Economics
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers up 2.0% versus the prior week and up 3.0% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 2.2% on a year over year basis.
Weekly mortgage applications fell 2.1% but purchase applications rose 3.0%.
http://www.calculatedriskblog.com/2012/07/mba-record-low-mortgage-rates-mortgage.html
The US May trade deficit came in at $48.7 billion, down from April (lower oil prices) and in line with estimates.
http://www.calculatedriskblog.com/2012/07/trade-deficit-declines-in-may-to-487.html
Other
The argument for QEIII (medium):
http://www.bloomberg.com/news/2012-07-09/fed-harms-itself-by-missing-goals-stevenson-and-wolfers.html
Some demoralizing thoughts on the economy (medium):
http://www.minyanville.com/special-features/random-thoughts/articles/todd-harrison-todd-harrison-minyanville-todd/7/10/2012/id/42274
Politics
Domestic
A step in the right direction? Yeah, right. (medium):
http://www.nypost.com/p/news/opinion/opedcolumnists/steps_in_the_double_talk_direction_q3SG1WHwohLs9lB3SLnRMI
More on your tax dollars at work (medium):
http://www.nationalreview.com/articles/305894/rise-food-stamp-nation-rich-lowry
And (medium):
http://www.jewishworldreview.com/cols/will070812.php3
The moral case for free enterprise (8 minute video):
http://www.powerlineblog.com/archives/2012/07/the-moral-case-for-free-enterprise.php
International
Third aircraft carrier returns to Middle East (medium):
http://www.zerohedge.com/news/third-us-aircraft-carrier-returning-unexpectedly-mideast-ahead-schedule
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.
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