Wednesday, November 14, 2012

Morning Journal--Losing another war

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.7% versus the prior week and up 1.8% versus the comparable period a year ago: Redbook Research reported month to date retail chain store sales up 1.4% versus the similar timeframe last month and up 1.6% on a year over year basis.

            The October US budget deficit was $120 billion versus expectations of $113 billion and a September surplus of $75 billion.

            Weekly mortgage applications jumped 12.6% while purchase applications rose 11.0%---a rebound from the Sandy impacted data last week.

            The October producer price index fell 0.2% versus estimates of an increase of 0.2%; ex food and energy, it also declined 0.2% versus forecasts of a 0.2% rise.

            October retail sales dropped 0.3% versus expectations of a 0.1% fall; ex autos, the number was -0.2% versus and anticipated increase of 0.2%---again, these stats reflect the influence of Sandy.

   Other

            The history of financial crisis (medium):

            Weekly gasoline update (short):

            Small business sentiment ticks up slightly (medium):

Politics

  Domestic

The morality of free markets (5 minute video):

We are all Europeans now (medium):

The real risks of Obamacare (medium):

An interesting study on the 1% and the election results (short/medium):

            Debt, taxes and politics (medium):

  International War Against Radical Islam

            Mark Steyn on losing another war (medium):

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