Wednesday, August 27, 2014

Morning Journal--The incompetence of our ruling class is unfathomable

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.6% versus the prior week and up 4.2% on a year over year basis; Redbook Research reported month to date retail chain store sales up 4.0% versus the comparable period last year.

            The June Case Shiller home price index fell 0.2% versus expectations of up 0.1%.

            The August Richmond Fed manufacturing index came in at 12 versus forecasts of 6.

            Weekly mortgage applications rose 2.8% while purchase applications were up 3.0%.

   Other

            Why you should fear rising interest rates (medium):

            French political unrest a symptom of what is ailing the EU (medium):

            What is the ECB going to do? (medium):

            More on student loans (short):

            Why oil is falling in price (short):

Politics

  Domestic

More government incompetence (medium):

Pompous displays of ignorance (short):

Another genius suggestion from the ruling class (just read the intro):

  International

            US to bomb both ISIS and the Syrian regime.  Does this remind anyone else of Alice in Wonderland?

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