Gary's Blog

Thursday, October 8, 2009

Hawaii Economy Stimuli

It is great news to see that Continental Airlines is adding daily flights from LAX to Honolulu, and four days per week they will be flying from Honolulu to Orange County! Apparently Continental Airlines is bullish on the Hawaii economy!

Australia's Central Bank apparently believes the worst is behind us, as they just raised their key lending interest rate. They are the first major economy to do so since the financial crisis worsened last fall. Still many economists do not expect the U.S. Federal Reserve to do the same any time soon.

One more positive note: Consumers cut their borrowing by $12 billion in August, the seventh straight month of reduced borrowing by consumers. In the short run, it does not help with consumer spending, but in the long run, less debt means more disposable income for consumers, since they don't pay all that money in interest expense!

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