{"id":196830,"date":"2008-03-20T17:21:00","date_gmt":"2008-03-20T22:21:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/03\/20\/economics-update-496\/"},"modified":"2008-03-20T17:21:00","modified_gmt":"2008-03-20T22:21:00","slug":"economics-update-496","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/03\/20\/economics-update-496\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Jobless claims <br \/><a href=\"http:\/\/www.msnbc.msn.com\/id\/23723179\/\">378,000, up 22K from the previous week<\/a>, and the <a href=\"http:\/\/money.cnn.com\/2008\/03\/20\/news\/economy\/economic_indicators\/index.htm?postversion=2008032010\">leading economic indicators fell for the 5th straight month<\/a> by 0.3%.<\/p>\n<p>Oil <a href=\"http:\/\/money.cnn.com\/2008\/03\/19\/markets\/eia\/index.htm?postversion=2008031917\">dropped nearly $4.00\/bbl<\/a>, and the <a href=\"http:\/\/money.cnn.com\/2008\/03\/20\/markets\/dollar.ap\/index.htm\">dollar is up versus the Euro<\/a>.<\/p>\n<p>These are both driven by what is seen as reduced demand for oil, and a rate cut from the Fed which was around 25 basis points (0.25%) less than expected.<\/p>\n<p>Still, it does not appear that the banks are optimistic <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=afXll_6WE4Rg&amp;refer=home\">Citi is looking to cut 2,000 jobs in their securities division<\/a> (investment banking and trading).  This is <span style=\"font-weight:bold;\">in addition to<\/span> the 4k announced in January.<\/p>\n<p>Just to remind you, it&#8217;s not just sub-prime, as <a href=\"http:\/\/www.forbes.com\/feeds\/ap\/2008\/03\/19\/ap4792923.html?partner=email\">Alt-A delinquencies and foreclosures are spiking too<\/a>, and are trashing the related mortgage backed securities.<\/p>\n<p>Finally, the Federal Reserve continues its  <a href=\"http:\/\/money.cnn.com\/2008\/03\/20\/news\/economy\/fed_treasurys.ap\/index.htm?postversion=2008032014\">extended bout of anilingus with the brokerage houses<\/a>, making $75 billion in treasury securities available to investment banks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jobless claims 378,000, up 22K from the previous week, and the leading economic indicators fell for the 5th straight month by 0.3%. Oil dropped nearly $4.00\/bbl, and the dollar is up versus the Euro. These are both driven by what is seen as reduced demand for oil, and a rate cut from the Fed which &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,970,973,975,1004,1265,1088,1089],"tags":[],"class_list":["post-196830","post","type-post","status-publish","format-standard","hentry","category-bubble","category-corruption","category-economy","category-employment","category-finance","category-housing-crash","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196830"}],"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=196830"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196830\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}