Morning Journal---German high court punts on OMT

Economics

   This Week’s Data

            January retail chain store sales declined.

            January nonfarm payrolls increased 113,000 versus expectations of +181,000; the unemployment rate fell to 6.6% from 6.7%.

   Other

Politics

  Domestic

Thoughts on the minimum wage (3 minute video):

http://www.aei-ideas.org/2014/02/video-why-a-9-minimum-wage-is-a-bad-idea/

  International

            German high court finds provision of Draghi’s monetary policy illegal, then punts the responsibility to enforce it (medium):

            http://www.zerohedge.com/news/2014-02-07/german-top-court-finds-ecbs-omt-illegal-then-promptly-washes-its-hands-final-decisio