Wednesday, October 19, 2011

Morning Journal--Why our deficits are different

News on Stocks in Our Portfolios

Earnings reports:

Reported Expected

LLTC $.47 $.50
GPC .97 .94
JNJ 1.24 1.21
KO 1.03 1.02
GWW 2.51 2.34


This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 0.1% versus the prior week and up 3.6% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales down 0.6% versus the similar period a month ago but up 4.6% on a year over year basis.

Weekly mortgage applications fell 14.9% while purchase applications dropped 8,8%. While they look bad, they were negatively impacted by the Columbus Day holiday.

The September consumer price index was up 0.3%, in line with forecasts; core CPI was up 0.1% versus expectations of up 02.%.

September housing starts soared 15.2% versus estimates of a 4.9% increase; building permits declined 4.9% versus an anticipated decrease of 2.0%.


More shenanigans from the banksters. Little wonder the average American hates the banks and hates the collusion between them and Washington (medium):

This is a great discussion on the US versus the EU monetary systems and why our deficits are different from Greek, Irish, Spanish, etc, etc, etc deficits (medium and today’s must read):

More on inflation (short):



My favorite liberal comments on Obama’s new campaign for His jobs bill (short):

The unworkability of Obamacare (medium);

Barry Ridholtz on Occupy Wall Street (medium and another important read):