Morning Journal, Club for Growth looks at GOP candidates

Economics
This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers fell 5.4% versus the prior week but up 2.8% versus the comparable period last year; Redbook Research reported month to date retail chain store sales down versus the similar timeframe a month ago but up 2.2% on a year over year basis.

November wholesale inventories grew a paltry 0.1% versus expectations of up 0.5%; however, wholesale sales were up 0.6%.

After a couple of rough weeks, mortgage applications rose 4.5% while purchase applications were up 8.1%.
http://www.calculatedriskblog.com/2012/01/mba-mortgage-purchase-application-index_11.html


Other

Small business sentiment is up:
http://advisorperspectives.com/dshort/updates/NFIB-Small-Business-Optimism-Index.php

Politics

Domestic

The Club for Growth on the Republican candidates economic plans (4 minute video):
http://www.clubforgrowth.org/perm/?postID=15704

Is the Administration covering up the crimes of financial industry leaders (medium):
http://www.nakedcapitalism.com/2012/01/bill-black-more-proof-of-obama-policy-of-covering-up-for-elite-financial-criminals.html

Another increase in the debt ceiling coming to a government near you (short):
http://www.zerohedge.com/news/obama-ask-debt-ceiling-increase-matter-days

International

Hyperinflation comes to Iran (short):
http://www.zerohedge.com/news/hyperinflation-comes-iran

The mafia is now the largest lender in Italy (medium and not a joke):
http://www.zerohedge.com/news/mafia-now-italys-largest-bank

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.