Thursday, February 09, 2012

Morning Journal-A dysfunctional political class


Economics
This Week’s Data


Weekly jobless claims fell 9,000 versus expectations of a 3,000 increase.
http://www.calculatedriskblog.com/2012/02/weekly-initial-unemployment-claims_09.html

Other

More on expanding credit (short):
http://scottgrannis.blogspot.com/2012/02/deleveraging-is-history.html

Before getting too jiggy with rising consumer credit, take a look at this number in conjunction with the personal consumption expenditures (medium):
http://www.zerohedge.com/news/guest-post-consumer-credit-and-american-conundrum

The problem with a dysfunctional political class (medium and today’s must read):
http://www.zerohedge.com/news/guest-post-why-our-currency-will-fail

Now read this (medium):
http://www.zerohedge.com/news/us-settle-fraudclosure-25-billion-even-it-channels-fake-tough-guy-meaningless-lawsuit-against-v

Chinese inflation comes in well ahead of expectations:
http://www.zerohedge.com/news/kiss-hopes-chinese-easing-goodbye-january-inflation-china-soars-highest-october

Politics

Domestic


S&P threatening the US with another credit down grade (short):
http://www.zerohedge.com/news/sp-threatens-us-another-downgrade-little-6-months

News on Stocks in Our Portfolios

United Tech mulls asset sales to pay for Goodrich deal. United Technologies (UTX) is considering selling its pump- and compressor-making division, which would be worth at least $2B, to raise money for the proposed $16.5B acquisition of Goodrich (GR), Bloomberg reports. United Tech is also looking for a buyer for Rocketdyne, a unit that makes rocket engines and could bring in $400M+.

More earnings per share reports:

Reported Expected
Pepsico $1.15 $1.12
Sonoco Products .46 .47

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.