Morning Journal-Austerity versus growth

Economics

This Week’s Data

April business inventories rose 0.4% versus expectations of an increase of 0.3%; however, business sales were up only 0.2%.

Weekly jobless claims rose 6,000 versus estimates of a 2,000 decline.
http://www.calculatedriskblog.com/2012/06/weekly-initial-unemployment-claims_14.html

The May consumer price index fell 0.3% in line with forecasts; core CPI rose 0.2% also as anticipated/

Other
US debt levels (short):
http://www.ritholtz.com/blog/2012/06/are-u-s-debt-levels-now-manageable/

Politics

Domestic

Austerity versus growth (medium):
http://www.nationalreview.com/articles/302438/austerity-versus-growth-victor-davis-hanson

Here is why the electorate needs to completely clean house, not just change the party in power (medium):
http://michellemalkin.com/2012/06/13/republican-surrenderists-for-obamacare/

More on your tax dollars at work (medium):
http://www.powerlineblog.com/archives/2012/06/the-latest-in-the-governments-war-on-standards.php

International War Against Radical Islam

Saudi’s tighten the noose on Iran (medium):
http://pragcap.com/the-saudis-tighten-the-noose-around-iran

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.