Morning Journal--Freddie, Fannie masking billions in losses

     News on Stocks in Our Portfolios

Medtronic EPS in-line, misses on revenue

·                                 Medtronic (MDT): FQ1 EPS of $0.88 in-line.

·                                 Revenue of $4.1B misses by $0.01B. (PR)

Home Depot beats by $0.03, beats on revenues

·                                 Home Depot (HD): Q2 EPS of $1.24 beats by $0.03.

·                                 Revenue of $22.52B beats by $0.78B. (PR)

Economics

   This Week’s Data

            The Chicago Fed’s July national activity index came in at -.15 up from a revised -.23 reading in June.

   Other

            Freddie, Fannie masking billions in losses (short):

            http://www.zerohedge.com/news/2013-08-19/fannie-freddie-masking-billions-losses-watchdog-finds

            Germany recognizes bitcoin as a currency (medium):

            http://www.zerohedge.com/node/477785

            The trend in consumer loans (short):

            http://www.zerohedge.com/news/2013-08-19/tapering-imminent-spot-consumer-loans-trend

Politics

  Domestic

The economics of solar panels (short):

http://www.aei-ideas.org/2013/08/rochester-man-installs-solar-panels-on-his-home-to-help-educate-taxpayers-about-the-wastefulness-of-subsidies/

Obama on asset bubble creation (medium):

http://www.zerohedge.com/news/2013-08-19/bubble-watcher-chief-speaks-no-more-bubbles

DOJ picks up where FERC left off; sorry Jamie (medium):

http://www.zerohedge.com/news/2013-08-19/doj-picks-where-ferc-left-begins-investigation-jpmorgans-enronesque-energy-market-ma

  International

            The comeback in Europe (short):

            http://www.thereformedbroker.com/2013/08/19/chart-o-the-day-economic-comebacks-by-country/