{"id":196595,"date":"2008-04-10T16:31:00","date_gmt":"2008-04-10T21:31:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/10\/economics-update-482\/"},"modified":"2008-04-10T16:31:00","modified_gmt":"2008-04-10T21:31:00","slug":"economics-update-482","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/10\/economics-update-482\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

The average consumer is smarter than Alan Greenspan and the rest of the economic glitterati, because consumer sentiment dropped to a long time low<\/a> (also here<\/a>).<\/p>\n

In energy, gasoline prices have hit another all time high<\/a>, and oil prices seemed to have settled comfortably about $110\/bbl<\/a>.<\/p>\n

That being said, it’s not just oil<\/span> imports, inflation in non<\/span>-energy imports in March surged 1.1%<\/a>, with a year over year increase of 5.4%.<\/p>\n

That 1.1% number is the largest jump ever recorded.<\/p>\n

There is a smidgen of bright news, the Fed’s excrement for cash exchange program did not sell out this time<\/a>, with only $33.95 billion of the $50 billion offered being taken.<\/p>\n

In real estate, we have US banks killing the no down payment loan<\/a>, which is long overdue. Even with a small amount of skin in the game, home borrowers tend to be much<\/span> better risks.<\/p>\n

Housing is tanking overseas too, with UK mortgage rates going up<\/a>, despite BoE rate cuts, so they are pushing on a string there too.<\/p>\n

But’s it’s not just us Anglo-Saxons, because Dutch home sales are tanking too<\/a>, and let’s not talk about Spain.<\/p>\n

Also, GE released earnings, and they sucked<\/a>, which surprised the experts, but not me.<\/p>\n

People are scared and not buying stuff. GE makes stuff. Any questions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The average consumer is smarter than Alan Greenspan and the rest of the economic glitterati, because consumer sentiment dropped to a long time low (also here). In energy, gasoline prices have hit another all time high, and oil prices seemed to have settled comfortably about $110\/bbl. That being said, it’s not just oil imports, inflation …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,984,1200,1088],"tags":[],"class_list":["post-196595","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-europe","category-inflation","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196595"}],"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=196595"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}