Friday, December 02, 2011

Morning Journal the ECRI index is not the only negative indicator


Economics
This Week’s Data


The November Institute for Supply Management’s manufacturing index was reported at 52.7 versus expectations of 52.0 and October’s reading of 50.8.

October construction spending rose 0.8% versus estimates of a 0.3% increase.

October auto sales were slightly above forecasts.
http://www.zerohedge.com/news/gm-channel-stuffing-surges-all-time-record

November retail same store year over years sales grew 2.5%, slightly less than anticipated.


November nonfarm payrolls rose 120,000 versus expectations of 118,000; positively (1) payrolls for September and October were revised up and (2) the unemployment rate dropped to 8.6%
http://www.calculatedriskblog.com/2011/12/november-employment-report-120000-jobs.html

Other

More indicators in support of the ECRI recession forecast (medium):
http://www.zerohedge.com/news/do-you-believe-ism-miracles-goldman-doesnt

The way out:
http://www.zerohedge.com/news/guest-post-unleashing-future-advancing-prosperity-through-debt-forgiveness-part-3

Politics

Domestic


Obama’s energy policy--from a Democrat (medium):
http://mjperry.blogspot.com/2011/11/democrats-need-to-re-think-us-energy.html

And this--15,000 abandoned windmills (short):
http://mjperry.blogspot.com/2011/11/green-junk-15000-abandonded-windmills.html

More on Herman Cain from Ann Coulter (medium):
http://www.anncoulter.com/columns/2011-11-30.html

This something of a radical political philosophy treatise, only some of which I disagree with. It is a bit long but it is not complicated reading and well worth the time spent:
http://www.zerohedge.com/news/guest-post-when-governments-go-rogue