Morning Journal--America is no longer a nation of builders

 News on Stocks in Our Portfolios courtesy of Seeking Alpha

 

Scotiabank (BNS): FQ1 EPS of $1.27 beats by $0.02.

Sun Hydraulics (SNHY): Q4 EPS of $0.26 beats by $0.03. Revenue of $43.2M (-5% Y/Y) beats by $1.8M.

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.2% versus the prior week and up 1.8% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 1.3% versus the similar timeframe last month and up 2.2% on a year over year basis.

            The February Institute for Supply Management’s nonmanufacturing index came in at 56.0 versus expectations of 55.0.

            http://scottgrannis.blogspot.com/2013/03/service-sector-continues-to-grow.html

   Other

            This time is not different (short):

            http://www.zerohedge.com/news/2013-03-05/ninjas-are-back-buy-life-insurance-get-no-doc-mortgage-loan-free

            More thoughts on Fed policy (short/medium):

            http://www.zerohedge.com/news/2013-03-05/qe-unsustainable-and-unfair-those-who-work-living

            In the weeds on the employment statistics (short):

            http://www.zerohedge.com/news/2013-03-06/chart-day-minimum-wage-non-recovery

Politics

  Domestic

Why all the rhetoric on the sequester is childish whining (short):

http://scottgrannis.blogspot.com/2013/03/the-sequester-doesnt-cut-spending-at-all.html

The sequester and the TSA (medium):

http://michellemalkin.com/2013/03/05/tsa-agents-uniforms/

No sequester for Egypt (short):

http://www.powerlineblog.com/archives/2013/03/no-sequester-for-egypt.php

A thoughtful comparison on the minimum wage and the sequester (short):

http://cafehayek.com/2013/03/minimum-consistency.html

Great editorial from Rich Lowry on why America is no longer a nation of builders (medium and a must read):

http://www.nationalreview.com/articles/342154/beetle-and-pipeline-rich-lowry

            This can’t be good news (short):

            http://www.zerohedge.com/news/2013-03-05/one-drone-missing-reward-offered-please-contact-fbi