Morning Journal--The age of financial repression

Economics

   This Week’s Data

            November retail sales advanced only modestly over disappointing October sales.  Sandy impacted the first two weeks of the month.

            October personal income was flat versus expectations of a 0.3% rise; personal spending fell 0.2% versus estimates of a 0.1% increase.  Both numbers were impacted by Sandy.

   Other

            The age of financial repression (medium and a must read):

            http://pragcap.com/read-of-the-day-viewing-the-market-through-beer-goggles

Politics

  Domestic

  International War Against Radical Islam

            Who won the battle of Gaza (medium):

            http://www.nationalreview.com/articles/334311/who-won-battle-gaza-clifford-d-may