Morning Journal--The problem with manufacturing

Economics

   This Week’s Data

            US November PMI came in at 52.8 versus expectations of 52.1 and October’s reading of 51.0.

            The November Institute for Supply Management’s manufacturing index was reported at 49.5 versus estimates of 51.7 and October recording of 51.7.

            http://www.capitalspectator.com/archives/2012/12/ism_manufacturi.html#more

            October construction spending rose 1.4% versus forecasts of a 0.4% increase. 

            http://www.calculatedriskblog.com/2012/12/construction-spending-increased-in.html

                November auto sales were up about 6%.

                http://www.zerohedge.com/news/2012-12-03/gm-channel-stuffing-wtf

   Other

            The problem with manufacturing (medium):

            http://seekingalpha.com/article/1040551-the-problem-with-the-return-of-manufacturing?source=email_authors_alerts&ifp=1

            Is the global commodity cycle dead? (medium):

            http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9717728/The-worlds-commodity-supercycle-is-far-from-dead.html

            Monetary policy update (medium):

            http://scottgrannis.blogspot.com/2012/11/monetary-policy-update.html

            JP Morgan lowers US fourth quarter GDP estimate (medium):
            http://www.zerohedge.com/news/2012-12-03/jpm-cuts-q4-gdp-forecast-15-now-sees-iphone-sales-contribute-33-growth-upside

            Weekly gasoline update (short):

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

Politics

  Domestic

The White House response to capping deductions versus raising marginal rates (medium):

http://www.whitehouse.gov/blog/2012/11/29/limiting-tax-deductions-reality-math

            Forget ‘fair’, let’s talk about stupid (medium):

            http://www.thereformedbroker.com/2012/12/02/forget-fairness-lets-talk-about-stupidity/

            It appears that there is incestuous behavior in other government/industry nexus besides Wall Street/the Fed (medium):

            http://www.zerohedge.com/news/2012-12-03/shocking-statistics-behind-pentagons-revolving-door-policy

            The consequences of political conceit (short):

            http://cafehayek.com/2012/12/quotation-of-the-day-479.html

            Obama is not ‘spreading the wealth’ (short):

            http://www.zerohedge.com/news/2012-12-03/guest-post-still-not-spreading-wealth-around

-->