Morning Journal - Oil prices and retail sales

Economics
This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 1.3% versus the prior week and up 1.7% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 0.4% versus the similar timeframe the prior month and up 3.0% on a year over year basis.

Weekly mortgage applications fell 1.2%; however, purchase applications rose 2.1%.

Other

Small business job growth slows in February (short):
http://www.capitalspectator.com/archives/2012/03/intuit_small_bu.html#more

German industrial orders plunge (short):
http://www.zerohedge.com/news/eur-jumped-january-german-non-eurozone-factory-orders-plunged

More on the ECRI recession call (short):
http://advisorperspectives.com/dshort/guest/Georg-Vrba-120306-ECRI-Recession-Call-Followup.php

Oil prices and retail sales (medium and today’s must read):
http://advisorperspectives.com/dshort/guest/Lance-Roberts-120306-The-Immediacy-Trap.php

Politics

Domestic

Milton Friedman on health care (short):
http://mjperry.blogspot.com/2012/03/classic-milton-friedman-on-health-care.html

Another green energy boondoggle (medium):
http://michellemalkin.com/2012/03/06/ripping-the-lid-off-of-colorados-solyndra/

The church of big government (medium):
http://www.steynonline.com/4857/the-church-of-big-government

The Constitution and Obamacare (medium):
http://www.powerlineblog.com/archives/2012/03/the-constitution-and-the-president-a-footnote.php

A not very promising look at America going forward (medium):
http://www.ritholtz.com/blog/2012/03/western-civilisation-decline-%E2%80%93-or-fall/

International

A look at the Chinese economy and its growth prospects (medium):
http://www.zerohedge.com/news/china-and-end-commodity-super-cycle

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.