Economics
This Week’s Data
The Fed released its most recent Beige Book survey. Bottom line: it reflected continued improvement in the US economy measured both geographically and by industry. The main concern: high gasoline prices might crimp consumer spending.
http://www.calculatedriskblog.com/2012/04/feds-beige-book-economic-activity.html
The March US budget deficit came in at $198 billion versus expectations of $196 billion.
http://www.zerohedge.com/news/us-posts-biggest-march-budget-deficit-history-or-how-chart-became-chart
Weekly jobless claims rose 23,000 versus expectations of a 2,000 decline.
http://www.calculatedriskblog.com/2012/04/weekly-initial-unemployment-claims_12.html
The March producer price index was unchanged versus estimates of a rise of 0.3%; core PPI increased 0.3% versus forecasts of up 0.2%.
The February US trade deficit came in down $6.6 billion versus expectations of down $0.1 billion.
Other
In the discussion about austerity, ‘how’ is as important as ‘how much’ (medium):
http://www.voxeu.org/index.php?q=node/7836
The latest from Gary Shilling (long):
http://www.zerohedge.com/news/shilling-shuns-stocks-sees-sp-800
Goldman Sach’s update on the economy (medium):
http://www.zerohedge.com/news/goldman-previews-q2-sees-150k-jobs-month-created-and-slowing-economy
More on the student loan problem (short):
http://advisorperspectives.com/dshort/commentaries/Federal-Government-Assets-and-Student-Loans.php
Politics
Domestic
More bureaucratic insanity (short):
http://www.powerlineblog.com/archives/2012/04/another-reason-to-abolish-the-dept-of-homeland-security.php
News flash: Income inequality is worse under Obama than Bush (medium):
http://www.nakedcapitalism.com/2012/04/growth-of-income-inequality-is-worse-under-obama-than-bush.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.
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