Morning Journal--Romney/Ryan and the fiscal cliff

Economics

This Week’s Data

Weekly mortgage applications fell 7.4% but purchase applications rose 0.9%.
http://www.calculatedriskblog.com/2012/08/mba-mortgage-refinance-activity.html

July existing home sales rose 2.2% versus expectations of a 2.9% increase.
http://www.calculatedriskblog.com/2012/08/existing-home-sales-in-july-447-million.html

Weekly jobless claims rose 7,000 versus estimates of a 1,000 decline.
http://www.calculatedriskblog.com/2012/08/weekly-initial-unemployment-claims_23.html


Politics

Domestic

When is enough, enough (medium):
http://www.nationalreview.com/articles/314484/are-we-doomed-victor-davis-hanson

Romney/Ryan and the ‘fiscal cliff’:
http://www.zerohedge.com/news/romneyryan-and-fiscal-cliff

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.