By Bill Conerly, Conerly Consulting LLC [5], Businonmics [6]
I try not rant in this blog. I really try. But here’s the Wall Street Journal headline: “Housing Starts Rise, but Remain Subdued.” On the other hand, CNBC says, ” Producer Prices, Housing Starts Post Surprise Drops.” Huh? Did housing starts rise, or did they drop? Turns out, they effectively did neither. Oh, there was a tiny change from last month to this month, but really, really tiny, so much that they were effectively flat. Look at the chart and see if you don’t agree.
[7]
The moral of the story: the newspaper headlines tell you approximately nothing.