing much better, with <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/news\/companies\/wachovia_citigroup\/index.htm?postversion=2008092916\">Citi getting the bits of Wachovia for magic beans<\/a>.<\/p>\n<p>So not both the <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/news\/economy\/fed_steps.ap\/index.htm?postversion=2008092911\">US Federal Reserve<\/a> and <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/news\/international\/Europe_banks.ap\/index.htm\">various foreign central banks<\/a> are shoveling money out the door.<\/p>\n<p>Meanwhile, Iceland did what Paulson should have, when it nationalized the <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/news\/international\/Iceland_glitnir.ap\/index.htm\">Glitnir bank<\/a>, as  has the UK, which has <a href=\"http:\/\/money.cnn.com\/2008\/09\/29\/news\/international\/bradford.ap\/index.htm\">nationalized mortgage lender Bradford &amp; Bingley<\/a>.<\/p>\n<p><span style=\"font-size:78%;\"><br \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I normally don&#8217;t note stock market swings, but 778 points after House &#8216;Phants kill the Paulson bailout bill? Surprisingly, the dollar is up and oil is down. Money with half a brain should be fleeing in the other direction, but it appears that European banks are in real trouble too, because their governments are bailing &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1089],"tags":[],"class_list":["post-194371","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194371"}],"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=194371"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194371\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}