Thursday, May 30, 2013

Morning Journal-Obama's problems keep growing

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers were down 0.9% versus the prior week but up 2.8% versus the comparable period last year; Redbook Research reported month to date retail chain store sales were up 0.6% versus the similar timeframe in April and up 2.7% on a year over year basis.

            First quarter GDP growth was revised to 2.4% versus expectations of 2.5% and the initial reading of 2.6%; the GDP deflator came in at +1.1% versus estimates of +1.2%; corporate profits were up 4.0%.

            Weekly jobless claims rose 10,000 versus forecasts that they would be flat.

   Other

            The big boys are exiting the housing market (medium):

Politics

  Domestic

Freedom drives economic growth (medium):

More on Eric Holder’s potential perjury (medium):

More on the Sebelius slush fund.  What this article fails to mention is that only congress has the Constitutional authority over the purse; Sebelius’ (the executive branch) action is unconstitutional (medium):

            The power to bully (medium):

            And as long as I am heaping abuse on the ruling class, read the last dictum from the Department of Education (medium):

  International War Against Radical Islam

            Thoughts on Obama ending the war on terror (medium):

            The problem is that al Qaeda didn’t get the memo (short):

            More on the Benghazi investigation (medium):

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