Wednesday, February 22, 2012

Morning Journal - When no one wants USA debt


Economics
This Week’s Data


Overnight European PMI was reported at a contractionary 49.7 versus expectations of 50.5 while Chinese PMI improved a bit from 48.8 to 49.7--which unfortunately still indicates negative growth.

Other

Update on the MIT inflation index (short):
http://mjperry.blogspot.com/2012/02/bppmit-data-show-inflation-trending.html

Federal debt burden by president (short):
http://scottgrannis.blogspot.com/2012/02/putting-obamas-deficits-in-perspective.html

Good news from the Chicago Fed (short):
http://www.capitalspectator.com/archives/2012/02/chicago_fed_nat.html#more

US debt to GDP passes 101% (short):
http://www.zerohedge.com/news/us-debt-gdp-passes-101-global-debt-ponzi-enters-its-final-stages

Thoughts on policy alternatives when the Markets will no longer freely buy US debt (medium and today’s must read):
http://www.zerohedge.com/news/guest-post-great-repression

On money supply and inflation (another great article):
http://advisorperspectives.com/commentaries/euro_22112.php

Politics

Domestic


A look at all the candidates’ tax plans (medium):
http://www.washingtontimes.com/news/2012/feb/20/tax-advice-for-gop-candidates/

Lest we forget, here are the tax increases that will occur 1/1/13 if nothing happens between now and then (short; you probably want to look at this too):
http://www.zerohedge.com/news/david-rosenberg-taxation-shock-syndrome

International War Against Radical Islam

Meanwhile, Iran ramps up tensions another notch (medium):
http://www.zerohedge.com/news/iran-holds-air-defense-drills-iaea-says-iran-blocks-access-key-nuclear-site

News on Stocks in Our Portfolios

More earnings per share reports:

Reported Expected

Expeditors Int’l $.43 $.46
Donald son .70 .71
Genuine Parts .86 .83


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.