Morning Journal--Obama nominees

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers fell 4.2% versus the prior week but rose 4.0% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales down 0.3% versus the similar timeframe last month and up 2.1% on a year over year basis.

            November consumer credit was up driven by auto and student loans:

            http://www.zerohedge.com/news/2013-01-08/november-consumer-credit-soars-driven-student-and-car-loans-95-all-2012-consumer-loa

            Weekly mortgage applications rose 11.7% while purchase applications were up 10.0%.

   Other

            Wednesday morning humor (must watch):

            http://www.zerohedge.com/news/2013-01-08/stephen-colbert-takes-trillion-dollar-coin

            Explaining income inequality (medium):

            http://www.aei-ideas.org/2013/01/income-inequality-can-be-explained-by-demographics-and-because-the-demographics-change-theres-income-mobility/

            The economy continues to grow but at a sub par pace (medium):

            http://www.capitalspectator.com/archives/2013/01/us_economic_tre_5.html#more

            Thoughts on infrastructure spending (medium):

            http://noahpinionblog.blogspot.co.uk/2013/01/why-multiplier-doesnt-matter.html?utm_source=dlvr.it&utm_medium=twitter&m=1

           

            How Draghi is reshaping the ECB (medium/long):

            http://www.reuters.com/article/2013/01/09/us-draghi-ecb-inside-idUSBRE90807H20130109

Politics

  Domestic

Your new nominee for CIA director (short):

http://michellemalkin.com/2013/01/07/obamas-cair-kowtowing-cia-director-nominee/

  International War Against Radical Islam

            Obama, Hagel and Iran (medium):

            http://www.weeklystandard.com/author/stephen-f.-hayes