Kevin Logan
Kevin Logan
benefit list listed needed reason soon
The only reason we wouldn't be able to make it (to the benefit concert) is if Pete got listed and we needed to leave. As soon as they list him then we need to get him down immediately.
bad continue given grew grow high home level likely move overall sales sideways
The overall level of home sales is still healthy, but it's likely not going to be able to continue to grow in 2004 the way it grew in 2003. It may be topping out, and sales will move sideways -- but that's not a bad thing, given the high level of sales.
believe changed closer further inflation policy pressures rather risk subtle
They've changed their risk assessment; that's a subtle shift, but it is a shift. If you believe that inflation pressures will mount, they're closer to, rather than further from, a policy move.
changed continues corporate investment profits weakness
They haven't changed (their bias). The weakness in corporate profits is a problem, and investment continues to decline.
booming numbers
You can't look at these numbers and say things are going to be booming going forward.
bit fed relief
There's a little bit of relief that the Fed wasn't more aggressive.
housing past seems seen year
The uptrend seen for the past year or so in housing seems to be intact.
beginning date far housing indication market sales situation
So this is more up to date as far as the situation in the housing market is concerned. It is a better indication that housing sales are beginning to slow.
beginning few flattened higher interest last months prices rates rise sales seem sideways slow tend
For the last few months or so sales seem to have flattened out. This may be the beginning of a sideways movement. The rise in short-term interest rates and higher prices tend to slow down the turnover of houses.
businesses cut finding growing hire profits raise revenue unable
All through the economy, businesses are finding they're unable to raise prices, so revenues are not growing in the way they would have liked. Without revenue growth, they're not going to grow profits. The only way to grow profits then is to cut costs, and the only way to do that is to not hire workers.
business indicator lending picks stock
This is more of a contemporaneous indicator -- if business picks up and firms find they need to stock more inventory, we will see lending pick up.
areas economy happens housing less likely market rates reflection resources rising shifting system works
The housing market is likely to do less well, but that happens as resources are shifting back to areas where there's more remuneration -- such as manufacturing and services. That's how the system works -- rising rates are a reflection of how the economy is going to do.
claims lower weather
The jobless claims were lower because the weather was good.
inventory run
You can only run down inventory for so long.