Morning Journal--Sub prime auto loans join student loans as bubbles grow

Economics

   This Week’s Data

            Weekly mortgage applications fell 6.0% while purchase applications were up 1.0%.

            http://www.calculatedriskblog.com/2013/04/mba-mortgage-purchase-applications.html

            The March ADP private payroll report showed an increase of 158,000 jobs but that was 79,000 less than expected.

            http://www.calculatedriskblog.com/2013/04/adp-private-employment-increased-158000.html

            The March Institute for Supply Management’s nonmanufacturing index came in at 54.4 versus estimates of 56.0 and the February reading of 56.0.

            http://www.calculatedriskblog.com/2013/04/ism-non-manufacturing-index-indicates.html

                Weekly jobless claims rose 27,000 versus forecasts of a 7,000 decline.

                http://www.calculatedriskblog.com/2013/04/weekly-initial-unemployment-claims.html

   Other

            Sub prime auto loans join student loans as more credit bubbles grow (medium/long):

            http://www.zerohedge.com/news/2013-04-03/thanks-ben-bernanke-using-shotgun-down-payment-car

            An interesting thought from Ed Yardini: why is the Fed fighting productivity based deflation? (short):

            http://blog.yardeni.com/

Politics

  Domestic

One more unintended consequence of misguided government intervention in the markets (medium):

http://www.aei-ideas.org/2013/04/dont-blame-big-oil-for-high-gas-prices-blame-big-corn/

            A model: how the UK handled disability benefits (medium):

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

            What happened to global warming (medium):

            http://www.nationalreview.com/articles/344426/new-climate-deniers-rich-lowry

            The decline of the US constitution (medium):

            http://www.jewishworldreview.com/cols/will032713.php3#.UVxvH6KG2Ag