{"id":197657,"date":"2008-01-18T18:00:00","date_gmt":"2008-01-18T23:00:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/18\/economics-update-537\/"},"modified":"2008-01-18T18:00:00","modified_gmt":"2008-01-18T23:00:00","slug":"economics-update-537","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/18\/economics-update-537\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>We&#8217;ve just had <a href=\"http:\/\/www.guardian.co.uk\/money\/2008\/jan\/18\/property.moneyinvestments\">\u00a32 billion  ($4 b) fund in the UK suspend trading because of a panic<\/a>, but &#8220;Aegon UK added that it believes the &#8220;underlying fundamentals of the asset class remain healthy&#8221;.<\/p>\n<p>Nope, there is an increasing understanding that the last one leaving the room won&#8217;t only be without clothes, but that the price of exit will involve selling an organ.<\/p>\n<p>Standard and Poors is now assessing <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aJhQdBxLg_ko&amp;refer=home\">the risk of bond insurer giants MBIA and Ambac in excess of 70% over the next 5 years<\/a>.  If they unwind, a lot more unwinds too.<\/p>\n<p>Sprint is <a href=\"http:\/\/www.cnbc.com\/id\/22726417\">laying off 4000, and closing 125 stores<\/a>.<\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/ousiv\/idUSN1859460620080118\">Bond insurer ACA is asking for more time to unwind its contracts<\/a>, basically because it&#8217;s out of case.  If they go under, &#8220;Banks and brokers could suffer billions of dollars of losses from credit protection they bought from ACA.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We&#8217;ve just had \u00a32 billion ($4 b) fund in the UK suspend trading because of a panic, but &#8220;Aegon UK added that it believes the &#8220;underlying fundamentals of the asset class remain healthy&#8221;. Nope, there is an increasing understanding that the last one leaving the room won&#8217;t only be without clothes, but that the price &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1265,1088],"tags":[],"class_list":["post-197657","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-housing-crash","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197657"}],"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=197657"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197657\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}