{"id":198538,"date":"2007-10-31T22:59:00","date_gmt":"2007-11-01T03:59:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/10\/31\/economic-update-8\/"},"modified":"2007-10-31T22:59:00","modified_gmt":"2007-11-01T03:59:00","slug":"economic-update-8","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/10\/31\/economic-update-8\/","title":{"rendered":"Economic Update"},"content":{"rendered":"<p>Well, the <a href=\"http:\/\/biz.yahoo.com\/ap\/071031\/economy.html\">economy logged a brisk 3.9 growth rate<\/a>, which is pretty stellar, particularly since it would have been about 1% higher if the housing market were not tanking, but still, <a href=\"http:\/\/biz.yahoo.com\/ap\/071031\/fed_interest_rates.html?.v=25\">the Fed cuts rates by 25 basis points<\/a>.<\/p>\n<p>Maybe they know that there is some level of bullsh&amp;% in the figures that they cannot trust.<\/p>\n<p>In response, <a href=\"http:\/\/biz.yahoo.com\/ap\/071031\/dollar.html\">the dollar tumbled<\/a>.  The Canadian dollar bought more than $1.06 for the <span style=\"font-weight: bold;\">first time since 1957<\/span>, the Euro broke the $1.45 barrier, going to $1.4503:1.0000\u20ac, and the Sterling is now $2.0813:\u00a31.0000.<\/p>\n<p>I said that the dollar would break through $1.50:1.00\u20ac before year&#8217;s end, and I stand by that.<\/p>\n<p>As to the Chinese Yuan, it doesn&#8217;t move as much, as it it still partially pegged to the dollar,<br \/><img decoding=\"async\" src=\"http:\/\/img484.imageshack.us\/img484\/4906\/91901248gm3.png\" \/><\/p>\n<p>but it has risen by about 10 % since it became more loosely pegged about 27 months ago.<\/p>\n<p>I expect a run on the US dollar sooner, rather than later, perhaps before the 2008 elections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, the economy logged a brisk 3.9 growth rate, which is pretty stellar, particularly since it would have been about 1% higher if the housing market were not tanking, but still, the Fed cuts rates by 25 basis points. Maybe they know that there is some level of bullsh&amp;% in the figures that they cannot &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1265,1088],"tags":[],"class_list":["post-198538","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-housing-crash","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198538"}],"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=198538"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198538\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}