Wednesday, November 28, 2012

Morning Journal---America's lost decade

Sorry for the delay

Econo
mics


   
 This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 3.3% versus the prior week and up 4.0% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 0.8% versus the similar timeframe last month and up 4.5% on a year over year basis.  Both numbers were impacted by the timing of Thanksgiving and Black Friday.

            October durable goods came in flat versus expectations of being down 0.8% and September’s reading of +0.8%; ex transportation the stats were a lot better---up 1.5% versus estimates of down 0.4% and September’s report of +2.0%.

            The September Case Shiller home price index rose 0.4%, in line with forecasts.

            November consumer confidence came in at 73.7 versus expectations of 72.8 and 72.2 recorded in October.

            The Richmond Fed November manufacturing index was reported at +9 versus estimates of -8 and October’s reading of -7.

                Weekly mortgage applications fell 0.9% but purchase applications rose 3.0%.

   Other

            Thoughts on economic policy making (medium):

            A comparison of tax rates versus taxes paid in 1950 and today (medium):

            America’s lost decade (short):

            The latest on student loans (short and a must read):

Politics

  Domestic

            John Fund on voter fraud (medium):

            Welcome to the future of healthcare (medium):

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