Economics
This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailer down 0.4% versus the prior week but up 3.7% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 2.5% on a year over year basis.
Second quarter productivity was reported at +2.2% versus expectations of +1.9%; unit labor costs rose 1.5% versus estimates of up 1.4%.
Weekly jobless claims fell 9,000 versus forecasts of a decline of 4,000.
http://www.calculatedriskblog.com/2012/09/weekly-initial-unemployment-claims.html
Other
August auto sales (short):
http://mjperry.blogspot.com/2012/09/auto-sales-reach-45-year-high-in-august.html
Chinese industrial production declines (chart):
http://www.zerohedge.com/news/chart-day-china-industrial-lack-production
Politics
Domestic
Are you better off---a look at the numbers (medium):
http://www.thefiscaltimes.com/Articles/2012/09/04/Are-You-Better-Off-Here-Are-the-Numbers.aspx#page1
The math of the auto bailout (medium):
http://michellemalkin.com/2012/09/05/obamas-unamerican-auto-bailout/
The math of taxing millionaires and billionaires (medium):
http://townhall.com/columnists/thomassowell/2012/09/05/bait_and_switch_taxes
The math of too big to fail (medium):
http://www.thereformedbroker.com/2012/09/05/rahm-emanuels-too-big-to-fail-lie/
More evidence of Wall Street/SEC inbreeding to the detriment of investors (long/medium):
http://www.zerohedge.com/news/bloomberg-foia-documents-how-wall-street-made-muppet-sec-and-dodd-frank
Medicare’s unsustainability (short):
http://www.zerohedge.com/news/spot-unsustainable-entitlement
International War Against Radical Islam
USS Stennis will soon join two other carriers off Iranian coast (medium):
http://www.zerohedge.com/news/us-aircraft-carrier-stennis-now-en-route-join-enterprise-and-eisenhower-just-iranian-coast
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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