Friday, March 30, 2012

Morning Journal -- John Taylor on Fed policy


Economics
This Week’s Data


February personal income grew at 0.2% versus expectations of a rise of 0.3%; personal spending increased 0.8% versus estimates of 0.6%.
http://www.calculatedriskblog.com/2012/03/personal-income-increased-02-in.html

Other

An analysis of 2011 corporate profits (medium):
http://scottgrannis.blogspot.com/2012/03/corporate-profits-continue-to-impress.html

Brevan Howard looks at the risks to the US economy and points out the big Kahuna hanging out there. I haven’t introduced it into our narrative yet; but with the end of the first quarter, we have to start thinking about what the Market is going to have to start discounting in 2013 (short):
http://www.zerohedge.com/news/brevan-howards-three-uncertainties-and-one-certainty-worry-about-us

The student loan problem is even worse than I thought (short):
http://www.zerohedge.com/news/kindergarten-kash-student-loan-krash-uncle-sam-now-paying-toddlers

A little perspective on the economic data (short):
http://www.zerohedge.com/news/charting-premature-jubilation-us-economic-growth-momentum-now-over

Politics

Domestic


John Taylor (of the Taylor Rule) discusses Fed policy (medium):
http://online.wsj.com/article/SB10001424052702303816504577307403971824094.html?mod=googlenews_wsj

Another view of the Fed (medium):
http://www.nakedcapitalism.com/2012/03/michael-hudson-on-the-federal-reserve-system.html


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.