Morning Journal--US Middle East policy

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Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailer sup 0.6% versus the prior week and up 2.9% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 2.0% on a year over year basis.

            The July Case Shiller home price index rose 0.4% versus expectations of an increase of 0.9%.

            http://www.aei-ideas.org/2012/09/2012-the-year-of-the-housing-recovery-updated-2/

            The September Richmond Fed’s manufacturing index came in at +4.0 versus estimates of -4.0.

            http://advisorperspectives.com/dshort/commentaries/Richmond-Fed-Manufacturing.php

            September consumer confidence rose to 70.3 versus forecasts of 64.8.

http://advisorperspectives.com/dshort/updates/Conference-Board-Consumer-Confidence-Index.php

                Weekly mortgage applications rose 2.8% while purchase applications were up 1.0%.

   Other

            The US now ranks 18^th in economic freedom (short):

            http://www.zerohedge.com/news/2012-09-25/decling-economic-freedom-united-states

Politics

  Domestic

  International War Against Radical Islam

            An interview with Andrew McCarthy on our Middle East policy (long but worth the read):

            http://www.nationalreview.com/articles/328309/doctor-mccarthy-interview?pg=1

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.