{"id":196648,"date":"2008-04-04T16:30:00","date_gmt":"2008-04-04T21:30:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/04\/economics-update-486\/"},"modified":"2008-04-04T16:30:00","modified_gmt":"2008-04-04T21:30:00","slug":"economics-update-486","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/04\/04\/economics-update-486\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

Well, it looks like 80,000 jobs were lost in March, and the unemployment rate went up to 5.1%, see here<\/a>, here<\/a>, and here<\/a>.<\/p>\n

There was good news, at least by the standards of the hacktacular financual press, the ISM’s report on non-manufacturing businesses rose<\/a>, from 49.3 to 49.6, when it was expected to be 48.5.<\/p>\n

Note that while the headline on the story speaks of a rebound, it’s not. Any number under 50 is a contraction<\/span>, so the contraction was slower than expected, but it was still<\/span> a contraction.<\/p>\n

Given these numbers it’s no surprise that the Federal Reserve is signaling more rate cuts<\/a>.<\/p>\n

It won’t work. We need to go Nordic on this problem<\/a> and nationalize the insolvent institutions, for a time at least.<\/p>\n

Give all this information, it should come as no surprise that we are getting reports of skyrocketing vacancies in commercial space<\/a>, the stuff that all the “experts” said was not going to be a problem.<\/p>\n

This is typical. Commercial space lags residential space.<\/p>\n

It won’t help that Oil is back above $105\/bbl<\/a>.<\/p>\n

It also looks like Delphi auto parts may be going under, Appaloosa Management LP is pulling out of a deal to invest 2.55 billion in the manufacturer<\/a>.<\/p>\n

This will leave GM on the hook for a lot, and they may have no parts for their cars.<\/p>\n","protected":false},"excerpt":{"rendered":"

Well, it looks like 80,000 jobs were lost in March, and the unemployment rate went up to 5.1%, see here, here, and here. There was good news, at least by the standards of the hacktacular financual press, the ISM’s report on non-manufacturing businesses rose, from 49.3 to 49.6, when it was expected to be 48.5. …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1088,1089],"tags":[],"class_list":["post-196648","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196648"}],"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=196648"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196648\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}