Wednesday, August 29, 2012

Morning Journal--$16,000,000,000,000 and counting


This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 0.5% versus the prior week and up 3.4% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 1.5% on a year over year basis.

The June Case Shiller home price index came in +0.9%.


The August Conference Board’s consumer confidence index was reported at 60.6 versus estimates of 65.9.

The August Richmond Fed’s manufacturing index came in at -9 versus forecasts of -10.

Weekly mortgage applications fell 4.3% though purchase applications increased by 1.0%.

The second revision of second quarter GDP came in at +1.7, in line while the GDP deflator was reported at +1.6%, in line.


A look at the ‘hollowing out’ of the middle class (medium):

China’s nonperforming loan problem (medium):

Another milestone for our political class: $16,000,000,000,000 in debt (short):

And (short):



Wednesday morning humor (2 minute video):

Health insurance and political risk (medium):

The war on children (medium):

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.