Wednesday, March 13, 2013

Morning Journal---modern monetary theory


Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.7% 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 2.7% on a year over year basis.

            Weekly mortgage applications fell 4.7% while purchase applications dropped 3.0%.

            February retail sales rose 1.1% versus expectations of an increase of 0.2%; ex autos and gas, they were up 0.4% versus estimates of up 0.3%.

   Other

            Modern monetary theory---a bit long and in the weeds.  But you are going to be hearing a lot more about; so you might as well understand it now:

            How green are electric cars (short):

            Additional information on the small business sentiment survey (short):

Politics

  Domestic

How likely is it that Obama and the GOP can reach a budget deal?: (medium):

In desperate need of adult supervision (medium):

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