Thursday, May 10, 2012

Morning Journal-The latest government screw job


Economics

This Week’s Data


March wholesale inventories were up 0.3% versus expectations of up 0.6%; wholesale sales were up 0.5%.

The US March trade deficit was $51.8 billion versus estimates of $49.5 billion.

Weekly jobless claims rose 2,000 versus forecasts of a decline of 1,000; however, the prior week was revised up 3,000, so the net was down 1,000.
http://www.calculatedriskblog.com/2012/05/weekly-initial-unemployment-claims-at.html

Other

Tax cuts versus spending increases---a side by side comparison (medium):
http://mjperry.blogspot.com/2012/05/anti-keynesian-supply-side-tax-and.html

Citigroup Economic Surprise Index (short):
http://pragcap.com/a-nosedive-in-the-cesi

The latest from Charles Biderman (3 minute video):
http://www.zerohedge.com/news/europe-has-started-endgame-and-biderman-says-us-next

Politics

Domestic


More mischief from our political class (medium):
http://www.jewishworldreview.com/cols/will050512.php3

And this from the IRS. Hint: if you don’t want to be outraged, don’t watch this 6 minute video:
http://www.wthr.com/video?clipId=7054149&topVideoCatNo=103348&autoStart=true



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.