Morning Journal-On political polarization

Economics

This Week’s Data

The International Council of Shopping Centers reported sales of major retailers down 0.7% versus the prior week but up 2.9% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 0.6% versus the similar timeframe last month and up 2.0% on a year over year basis.

The US budget deficit was $125 billion in May.

Weekly mortgage applications jumped 18.0% while purchase applications were up 19.0%.
http://www.calculatedriskblog.com/2012/06/mba-mortgage-applications-reach-highest.html

The May producer price index fell 1.0% versus expectations of a 0.6% decline; core PPI was up 0.2% in line with estimates.

May retail sales fell 0.2% in line with forecasts: ex autos, sales were down 0.4% versus expectations of a 0.1% decline.
http://www.calculatedriskblog.com/2012/06/retail-sales-decline-02-in-may.html


Politics

Domestic

Mickey Kaus on political polarization (medium):
http://dailycaller.com/2012/06/12/two-cheers-for-polarization/

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.