{"id":194851,"date":"2008-08-14T17:15:00","date_gmt":"2008-08-14T22:15:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/14\/economics-update-393\/"},"modified":"2008-08-14T17:15:00","modified_gmt":"2008-08-14T22:15:00","slug":"economics-update-393","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/14\/economics-update-393\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p><a href=\"http:\/\/www.cnbc.com\/id\/26195546\">Weekly initial jobless claims came in higher than expected<\/a>, at 450K as opposed 432K, and the 4 week moving average is 440.5K, the highest number since 2002.<\/p>\n<p>At the same time, <a href=\"http:\/\/www.cnbc.com\/id\/26195377\">the CPI numbers are grim<\/a>, with prices up 0.8% in July, and 5.6% year over year.<\/p>\n<p>The Europeans are not doing much better, with <a href=\"http:\/\/iht.com\/articles\/2008\/08\/14\/business\/euecon.php\">GDP declining 0.2% in the 2nd quarter<\/a>.<\/p>\n<p>The European weakness, meant a Euro weakness, with the <a href=\"http:\/\/money.cnn.com\/2008\/08\/14\/markets\/dollar\/index.htm\">dollar gaining against the Euro<\/a>.<\/p>\n<p>These indications of a global slowdown have <a href=\"http:\/\/money.cnn.com\/2008\/08\/14\/markets\/oil\/\">pushed oil prices lower<\/a>, and <a href=\"http:\/\/money.cnn.com\/2008\/08\/14\/news\/economy\/fuel\/index.htm\">Gasoline is down too<\/a>.<\/p>\n<p>Don&#8217;t expect a real estate recovery to save the economy though, <a href=\"http:\/\/money.cnn.com\/2008\/08\/14\/real_estate\/foreclosures_up_in_july\/index.htm\">foreclosures are up 8% for the month, and 55% year over year<\/a>, and <a href=\"http:\/\/money.cnn.com\/2008\/08\/14\/real_estate\/quarter_three_home_prices\/index.htm?postversion=2008081410\">home prices have fallen 7.6% year over year<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Weekly initial jobless claims came in higher than expected, at 450K as opposed 432K, and the 4 week moving average is 440.5K, the highest number since 2002. At the same time, the CPI numbers are grim, with prices up 0.8% in July, and 5.6% year over year. The Europeans are not doing much better, with &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,975,1135,984,1200,1088],"tags":[],"class_list":["post-194851","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-energy","category-europe","category-inflation","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194851"}],"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=194851"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194851\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}