Econo
mics
This Week’s Data
The
International Council of Shopping Centers reported weekly sales of major
retailers up 3.3% versus the prior week and up 4.0% versus the comparable
period a year ago; Redbook Research reported month to date retail chain store
sales up 0.8% versus the similar timeframe last month and up 4.5% on a year
over year basis. Both numbers were
impacted by the timing of Thanksgiving and Black Friday.
October
durable goods came in flat versus expectations of being down 0.8% and
September’s reading of +0.8%; ex transportation the stats were a lot
better---up 1.5% versus estimates of down 0.4% and September’s report of +2.0%.
The
September Case Shiller home price index rose 0.4%, in line with forecasts.
November
consumer confidence came in at 73.7 versus expectations of 72.8 and 72.2
recorded in October.
The
Richmond Fed November manufacturing index was reported at +9 versus estimates
of -8 and October’s reading of -7.
Weekly mortgage
applications fell 0.9% but purchase applications rose 3.0%.
Other
Thoughts
on economic policy making (medium):
A
comparison of tax rates versus taxes paid in 1950 and today (medium):
The
latest on student loans (short and a must read):
Politics
Domestic
John
Fund on voter fraud (medium):
Welcome
to the future of healthcare (medium):
http://www.nakedcapitalism.com/2012/11/i-have-seen-the-future-of-your-health-insurance-it-sucks.html
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