Morning Journal--Interview with Marc Faber and Jim Rogers

Economics

   This Week’s Data

            August factory orders fell 5.2% versus expectations of a 6.0% decline and July’s reading of +2.6%.

            The Fed released the minutes from its last FOMC meeting.  There were no new revelations with respect to its new ‘all in’ policy.  Most attention was focused on discussions on how the Fed communicates with the Market.

            September nonfarm payrolls rose 114,000 versus expectations of an increase of  113,000; unemployment rate dropped to 7.8%.

   Other

            A positive view of QEIII (medium):

            http://oldprof.typepad.com/a_dash_of_insight/2012/10/qe3-misconceptions-and-how-to-profit-1.html

            Natural gas and CO2 emissions (short):

            http://www.aei-ideas.org/2012/10/energy-fact-of-the-week-as-natural-gas-replaces-coal-for-electricity-generation-co2-emissions-fall-to-20-year-low/

            And we thought that too big to fail was a problem in the US?  Check this out (short):

            http://www.zerohedge.com/news/2012-10-04/who-really-calls-shots-europe

Politics

  Domestic

Breaking up the mega banks (medium):

http://www.nakedcapitalism.com/2012/10/why-breaking-up-megabanks-would-help-investors.html

Friday morning humor (40 second video):

http://www.zerohedge.com/news/2012-10-04/thursday-humor-climate-adjusted-reason-obama-lost-debate

Marc Faber and Jim Rogers in the same interview.  Today’s must read/watch (9 minute video):

http://www.zerohedge.com/news/2012-10-04/marc-faber-jim-rogers-our-clueless-ignorant-dangerous-leaders

  International War Against Radical Islam

            One week until US naval forces in the Arabian Sea reach maximum strength (short):

            http://www.zerohedge.com/news/2012-10-04/naval-update-t-minus-one-week-until-arabian-sea-destination-reached