{"id":196418,"date":"2008-04-29T16:36:00","date_gmt":"2008-04-29T21:36:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/29\/economics-update-470\/"},"modified":"2008-04-29T16:36:00","modified_gmt":"2008-04-29T21:36:00","slug":"economics-update-470","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/29\/economics-update-470\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, the <a href=\"http:\/\/money.cnn.com\/2008\/04\/29\/news\/economy\/Consumer_confidence\/index.htm\">consumer confidence index fell to its lowest level in 5 years<\/a>, what&#8217;s more, the <a href=\"http:\/\/iht.com\/articles\/2008\/04\/29\/business\/euecon.php\">Frog consumers are bumming more than they have in 20 years<\/a>.<\/p>\n<p>Sarkosy is not going to find a lot of support for making the French economy more &#8220;Anglo-Saxon&#8221; right now.<\/p>\n<p>In real estate, <a href=\"http:\/\/www.reuters.com\/article\/ousiv\/idUSN2848824620080429?sp=true\">foreclosures jumped 23% in 1Q of 2007<\/a>, which is on a pace for a 200% increase in foreclosures in 2008, while the <a href=\"http:\/\/biz.yahoo.com\/ap\/080429\/home_prices.html\">Case-Shiller Home Price index fell 13% year over year<\/a> in February.<\/p>\n<p>This is not over.  It&#8217;s not close to being over.<\/p>\n<p>In the ever entertaining Countrywide sage, the mortgage lender <a href=\"http:\/\/www.marketwatch.com\/news\/story\/countrywide-posts-hefty-893-million\/story.aspx?guid=%7BB3B9A865-528B-4B45-ABB3-D555DA790B59%7D\">posted a $893 million first-quarter loss<\/a>.  <\/p>\n<p>I still wonder when some Bank of America investor finally starts screaming about a proxy fight over their purchase of Nationwide.  Every day, the deal looks worse and worse.<\/p>\n<p>As to energy, <a href=\"http:\/\/money.cnn.com\/2008\/04\/29\/markets\/oil.ap\/index.htm?postversion=2008042912\">oil is down, but gasoline is up<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, the consumer confidence index fell to its lowest level in 5 years, what&#8217;s more, the Frog consumers are bumming more than they have in 20 years. Sarkosy is not going to find a lot of support for making the French economy more &#8220;Anglo-Saxon&#8221; right now. In real estate, foreclosures jumped 23% in 1Q of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1004,1088,1089],"tags":[],"class_list":["post-196418","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196418"}],"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=196418"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196418\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}