Economics
This Week’s Data
July producer prices were reported up 0.3% versus expectations of up 0.2%; ex food and energy, they were up0.4% versus estimates of up 0.2%.
July retail sales powered forward at +0.8% versus forecasts of +0.3%; ex autos, they were up 0.9% versus an anticipated rise of 0.3%
http://www.calculatedriskblog.com/2012/08/retail-sales-increased-08-in-july.html
Other
Interview with Alan Simpson (Simpson Bowles) (9 minute video and today’s absolute must see):
http://www.zerohedge.com/news/alan-simpson-confirms-reality-all-things-you-love-will-not-come-pass
America’s energy bonanza (medium):
http://mjperry.blogspot.com/2012/08/more-on-americas-energy-bonanza.html
C&I loans continue to grow (short):
http://scottgrannis.blogspot.com/2012/08/no-shortage-of-money-cont.html
Save the banks but jail the banksters (medium):
http://www.nakedcapitalism.com/2012/08/criminal-sanctions-how-to-save-banks-without-rewarding-bankers.html
Update on small business sentiment (short):
http://advisorperspectives.com/dshort/updates/NFIB-Small-Business-Optimism-Index.php
Update on gasoline prices (short):
http://advisorperspectives.com/dshort/updates/Gasoline-Update.php
Politics
Domestic
At last, a bankster appears to be heading for jail (short):
http://www.zerohedge.com/news/peregrine-financial-ceo-indicted-31-charges
News on Stocks in Our Portfolios
More quarterly earnings per share reports:
Reported Expected
Sysco $.62 $.56
Home Depot 1.01 .98
Holly Frontier declared a special dividend of $.50 per share.
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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