Morning Journal-Waving the white flag in Afghanistan

Economics
This Week’s Data

December auto sales improved modestly.

The International Council of Shopping Centers reported weekly sales of major retailers up 1.2% versus last week and up 5.3% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales down 2.1 versus the similar timeframe last month but up 4.9% on a year over year basis.

November factory orders rose 1.8% versus expectations of +1.9% and -0.4% in October.

Weekly jobless claims fell 9,000 versus estimates of a 6,000 decline.


Politics
 Domestic

A brief assessment of Tuesday night’s Iowa caucus vote (short):
http://www.powerlineblog.com/archives/2012/01/landslide-mitt-where-do-things-stand-post-iowa.php

International War Against Radical Islam

Waving the white flag in Afghanistan? (short):
http://www.powerlineblog.com/archives/2012/01/obamas-surrender-of-afghanistan-continues-apace.php

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.