Morning Journal--Why I am a skeptic

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailer up 0.2% versus the prior  week and up 2.8% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 1.6% on a year over year basis.

            Weekly mortgage applications fell 1.2%, while purchase applications rose 2.0%.

   Other

            Growth in real household income is not encouraging (medium):

            http://advisorperspectives.com/commentaries/dshort_10912.php

            What happened to peak oil (medium):

            http://www.capitalspectator.com/archives/2012/10/who_moved_my_pe.html#more

            Wells Fargo, US second best bank and Buffett’s favorite, joins JPM in court (short):

            http://www.zerohedge.com/news/2012-10-09/buffetts-favorite-bank-wells-fargo-sued-us

            The Libor price fixing model now moves to crude oil (medium):

            http://www.zerohedge.com/news/2012-10-09/libor-gate-comes-crude-total-exposes-price-fixing-energy-market

            What all that cash on corporate balance sheets means (medium):

            http://www.zerohedge.com/news/2012-10-09/guest-post-are-businesses-quietly-preparing-financial-apocalypse

            11 myths about the Fed (medium):

            http://www.zerohedge.com/news/2012-10-09/woods-murphy-refute-11-myths-about-fed

            Weekly gasoline update (short):

            http://advisorperspectives.com/dshort/updates/Gasoline-Update.php

Politics

  Domestic

Why I am a skeptic (medium):

http://www.bloomberg.com/news/2012-10-08/romney-s-party-isn-t-fiscally-responsible.html

111 years of US government taxes and spending (short):

http://www.zerohedge.com/news/2012-10-09/charts-day-111-years-federal-tax-revenues-and-spending

            The unstimulus (medium):

            http://www.zerohedge.com/news/2012-10-09/guest-post-unstimulus