{"id":195139,"date":"2008-07-27T16:23:00","date_gmt":"2008-07-27T21:23:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/27\/economics-update-407\/"},"modified":"2008-07-27T16:23:00","modified_gmt":"2008-07-27T21:23:00","slug":"economics-update-407","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/27\/economics-update-407\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Wekk, <a href=\"http:\/\/money.cnn.com\/2008\/07\/26\/news\/economy\/gas_prices\/index.htm?postversion=2008072610\">retail gasoline has finally dropped below $4.00 per gallon<\/a>, the first time in almost two months, <a href=\"http:\/\/iht.com\/articles\/reuters\/2008\/07\/27\/business\/OUKBS-UK-MARKETS-OIL.php\">oil moved very little<\/a>, depending on grade, somewhere between \u00b1$0.15\/bbl.<\/p>\n<p>Meanwhile, Nouriel Roubini is arguing that <a href=\"http:\/\/www.rgemonitor.com\/roubini-monitor\/253111\/who_is_going_to_rescue_the_hundreds_of_busted_us_banks_dont_count_on_suckering_again_the_foreign_governments_the_sovereign_wealth_funds_and_the_biggest_fire_sale_in_the_history_of_humanity\">foreign central banks and sovereign wealth funds are increasingly less willing to take huge losses in order to bail the USA&#8217;s financial system out<\/a>, and that this will lead to a systemic collapse, with, &#8220;ensuing fall of the U.S. will make this fire sale of the best U.S. private asset a true bargain basement deal: with the dollar price of these assets now imploding and with the U.S. dollar now in free fall non-residents will be able to buy most of U.S. Inc. for the cheapest bargain.&#8221;<\/p>\n<p>One final note, and some information that shocked me, is the <a href=\"http:\/\/www.cnbc.com\/id\/25851149\">amount which short sales decreased in financial stocks as a result of the new SEC rules banning &#8220;naked&#8221; short selling<\/a>: 98%.<\/p>\n<p>S3 Matching Technologies is reporting that short sales in the newly regulated stocks <strong>fell by a factor of 50<\/strong>, which is far more than I would have expected.<\/p>\n<p>Even if some of the decline in short sales was investors who were spooked by the new rules, it&#8217;s clear that the overwhelming number of short sellers are engaging in &#8220;naked&#8221; shorting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wekk, retail gasoline has finally dropped below $4.00 per gallon, the first time in almost two months, oil moved very little, depending on grade, somewhere between \u00b1$0.15\/bbl. Meanwhile, Nouriel Roubini is arguing that foreign central banks and sovereign wealth funds are increasingly less willing to take huge losses in order to bail the USA&#8217;s financial &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1016,985],"tags":[],"class_list":["post-195139","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-international-commerce","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195139"}],"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=195139"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195139\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}