Blog

OK, the headlines say that housing starts dropped.  But really, January was abnormally high, thanks to mild weather in much of the country (reversed in February).  The trend looks steady to my eyes: Permits for …

Today’s news was OK.  I usually look at the CPI in 12-month percent change format: I see that high energy inflation (included in "All Items") has not bled through to the core inflation rate ("Ex …

The inventory and sales report on American business shows that inventories are lean.  This usually means that production will be increased to restock shelves. But look at the longer-run trend: For over a decade, we’ve …

Northwest Airlines is going to start charging premium prices for exit row seats and for aisle seats.  Although I dislike the complexity of airline pricing, it does make sense to price up for a valuable …

Last week I sent my banker friends an article about the coming funding crunch: loan growth will exceed deposit growth in 2006.  I recommended that banks engage in serious efforts to beef up core deposits …

The retail sales report looks OK, despite the decline in January. I look at the last data point (February) and see that it’s in line with the recent trend line. Business implication:  consumers are continuing …