{"id":197550,"date":"2008-01-25T18:17:00","date_gmt":"2008-01-25T23:17:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/25\/economics-update-534\/"},"modified":"2008-01-25T18:17:00","modified_gmt":"2008-01-25T23:17:00","slug":"economics-update-534","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/25\/economics-update-534\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Profits are still tanking, we now have <a href=\"http:\/\/money.cnn.com\/2008\/01\/25\/news\/companies\/bc.apfn.earns.commerce.ap\/index.htm\">Commerce Bank<\/a> and <a href=\"http:\/\/money.cnn.com\/2008\/01\/25\/news\/companies\/bc.earns.harley.davidson.ap\/index.htm\">Harley Davidson<\/a> way down, and I see Harley as a real bellwether of a recession.<\/p>\n<p>When middle aged guys don&#8217;t feel secure enough to buy their toys, it&#8217;s game over.<\/p>\n<p>And we have another insurance downgrade, this time <a href=\"http:\/\/www.housingwire.com\/2008\/01\/24\/security-capital-downgraded-by-fitch-second-insurer-to-lose-aaa-rating\/\">Security Capital is downgraded by Fitch<\/a>.<\/p>\n<p>And we have Nobel winning economist Joseph Stiglitz warning that we <a href=\"http:\/\/www.telegraph.co.uk\/money\/main.jhtml;jsessionid=X5BFSCUG5VPIFQFIQMGSFGGAVCBQWIV0?xml=\/money\/2008\/01\/24\/bcnstig124.xml\">may sliding into a 1930s type &#8216;liquidity trap&#8217;<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Profits are still tanking, we now have Commerce Bank and Harley Davidson way down, and I see Harley as a real bellwether of a recession. When middle aged guys don&#8217;t feel secure enough to buy their toys, it&#8217;s game over. And we have another insurance downgrade, this time Security Capital is downgraded by Fitch. And &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],"tags":[],"class_list":["post-197550","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197550"}],"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=197550"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197550\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}