Morning Journal-Why the economy is going nowhere

Economics

This Week’s Data

May consumer credit numbers soared $17.1 billion versus expectations of $8.5 billion:
http://www.zerohedge.com/news/revolving-consumer-credit-has-biggest-jump-2007-depository-institutions-turn-spigot

Small business sentiment nosedives:
http://advisorperspectives.com/dshort/updates/NFIB-Small-Business-Optimism-Index.php

Other

Gasoline price update:
http://advisorperspectives.com/dshort/updates/Gasoline-Update.php



Why the economy is going nowhere (medium):
http://www.realclearmarkets.com/articles/2012/07/09/why_us_economic_policy_is_paralyzed_99754.html

Civilian employment to population ratio (chart):
http://gregmankiw.blogspot.com/2012/07/monitoring-so-called-recovery.html

And (from John Hussman):
http://advisorperspectives.com/commentaries/hussman_7912.php

Politics

Domestic

More on your well spent tax dollars (short):
http://dailycaller.com/2012/07/08/good-news-for-obama/

The illogic of our current immigration ‘policy’ (medium):
http://www.washingtonpost.com/opinions/charles-krauthammer-the-imperial-presidency-revisited/2012/07/05/gJQAR66PQW_story.html

A study on high unemployment rates and incumbent re-election (short):
http://blog.stocktradersalmanac.com/post/Much-Ado-About-High-Unemployment-Rates--Incumbent-Reelections

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.