Tuesday, November 15, 2011

Morning Journal Great economic data, but will it trump Europe?


Economics
This Week’s Data


October producer prices fell 0.3% versus expectations of a 0.1% drop: core PPI was unchanged versus estimates of a 0.1% rise.
http://advisorperspectives.com/dshort/updates/PPI-Headline-and-Core.php

October retail sales surged +0.5% versus forecasts of a 0.2% increase; ex autos, sales were up 0.3% versus expectations of them being unchanged.
http://www.calculatedriskblog.com/2011/11/retail-sales-increased-05-in-october.html


The NY Fed October index of general business conditions came in at +.61 versus an anticipated reading of -2.6.

Other

A look at the Federal budget (short):
http://scottgrannis.blogspot.com/2011/11/federal-budget-update.html

The Fed and inflation (medium):
http://pragcap.com/it-must-be-impossible-for-the-fed-to-create-inflation

Trade facts (short):
http://scottgrannis.blogspot.com/2011/11/federal-budget-update.html

Politics

Domestic


It is just not members of congress who benefit from insider trading (short):
http://mjperry.blogspot.com/2011/11/its-not-just-members-of-congress-who.html

Tuesday morning humor from PJ O’Rourke (short):
http://mjperry.blogspot.com/2011/11/happy-birthday-pj-orourke.html

International

The invisible hand of intervention (medium):
http://www.zerohedge.com/news/rise-state