Martha’s Memo
So while you are thinking about the previous segment -- rising car prices -- coming your way...Here's Martha's Memo -- with the rest of what to keep in mind today if you're trying to figure out where this wacky economy is going...
OOPS -- not a good number to start -- the number of new homes they are breaking ground on -- sunk 12.8% in the month. Economists -- you know they are not always right about these things -- thought it would go up 2%. Bad news for the home building companies.
Still -- here's the thing to keep in mind. We need home inventories to go down. So that could be helpful to all those existing homes out there on the market.
Good news -- Home Depot - came in with better than expected profits! The bad news -- it was because of cost cutting -- which all companies are doing these days -- and not becuase more people are buying new sinks and toilets!
And last but not least -- Big news! Fox Business is reporting that the government may finally agree to take money back from Goldman Sachs and JP Morgan -- in the first round of TARP returns. And that is good news. The markets like that of course.