{"id":195396,"date":"2008-07-11T17:30:00","date_gmt":"2008-07-11T22:30:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/11\/economics-update-419\/"},"modified":"2008-07-11T17:30:00","modified_gmt":"2008-07-11T22:30:00","slug":"economics-update-419","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/11\/economics-update-419\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, it appears that it&#8217;s been an unsettled day, likely because of concerns about the GSE(s), which will get its own post, and as a result, <a href=\"http:\/\/www.cnbc.com\/id\/25629793\">oil hit a new intra day high, $47.50\/bbl<\/a>, before settling to $143.84\/bbl.<\/p>\n<p>Note that in addition to uncertainty in Iran and Nigeria, there is now a possibility of a strike in Brazil.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2008\/07\/11\/news\/economy\/gasoline\/index.htm\">Gasoline prices fell though<\/a>, finishing below $4.10\/gal for the first time in a week.<\/p>\n<p>In currency, <a href=\"http:\/\/money.cnn.com\/2008\/07\/11\/markets\/dollar.ap\/index.htm\">uncertainty has driven the dollar down<\/a>, but there is a bit of a bright side to all of this, because <a href=\"http:\/\/money.cnn.com\/2008\/07\/11\/news\/economy\/trade_gap.ap\/index.htm?postversion=2008071109\">the falling dollar is pushing the trade deficit down<\/a>.<\/p>\n<p>The problem is that once the dollar settles down to a more sustainable level, there will be a high inflation interregnum where imports prices will go up, but there will be no domestic businesses to pick up the slack.<\/p>\n<p>Nothing on US real estate today, but in the UK, their  <a href=\"http:\/\/www.telegraph.co.uk\/money\/main.jhtml?xml=\/money\/2008\/07\/11\/cnhousing111.xml\">housing crash is the worst since the Great Depression<\/a>.<\/p>\n<p>Additionally, we have a <a href=\"http:\/\/www.telegraph.co.uk\/money\/main.jhtml?xml=\/money\/2008\/07\/11\/cnmoney111.xml\">monetary picture that appears to point toward a vicious deflationary recession spiral<\/a>.<\/p>\n<p>Chart pr0n:<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/img150.imageshack.us\/img150\/5961\/moozi1.gif\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it appears that it&#8217;s been an unsettled day, likely because of concerns about the GSE(s), which will get its own post, and as a result, oil hit a new intra day high, $47.50\/bbl, before settling to $143.84\/bbl. Note that in addition to uncertainty in Iran and Nigeria, there is now a possibility of a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1200,1016],"tags":[],"class_list":["post-195396","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-inflation","category-international-commerce"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195396"}],"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=195396"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195396\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}