{"id":195617,"date":"2008-06-26T17:38:00","date_gmt":"2008-06-26T22:38:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/06\/26\/economics-update-430\/"},"modified":"2008-06-26T17:38:00","modified_gmt":"2008-06-26T22:38:00","slug":"economics-update-430","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/06\/26\/economics-update-430\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Weekly <a href=\"http:\/\/money.cnn.com\/2008\/06\/26\/news\/economy\/jobless.ap\/index.htm?postversion=2008062609\">Jobless claims hold steady at 384,000<\/a>, though the less volatile 4 week moving average went up a bit, 2,250 to 378,250.<\/p>\n<p>In energy, we have <a href=\"http:\/\/money.cnn.com\/2008\/06\/26\/markets\/oil\/index.htm?postversion=2008062611\">oil hitting a new record<\/a>.  It has broken $140\/bbl.<\/p>\n<p>Retail gasoline <a href=\"http:\/\/money.cnn.com\/2008\/06\/26\/news\/economy\/gas\/index.htm\">is flat today<\/a>.<\/p>\n<p>Existing home sales are <a href=\"http:\/\/money.cnn.com\/2008\/06\/26\/real_estate\/existing_home_sales\/index.htm?postversion=2008062611\">up for 2nd time in 10 months<\/a>, though I think that a lot of that may be short sales and REOs.<\/p>\n<p>We have the latest figures for Q1 GDP, and they <a href=\"http:\/\/www.marketwatch.com\/news\/story\/us-q1-gdp-revised-up\/story.aspx?guid=%7BA9A7361D-E017-44B1-A2E5-E6C80B83CDCF%7D&amp;dist=msr_1\">show that GDP increased at a 1% annual rate<\/a>.  Note that core inflation was 2.3%, and 1% minus 2.3% does <span style=\"font-weight: bold;\">not<\/span> give one a positive number.<\/p>\n<p>It&#8217;s more spending on food and fuel, not real growth.<\/p>\n<p>All this news has <a href=\"http:\/\/money.cnn.com\/2008\/06\/26\/markets\/dollar.ap\/index.htm?postversion=2008062609\">the dollar down a bit<\/a>, and I&#8217;m sure that <a href=\"http:\/\/iht.com\/articles\/2008\/06\/25\/business\/ecb.php\">European Central Bank President Jean-Claude Trichet strongly implying more rate hikes<\/a> did hastened the decline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Weekly Jobless claims hold steady at 384,000, though the less volatile 4 week moving average went up a bit, 2,250 to 378,250. In energy, we have oil hitting a new record. It has broken $140\/bbl. Retail gasoline is flat today. Existing home sales are up for 2nd time in 10 months, though I think that &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1135,1089],"tags":[],"class_list":["post-195617","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-energy","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195617"}],"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=195617"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195617\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}