Dec

28

JetKona, Hawaii used to be a quiet Hawaiian fishing village, but now is the second home and playground of the rich and famous, including Paul Allen, Michael Dell, Charles Schwab, Bill Gates, Neil Young, Earl Bakken of Medtroncs and many others. Each year around this time of year they flock here in private jets. My hypothesis is that these captains of industry have a good feel for the pulse of the economy and even they, despite their wealth, tend to be very cost conscious with their jet use when business turns soft. Last year had record numbers of jets, and this year seems to match last with over 65 jets counted and more coming in every hour. The base operator estimates about the same as last year with New Year's weekend starting tonight. What is the conclusion of the Private Jet Indicator? This coming year 2008 should still be a good year similar to 2007 with new highs, but not without turbulence, and certainly not the beginning of the big crash or recession that many predict. I predict and hope for a "soft landing" for the market, the economy and our friends in their private jets.

Pitt T. Maner adds:

Given that jet fuel is 30% higher than last year, this indicator may foreshadow a feather-like landing.  Let's hope so.


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