Atlanta Constitution column-May 18, 2005

In a real estate seminar in January, I stated that housing price increases reflected underlying conditions of reduced costs to finance homes.  For example, about 47 percent of all households nationwide could afford the median home selling nationwide for $190,000. 

 

Atlanta Constitution column-May 11, 2005

 A good economic forecaster needs to tell a story that makes sense.  We do not need to be Brothers Grimm or even Mark Twain, but we must be believable and consistent with economic theory. 

 

Of the two recent stories about oil prices, Goldman’s prediction of price spikes to more than $100 per barrel is possible, but Merrill’s over $50 for as far as the eye can see is not.  However, my story is different from either of those. 

 

Atlanta Constitution column-May 5, 2005

An old adage on Wall Street is three rate increases and you’re out.  If the Federal Reserve shifts toward restraint, stock values cannot perform well.  Three rate increases clearly reflect a policy shift.  Therefore, look out for the next bear market when the Federal Reserve restrains money growth. 

 

Atlanta Constitution column-May 4, 2005

When I wrote last week’s column to make publication for the early weekend editions, President Bush had not yet made his Saturday radio address.  In that address, Bush outlined a program that would substantially reduce the imbalance between promises and funding in the social security system.