Tuesday, October 04, 2011

Morning Journal 10/4/11


Economics

This Week’s Data


The September Institute for Supply Management’s manufacturing index was reported at 51.6 versus expectations of 50.4 and 50.6 recorded in August.
http://www.capitalspectator.com/archives/2011/10/manufacturing_a.html#more

August construction spending rose 1.4% versus estimates of a 0.4% decline.
http://scottgrannis.blogspot.com/2011/10/auto-sales-still-booming.html

September domestic auto sales were up 5%, in line with forecasts.
http://scottgrannis.blogspot.com/2011/10/construction-remains-flat.html


Other

The latest from John Mauldin (long):
http://advisorperspectives.com/commentaries/millenium_100111.php

The latest from Bill Gross (Pimco) (medium):
http://www.pimco.com/EN/Insights/Pages/SixPackin.aspx

Goldman’s new forecast (long):
http://www.zerohedge.com/news/goldman-raises-us-recession-odds-40-sees-more-fed-easing-expects-recession-germany-and-france

Politics

Domestic


Now Schumer et al wants to ‘tax’ consumers of Chinese goods (short):
http://mjperry.blogspot.com/2011/10/congress-considers-raising-taxes-on.html

The 2011 US budget fiscal year ended over the weekend and you will be proud to know that our deficit is now north of $14 trillion. Keep up the good work.
http://www.zerohedge.com/news/us-closes-2010-2011-fiscal-year-1479034032855715-debt-95-billion-jump-day-12-trillion-increase-