{"id":195325,"date":"2008-07-16T17:24:00","date_gmt":"2008-07-16T22:24:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/16\/economics-update-416\/"},"modified":"2008-07-16T17:24:00","modified_gmt":"2008-07-16T22:24:00","slug":"economics-update-416","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/16\/economics-update-416\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>The Consumer Price Index CPI, just<br \/><a href=\"http:\/\/www.nytimes.com\/2008\/07\/17\/business\/17econ.html?hp\">jumped 1.1% in June<\/a>.  For the past 12 months, it&#8217;s been 5.5%.<\/p>\n<p>Considering how bogus the CPI stats have become, I&#8217;d be inclined to at at least 3% to both numbers, but but I&#8217;m an engineer, not an economist, dammit!<sup>*<\/sup><\/p>\n<p>On the other hand, <a href=\"http:\/\/money.cnn.com\/2008\/07\/16\/markets\/oil\/\">oil is now down about $11 over two days<\/a>, which would explain why <a href=\"http:\/\/money.cnn.com\/2008\/07\/16\/markets\/dollar.ap\/index.htm\">the dollar is holding steady for now<\/a>, though we are not seeing any <a href=\"http:\/\/money.cnn.com\/2008\/07\/16\/news\/economy\/gas\/index.htm\">good news at the pump, as we hit a new record again<\/a>.<\/p>\n<p>Industrial production in June was <a href=\"http:\/\/money.cnn.com\/2008\/07\/16\/news\/economy\/industrial_production.ap\/index.htm?postversion=2008071609\">up by 0.05%<\/a>, which beat expectations, though part of that number was a rebound from the strike at American Axle in May.<\/p>\n<p>Mortgage applications were <a href=\"http:\/\/money.cnn.com\/2008\/07\/16\/real_estate\/mortgage_applications.ap\/index.htm?postversion=2008071610\">up 1.7% last week<\/a>, though I&#8217;m not sure how much of this is low rates, and worry about rising rates, and noise.<\/p>\n<p>Let me finish that I will have a separate post on the GSE&#8217;s and how their possible reduction\/elimination of dividends may have led to the SEC&#8217;s restrictions on naked shorting.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\">I <span style=\"font-weight: bold;\">LOVE IT<\/span> when I get to go all Doctor McCoy!!!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Consumer Price Index CPI, justjumped 1.1% in June. For the past 12 months, it&#8217;s been 5.5%. Considering how bogus the CPI stats have become, I&#8217;d be inclined to at at least 3% to both numbers, but but I&#8217;m an engineer, not an economist, dammit!* On the other hand, oil is now down about $11 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1200,1088],"tags":[],"class_list":["post-195325","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-inflation","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195325"}],"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=195325"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195325\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}