Morning Journal-Behind the pricing of oil

Economics
This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 0.7% versus the prior week and up 2.3% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales unchanged versus the similar timeframe last month an up 3.3% on a year over year basis.

January business inventories rose 0.7% versus expectations of an increase of 0.5%; business sales only grew 0.5%.

Weekly mortgage applications fell 2.4%; but purchase applications advanced 4.4%.

The February US trade deficit came in at $124.1 billion versus January’s $110.3 billion.

Understanding the pricing of oil (medium):
http://www.zerohedge.com/news/guest-post-understanding-new-price-oil

Politics

Domestic

More government intrusion (short):
http://mjperry.blogspot.com/2012/03/video-above-is-about-institute-for.html

And (medium):
http://www.nationalreview.com/articles/293274/holder-s-identity-problem-rich-lowry

International

A closer look at the Chinese economy (medium):
http://www.nakedcapitalism.com/2012/03/satyajit-das-%E2%80%9Call-feasts-must-come-to-an-end%E2%80%9D-%E2%80%93-china%E2%80%99s-debt-investment-fueled-growth-part-1.html

And markets (medium):
http://www.zerohedge.com/news/four-big-troubles-little-china

Japan in worse shape than Greece (short):
http://www.zerohedge.com/news/japans-shocking-keynesian-slip-we-are-worse-greece

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.