Morning Journal--David Stockman on the 2008 financial crisis

News on Stocks in Our Portfolios

 

FactSet misses by $0.10, beats on revenues

·                                 FactSet (FDS): FQ4 EPS of $1.20 misses by $0.10.

·                                 Revenue of $219.3M (+6% Y/Y) beats by $0.37M

Economics

   This Week’s Data

            August industrial production rose 0.4% versus expectations of up 0.5%; capacity utilization came in at 77.8 versus estimates of 77.9.

            http://www.capitalspectator.com/archives/2013/09/industrial_prod_14.html#more

   Other

            Problems in the emerging markets (medium/long):

            http://www.minyanville.com/business-news/markets/articles/Satyajit-Das253A-Is-an-Emerging-Market/9/16/2013/id/51765?page=2

            Sovereign debt levels in Spain and Italy soar (medium):

            http://www.zerohedge.com/news/2013-09-16/italy-public-debt-will-rise-more-expected-next-year-hit-1322-debt-gdp

            David Stockman on what caused the 2008 financial crash and how our ruling class mishandled the government’s response (medium and today’s must read):

            http://www.zerohedge.com/news/2013-09-16/david-stockman-2008-hank-paulsons-folly-aig-was-safe-enough-fail-part-1

            Update on the big four economic indicators (medium):

            http://advisorperspectives.com/dshort/updates/Big-Four-Economic-Indicators.php

Politics

  Domestic

  International War Against Radical Islam

            Krauthammer on Obama on Syria (medium):

            http://www.washingtonpost.com/opinions/charles-krauthammer-the-fruits-of-epic-incompetence/2013/09/12/7e6771d2-1bdf-11e3-a628-7e6dde8f889d_story.html

            Mark Steyn on Obama on Syria---as only he can do it (medium):

            http://www.nationalreview.com/article/358480/american-ineffectualism-mark-steyn

UN conforms saran gas was used in Syria (medium):

            http://www.zerohedge.com/news/2013-09-16/un-confirms-sarin-was-used-unable-confirm-numbers-or-whodunnit

            Andrew McCarthy on radical Islam (medium and a must read):

            http://www.nationalreview.com/article/358508/what-conservative-foreign-policy-looks-andrew-c-mccarthy

            A resurgence of al Qaeda in Iraq (short):

            http://www.powerlineblog.com/archives/2013/09/al-qaeda-in-iraq-is-resurgent.php

            British defense study estimates that half of the Syrian rebels are jihadists (medium):

            http://www.zerohedge.com/news/2013-09-16/half-syrian-rebels-are-jihadists-fighting-al-qaeda-linked-groups-british-defense-stu