{"id":194781,"date":"2008-08-19T17:26:00","date_gmt":"2008-08-19T22:26:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/19\/economics-update-389\/"},"modified":"2008-08-19T17:26:00","modified_gmt":"2008-08-19T22:26:00","slug":"economics-update-389","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/19\/economics-update-389\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=aArLqb.zZlKM&amp;refer=home\">the producer price index rose 1.2% in July<\/a>, that comes to about 15% inflation, and the <a href=\"http:\/\/money.cnn.com\/2008\/08\/19\/news\/economy\/producer_prices\/index.htm\">year over year rate was 9.8%<\/a>.<\/p>\n<p>Inflation is back&#8230;.Truth be told, it was never gone, it&#8217;s just that the government statistics concealed it, and we are now running into the limits of such accounting artistry.<\/p>\n<p>We also are seeing <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;refer=home&amp;sid=aVXwPN7WNXwo\">housing starts at a 17 year low<\/a>, so it looks like stagflation to me.<\/p>\n<p>I just hope that it isn&#8217;t an Argentina\/USSR style collapse.<\/p>\n<p>I would note that a lot of this inflation is commodities, and they are down.<\/p>\n<p>Both <a href=\"http:\/\/money.cnn.com\/2008\/08\/19\/markets\/oil\/\">oil<\/a> and <a href=\"http:\/\/money.cnn.com\/2008\/08\/19\/news\/economy\/fuel\/index.htm\">gasoline<\/a> (33rd straight day) fell again.<\/p>\n<p>That being said, the <a href=\"http:\/\/money.cnn.com\/2008\/08\/19\/markets\/dollar\/index.htm\">dollar was down again today<\/a>.  Those inflation numbers probably scared traders.<\/p>\n<p>Finally it looks like <a href=\"http:\/\/www.nytimes.com\/2008\/08\/19\/business\/19lehman.html?em\">Lehman may be forced to sell its money management division<\/a> in order to raise capital to offset its losses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>the producer price index rose 1.2% in July, that comes to about 15% inflation, and the year over year rate was 9.8%. Inflation is back&#8230;.Truth be told, it was never gone, it&#8217;s just that the government statistics concealed it, and we are now running into the limits of such accounting artistry. We also are seeing &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1004,1200,1088,1089,992],"tags":[],"class_list":["post-194781","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-finance","category-inflation","category-real-estate","category-recession","category-statistics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194781"}],"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=194781"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194781\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}