Morning Journal-The terrible state of retirement funding

Economics

This Week’s Data

May housing starts were off 1% versus expectations of a slight rise.
http://www.calculatedriskblog.com/2012/06/housing-starts-at-708-thousand-in-may.html

Other

Bank lending continues to grow (medium):
http://scottgrannis.blogspot.com/2012/06/bank-lending-continues-to-accelerate.html

The latest from Nouriel Roubini (medium):
http://www.project-syndicate.org/commentary/a-global-perfect-storm

Weekly update on gasoline prices (short):
http://advisorperspectives.com/dshort/updates/Gasoline-Update.php

And Brent-WTI spread (short):
http://www.bespokeinvest.com/thinkbig/2012/6/18/brent-wti-drops-to-lowest-levels-since-january.html


Politics

Domestic

The sorry state of pension and health insurance plan funding for retirees. If you are at or close to retirement, you absolutely have to read this (medium):
http://www.zerohedge.com/news/us-retirement-benefits-underfunding-rises-record-14-trillion

International War Against Radical Islam

More on the Egyptian elections from Stratfor (4 minute video):
http://www.zerohedge.com/news/egyptian-elections-and-israeli-escalations

News on Stocks in Our Portfolios

Oracle reported its fourth fiscal quarter’s earnings per share of $.82 versus expectations of $.78. It also announced a $10 billion stock buyback.

Walgreen reported its third fiscal quarter’s earnings per share of $.62 versus estimates of $.63. It raised its dividend by 22.5%.

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.