{"id":194877,"date":"2008-08-12T17:19:00","date_gmt":"2008-08-12T22:19:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/12\/economics-update-395\/"},"modified":"2008-08-12T17:19:00","modified_gmt":"2008-08-12T22:19:00","slug":"economics-update-395","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/08\/12\/economics-update-395\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.marketwatch.com\/news\/story\/economic-report-us-trade-deficit\/story.aspx?guid=%7B5438B416-3206-47C2-BE87-1270D532A289%7D&amp;dist=hpts\">U.S. trade deficit unexpectedly fell in June<\/a>, though I wonder how much of that will go away now that the dollar is about 6% stronger than it was that month.<\/p>\n<p>I just wonder when people are going to start noticing that the Fed is printing money like a SOB with it&#8217;s aid to the financial industry. <\/p>\n<p>Today&#8217;s bit of additional money comes to <a href=\"http:\/\/money.cnn.com\/2008\/08\/12\/news\/economy\/bc.apfn.fed.creditcrisis.ap\/index.htm?postversion=2008081210\">$25 billion with their financial toxic waste for cash exchange program<\/a>, better known as the, &#8220;discount window borrowing facility&#8221;.<\/p>\n<p>The <a href=\"http:\/\/bloomberg.com\/apps\/news?pid=20602081&amp;sid=ayGvMx7mKmrs&amp;refer=benchmark_currency_rates\">dollar is down a bit today<\/a>, but I see it as profit taking, as opposed to the realization that we in the US print more money than toilet paper though.<\/p>\n<p>In energy, <a href=\"http:\/\/money.cnn.com\/2008\/08\/12\/markets\/oil\/\">oil is down<\/a>, even though BP closed its Georgia pipeline as a precaution.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2008\/08\/12\/news\/economy\/fuel.ap\/index.htm?cnn=yes\">Gasoline is down tow<\/a>, by about $0.30 from peak.<\/p>\n<p>Real estate, on the other hand, is beginning to look grim, with people finally <a href=\"http:\/\/money.cnn.com\/2008\/08\/12\/real_estate\/prime_defaults_price_drops\/index.htm?postversion=2008081208\">noticing that prime mortgages are defaulting at higher rates too<\/a>.<\/p>\n<p>It explains why <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=a9Mby5jLaO8s\">JP Morgan lost $1.5 billion on mortgage backed securities<\/a> in July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. trade deficit unexpectedly fell in June, though I wonder how much of that will go away now that the dollar is about 6% stronger than it was that month. I just wonder when people are going to start noticing that the Fed is printing money like a SOB with it&#8217;s aid to the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1040,1016],"tags":[],"class_list":["post-194877","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-former-soviet-union","category-international-commerce"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194877"}],"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=194877"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194877\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}