{"id":196159,"date":"2008-05-20T20:39:00","date_gmt":"2008-05-21T01:39:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/05\/20\/economics-update-456\/"},"modified":"2008-05-20T20:39:00","modified_gmt":"2008-05-21T01:39:00","slug":"economics-update-456","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/05\/20\/economics-update-456\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>In inflation, it appears that <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aNip2xfwTuT8&amp;refer=home\">producer prices may be a problem<\/a>  (also <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&amp;refer=us&amp;sid=aLrUGhfE0OHk\">here<\/a>), with the overall rate going up by .2%, and the core rate going up by 0.4%.<\/p>\n<p>Of interest is that the first link, from Bloomberg, basically casts it as a &#8220;low inflation&#8221; story, and the second link casts it as a &#8220;high inflation&#8221; story.  I&#8217;ll explain why the latter is wrong in a bit.<\/p>\n<p>In any case, the market saw the rate as low, which <a href=\"http:\/\/www.marketwatch.com\/news\/story\/dollar-weakens-further-after-us\/story.aspx?guid=%7BEB447C4E-85F8-4F56-A42B-CD781BB94E9E%7D&amp;dist=msr_4\">drove the dollar down in expectation of further rate cuts in the US<\/a>, and the expectation of rate hikes in the Euro zone.<\/p>\n<p>In energy, we have crude hitting another record, <a href=\"http:\/\/money.cnn.com\/2008\/05\/20\/markets\/oil_stead\/index.htm?postversion=2008052011\">above $129\/bbl<\/a>, and gas prices at the pump <a href=\"http:\/\/money.cnn.com\/2008\/05\/20\/news\/economy\/gas_prices\/index.htm\">hitting a new record for the 13th straight day<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In inflation, it appears that producer prices may be a problem (also here), with the overall rate going up by .2%, and the core rate going up by 0.4%. Of interest is that the first link, from Bloomberg, basically casts it as a &#8220;low inflation&#8221; story, and the second link casts it as a &#8220;high &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1200],"tags":[],"class_list":["post-196159","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-inflation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196159"}],"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=196159"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196159\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}