Morning Journal--More on the impending student loan crisis

Economics

   This Week’s Data

            October new home sales fell slightly but September sales were revised down 5.3%.

            http://www.calculatedriskblog.com/2012/11/new-home-sales-and-distressing-gap.html

            The Fed released its most recent Beige Book which was generally up beat though it took pains to point out the impact of Sandy in multiple geographic and economic sectors.

            Revised third quarter GDP came in up 2.7% versus expectations of up 2.8% and the initial report of up 2.0%; the GDP deflator was up 2.7% versus estimates of up 2.8% and the initial report of up 2.8%; corporate profits were up 18.6%.

            Weekly jobless claims fell 13,000 versus forecasts of a 26,000 decline.

            http://www.calculatedriskblog.com/2012/11/weekly-initial-unemployment-claims_29.html

   Other

            More still on the impending student loan crisis (medium):

            http://www.nakedcapitalism.com/2012/11/escalating-delinquency-rates-make-student-loans-look-like-the-new-subprime.html

            More on Fed policy (short):

            http://pragcap.com/when-the-credit-transmission-mechanism-breaks

Politics

  Domestic

Another example of the sheer lunacy of our environmental policy (medium):

http://michellemalkin.com/2012/11/28/obama-the-job-killing-owl-killer/

            And this example of the collusion between the political class and the financial class (medium):

            http://www.zerohedge.com/news/2012-11-29/goldman-wins-again-european-union-court-rules-keep-ecb-involvement-greek-debt-fudgin

           

  International War Against Radical Islam

            Egypt’s new despot (medium):

            http://www.nationalreview.com/author/56454/latest

            Susan Rice’s talking points (medium):

            http://www.weeklystandard.com/articles/susan-rice-s-talking-points_663527.html