Morning Journal--Bad news from around the world

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.3% versus the prior week and up 2.5% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 0.4% versus the similar timeframe last month and up 2.9% on a year over year basis.

           

            Weekly mortgage applications fell 3.3% while purchase applications were down 3.0%.

   Other

            Household financial health continues to improve (short):

            http://scottgrannis.blogspot.com/2013/06/households-financial-health-continues.html

            What’s wrong with the economy---from a liberals viewpoint (medium):

            http://economix.blogs.nytimes.com/2013/06/17/the-current-u-s-economy-text-and-subtext/

            New warning signs from the Chinese economy (short):

            http://pragcap.com/chinas-economy-new-warning-signs

            Cyprus’ President asks for complete unwinding of EU bail in (medium):

            http://www.zerohedge.com/news/2013-06-18/cyprus-bail-blows-president-urges-complete-bailout-overhaul

            Delinquent loans in Spain surge (medium):

            http://www.zerohedge.com/news/2013-06-18/when-correlation-causation

            Another funding shortfall in Greece (short):

            http://www.zerohedge.com/news/2013-06-18/greece-has-one-month-plug-%E2%82%AC12-billion-healthcare-budget-hole

Politics

  Domestic

More foul play in our education system (medium):

http://www.nakedcapitalism.com/2013/06/nyu-administrators-create-student-debt-slaves-to-subsidize-summer-homes-ginormous-pension.html