Morning Journal--George Will on government regulation

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 1.9% versus the prior week and up 4.3% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 0.6% versus the similar timeframe last month and up 2.9% on a  year over year basis.

            The US April trade deficit came in at -$40.3 billion versus expectations of -$41.2 billion.

            http://www.calculatedriskblog.com/2013/06/trade-deficit-increased-in-april-to-403.html

                Weekly mortgage applications dropped 11.5% while purchase applications fell 2.0%

            ADP May private payrolls reported showed a rise in employment of 135,000 versus expectations of 171,000; in addition, the already dismal April number was revised down.

   Other

            ***overnight in a speech, Abe promised more growth, laughter ensued and the Nikkei dropped 700 points.

            China and the EU tangle over solar panel pricing (medium):

            http://www.zerohedge.com/news/2013-06-04/here-come-trade-wars-europe-imposes-duties-china-solar-panels

Politics

  Domestic

Thomas Sowell on the immigration debate (medium):

http://townhall.com/columnists/thomassowell/2013/06/04/abstract-immigrants-n1612011

George Will on government regulation (medium):

http://www.jewishworldreview.com/cols/will06013.php3#.Ua4uAtLVCAg

Some items on which the IRS spends Your Money (medium):

http://www.zerohedge.com/news/2013-06-04/what-irs-spends-your-money

  International

            The American public is still unaware of the content of most of the documents sized in the Bin Laden raid (medium):

            http://www.weeklystandard.com/author/stephen-f.-hayes

            Krauthammer on Obama’s ‘ending’ the war on terror (medium):

            http://www.washingtonpost.com/opinions/charles-krauthammer-obamas-dorothy-doctrine/2013/05/30/469fcffc-c954-11e2-8da7-d274bc611a47_story.html

            A slight improvement in the EU economy (medium):

            http://www.macrobusiness.com.au/2013/06/european-recession-eases/