Economics
This Week’s Data
Weekly jobless claims fell 4,000 versus expectations of a 2,000 increase.
http://www.calculatedriskblog.com/2012/08/weekly-initial-unemployment-claims_9.html
The US June trade deficit came in at $42.9 billion versus estimates of $47.5 billion.
Other
Ken Rogoff (of Reinhart and Rogoff) on low interest rates (medium):
http://www.project-syndicate.org/commentary/how-long-for-low-rates-by-kenneth-rogoff
A response to the call for QEIII (medium):
http://www.zerohedge.com/news/guest-post-qe-forever-and-ever
Job openings continue to increase (short):
http://mjperry.blogspot.com/2012/08/june-job-openings-highest-in-four-years.html
Seven tricks your mind plays on you (medium):
http://lifehacker.com/5931962/7-tricks-your-mind-plays-on-you-and-how-to-fight-back
Used vehicle price index not looking good (short):
http://www.zerohedge.com/news/used-vehicle-prices-plunge-signaling-end-auto-party
Politics
Domestic
The problem with subsidies (short):
http://mjperry.blogspot.com/2012/08/why-taxpayer-subsidies-of-solar-are.html
More on your government at work (medium):
http://www.powerlineblog.com/archives/2012/08/the-obama-administration-pays-illegal-aliens-to-come-here.php
A look at how the US financial crisis was (wasn’t) handled. This article gets into the weeds but clearly demonstrates the Washington/Wall Street connection (medium/long):
http://www.nakedcapitalism.com/2012/08/barofsky-v-geithner-and-administration-mouthpieces-yglesias-edition.html
International
China investing heavily in Africa (medium):
http://www.zerohedge.com/news/beijing-conference-see-how-china-quietly-took-over-africa
News on Stocks in Our Portfolios
More quarterly earnings per share reports:
Reported Expected
Expeditors Int’l $.30 $.34
HollyFrontier 2.39 2.32
Tom Horton .69 .69
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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