Thursday, September 15, 2011

Morning Journal 9/15/11


Economics

This Week’s Data


July business inventories rose 0.4% versus expectations of a 0.6% increase; more important, business sales were up 0.7%, pushing down the inventory to sales ratio.

The August consumer price index was up 0.4% versus estimates of up 0.2%; core CPI was up 0.2% as anticipated.

The New York Fed’s September manufacturing index came in at -8.8 versus forecasts of -3.0.

Weekly jobless claims rose 14,000 versus expectations of a 4,000 decline.
http://www.calculatedriskblog.com/2011/09/weekly-initial-unemployment-claims_15.html


Other

More analysis of yesterday’s August’s retail sales numbers (medium):
http://www.capitalspectator.com/archives/2011/09/another_zero_fo.html#more

An in depth look on why the US economy will grow at a below average secular rate for the foreseeable future (Medium):
http://advisorperspectives.com/dshort/guest/Lance-Roberts-110914-Great-American-Lie.php

Politics

Domestic


An excellent four minute video featuring Paul Ryan discussing our current tax code:
http://www.powerlineblog.com/archives/2011/09/paul-ryan-on-pro-growth-tax-reform.php