{"id":195556,"date":"2008-06-30T17:29:00","date_gmt":"2008-06-30T22:29:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/06\/30\/economics-update-428\/"},"modified":"2008-06-30T17:29:00","modified_gmt":"2008-06-30T22:29:00","slug":"economics-update-428","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/06\/30\/economics-update-428\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>I&#8217;ve been saying this for a while, but as I am an engineer, not an economist, dammit,<sup>*<\/sup>, but still, I have to wonder why it&#8217;s taken so long for the <a href=\"http:\/\/online.wsj.com\/article\/SB121482012286515509.html\">Bank for International Settlements to see that the world economy is in serious trouble<\/a>, with a possibility of a world wide recession.<\/p>\n<p>When one considers spiking <a href=\"http:\/\/money.cnn.com\/2008\/06\/30\/markets\/oil_prices.ap\/index.htm\">oil prices<\/a> and <a href=\"http:\/\/money.cnn.com\/2008\/06\/30\/news\/economy\/gas\/index.htm\">a new record for gasoline prices<\/a>, the news is not going to be good.<\/p>\n<p>Given the <a href=\"http:\/\/money.cnn.com\/2008\/06\/30\/markets\/dollar\/index.htm\">dollar&#8217;s rather unclear future<\/a>, along with <a href=\"http:\/\/www.cnbc.com\/id\/25452035\">increased Euro-Zone inflation<\/a>, which implies more rate hikes, and hence downward pressure on the dollar, things are pretty twitchy out there.<\/p>\n<p>The <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;refer=&amp;sid=aRpr2sviQ_2o\">Chicago Purchasing Manager Index is up<\/a>, to 49.6 from 49.1 last month, but any number below 50 still represents a contraction.<\/p>\n<p>We can wait for tomorrow&#8217;s Institute for Supply Management&#8217;s June manufacturing survey to get a better picture.<\/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>I&#8217;ve been saying this for a while, but as I am an engineer, not an economist, dammit,*, but still, I have to wonder why it&#8217;s taken so long for the Bank for International Settlements to see that the world economy is in serious trouble, with a possibility of a world wide recession. When one considers &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1135,1200,1089],"tags":[],"class_list":["post-195556","post","type-post","status-publish","format-standard","hentry","category-economy","category-energy","category-inflation","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195556"}],"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=195556"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195556\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}