In economic news, more bad stuff. On Thursday morning, we learned that housing starts fell by over 15% in December (and these numbers are seasonally adjusted, so don’t blame it on snow) to an all-time low. An all-time low sounds bad enough, but when you reflect that this is a history that goes back almost 50 years, to a time when the U.S. population was more than 40% lower than it is now, setting a fresh low is really an achievement. In fact, in per capita terms, the level of housing starts in… Read More