{"id":197830,"date":"2008-01-08T17:57:00","date_gmt":"2008-01-08T22:57:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/08\/economic-update-3\/"},"modified":"2008-01-08T17:57:00","modified_gmt":"2008-01-08T22:57:00","slug":"economic-update-3","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/08\/economic-update-3\/","title":{"rendered":"Economic Update"},"content":{"rendered":"<p>Merrill Lynch <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/7176255.stm\">saying that a recession in the US &#8220;has arrived&#8221;<\/a>, to which I say, &#8220;what took you so long&#8221;?<\/p>\n<p><a href=\"http:\/\/www.thestreet.com\/_yahoo\/newsanalysis\/financial-services\/10397600.html?cm_ven=YAHOO&amp;cm_cat=FREE&amp;cm_ite=NA\">Countrywide Financialis hit by rumors of bankruptcy<\/a>, and <a href=\"http:\/\/www.nytimes.com\/2008\/01\/08\/business\/08lend.html\">they have admitted that they fabricated documents in a foreclosure suit.<\/a>, so their stock is tanking.<\/p>\n<p><a href=\"http:\/\/www.marketwatch.com\/news\/story\/bond-insurers-fall-morgan-stanley\/story.aspx?guid=%7B118906B4-86A4-4890-98BB-4DF66F272883%7D&amp;siteid=yhoof\">Morgan Stanley has downgraded Ambac Financial and MBIA<\/a>, two of the largest bond insurers because of concerns about mounting losses.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/2008\/01\/08\/news\/economy\/home_sales\/index.htm?postversion=2008010812\">New home contracts fall<\/a>, the National Association of Realtors&#8217; has upped their estimate for year over year losses, and KB Home&#8217;s losses shoot skyward.<a href=\"http:\/\/money.cnn.com\/2008\/01\/08\/news\/companies\/countrywide.ap\/index.htm?postversion=2008010813\"><br \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Merrill Lynch saying that a recession in the US &#8220;has arrived&#8221;, to which I say, &#8220;what took you so long&#8221;? Countrywide Financialis hit by rumors of bankruptcy, and they have admitted that they fabricated documents in a foreclosure suit., so their stock is tanking. Morgan Stanley has downgraded Ambac Financial and MBIA, two of the &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],"tags":[],"class_list":["post-197830","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-housing-crash"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197830"}],"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=197830"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197830\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}