Morning Journal-Why there are no investment bankers in jail

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 2.5% versus the prior week but up 2.4% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 1.8% up 1.8% versus the similar timeframe last month and up 2.4% on a year over year basis.

            The second quarter treasury deficit came in at -$117.4 billion versus expectations of -$125.0 billion and first quarter’s number of -$137.3 billion.

   Other

            Builder confidence rises in September (short):

            http://mjperry.blogspot.com/2012/09/builder-confidence-index-rises-in.html

            The trend profile of 17 economic indicators (short):

            http://www.capitalspectator.com/archives/2012/09/economic_trend.html#more

            Update on the Taylor Rule (short):

            http://www.zerohedge.com/news/taylor-rule-says-fed-should-be-tightening-now

            Update on median income and median bet worth (2 minute video):

            http://www.zerohedge.com/news/one-chart-george-washington-would-not-want-see

Politics

  Domestic

Can voters handle the truth (short/medium):

http://www.realclearmarkets.com/articles/2012/09/18/are_voters_ready_to_make_the_tough_fiscal_choices_99888.html

Thomas Sowell on the GOP’s lack of ability to communicate (medium):

http://townhall.com/columnists/thomassowell/2012/09/18/can_republicans_talk

Why there are no investment bankers in jail (4 minute video):

http://www.ritholtz.com/blog/2012/09/post-crisis-banking-why-wall-street-always-wins/

Speaking of which (short):

http://www.zerohedge.com/news/head-mf-global-equity-derivatives-trading-launches-hedge-fund

What the latest futures are saying about the election (short):

http://www.zerohedge.com/news/schrodinger-election-futures-market-and-fiscal-gridlock

All you ever wanted to know about taxes but were afraid to ask (medium):

http://www.zerohedge.com/news/your-taxes-work-all-you-need-know-about-who-pays-what-taxes-us

  International War Against Radical Islam

            US’ Iranian policy (medium):

            http://www.washingtonpost.com/opinions/charles-krauthammer-the-abandonment/2012/09/13/96b88174-fde3-11e1-b153-218509a954e1_story.html

                       

            And our policy on our embassy attacks (medium):

            http://www.nationalreview.com/articles/322392/susan-rices-dodge-rich-lowry

            Speaking of which:

            http://www.zerohedge.com/news/chinese-protesters-chant-down-us-imperialists-attack-car-us-ambassador-beijing