Morning Journal---Europe just keeps getting worse

Economics

   This Week’s Data

            April pending home sales rose 0.3% versus expectations of a 1.4% increase.

            April personal income came in flat versus estimates of a 0.1% increase; personal spending fell 0.2% versus forecasts that it would be unchanged.

            ***over night, Japanese industrial production was stronger than anticipated, inflation was in line and household spending was weaker than expected.  In Europe, unemployment came in a t record highs and CPI was higher than estimates.

   Other

            World credit cycle rolling over (medium):

            http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10087843/No-saviour-in-sight-as-world-credit-cycle-rolls-over.html

            The Fed and interest rates (medium):

            http://scottgrannis.blogspot.com/2013/05/qe3-proves-fed-is-powerless-to.html

Politics

  Domestic

The latest comic turn in the Eric Holder scandal (short):

http://www.zerohedge.com/news/2013-05-30/virtually-entire-us-media-boycotts-record-meeting-eric-holder

  International

            The road that Europe is on (short):

            http://www.nationalreview.com/corner/349640/road-europe-mark-steyn

            And (short):

            http://www.powerlineblog.com/archives/2013/05/britains-suicidal-self-delusion.php

                And a special hat tip to Sweden (medium):

            http://www.zerohedge.com/news/2013-05-30/4-incendiary-charts-trouble-socialist-paradise