{"id":196630,"date":"2008-04-07T20:31:00","date_gmt":"2008-04-08T01:31:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/07\/economics-update-485\/"},"modified":"2008-04-07T20:31:00","modified_gmt":"2008-04-08T01:31:00","slug":"economics-update-485","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/07\/economics-update-485\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>In the world of pipe dreams, we have the EU <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=azIQFN4hE80k&amp;refer=home\">calling for a coordinated response to the credit squeeze<\/a>.<\/p>\n<p>The Euro-Wimps just don&#8217;t get it.  This is America.  We don&#8217;t do joint action based on a deliberate approach to everyone&#8217;s long term best interest.  We shoot first, and ask questions later, and when the dead guy we shot doesn&#8217;t answer, we <span style=\"font-weight: bold;\">water board him<\/span>, and then we bail out the bad actors, like Bear Stearns.<\/p>\n<p>In the ever entertaining world of the monoliners, <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=a.x0vEj2rvJ8&amp;refer=home\">Fitch has cut MBIA&#8217;s rating to AA from AAA<\/a>, because they are under capitalized (broke).<\/p>\n<p>The disgrace here is that it took so long, though you knew that it was coming when MBIA  <a href=\"http:\/\/40yrs.blogspot.com\/2008\/03\/economics-update_12.html\">asked  Fitch to stop rating it<\/a> about 3 weeks ago.<\/p>\n<p>In the no surprise category, <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aw8ifLmYMFlI&amp;refer=home\">bankruptcies jumped 30% over in march 2007<\/a> year over year.<\/p>\n<p>And for those of you who think that commercial real estate will be uneffected by the crash, <a href=\"http:\/\/www.reuters.com\/article\/companyNews\/idUSN0420122020080404\">vacancies at malls have skyrocketed<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the world of pipe dreams, we have the EU calling for a coordinated response to the credit squeeze. The Euro-Wimps just don&#8217;t get it. This is America. We don&#8217;t do joint action based on a deliberate approach to everyone&#8217;s long term best interest. We shoot first, and ask questions later, and when the dead &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1004,1045,1088],"tags":[],"class_list":["post-196630","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance","category-insurance","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196630"}],"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=196630"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196630\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}