Morning Journal-Wisconsin and fiscal reality

Economics

This Week’s Data

The Fed released its newest Beige Book which I would summarize as ‘the economy does not need any new help (monetary easing)’. If they stick to that conclusion, then I applaud. Providing a bit more detail: (1) the economy is improving at a moderate pace, (2) construction spending, manufacturing and capital spending are all in positive trends and (3) price inflation is modest.
http://www.calculatedriskblog.com/2012/06/feds-beige-book-economic-activity.html

In addition, following an ECB meeting, Mario Draghi declined to give any hint of monetary assistance to the EU countries or banks.

Weekly jobless claims fell 7,000 versus expectations of a 5,000 decline.
http://www.calculatedriskblog.com/2012/06/weekly-initial-unemployment-claims.html


Politics

Domestic

Wisconsin and fiscal reality (medium):
http://www.realclearmarkets.com/articles/2012/06/06/governor_walker_refused_to_hide_from_fiscal_reality_99706.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.