Thursday, April 4, 2013

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%.

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

            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.

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

   Other

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

            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):

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

            What happened to global warming (medium):

            The decline of the US constitution (medium):

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