Morning Journal--Morgan exiting the student loan business

Economics

   This Week’s Data

            July factory orders fell 2.4% versus expectations of a decline of 3.4%.

            The August Institute for Supply Management’s nonmanufacturing index came in at 58.6 versus estimates of 55.0.

            http://www.calculatedriskblog.com/2013/09/weekly-initial-unemployment-claims.html

            August nonfarm payrolls rose 169,000 versus forecasts o 175,000; the unemployment rate dropped from 7.4% to 7.3%.

   Other

            Why we keep having bubbles (medium):

            http://www.zerohedge.com/news/2013-09-05/guest-post-maybe-why-we-now-have-serial-bubble-economy

            Speaking of bubbles, JP Morgan is getting out of the student loan business (medium):

            http://www.zerohedge.com/news/2013-09-05/jpmorgan-stop-making-student-loans

            Japan upgrades its economic outlook (medium):

            http://blogs.wsj.com/economics/2013/09/06/japan-government-upgrades-economic-assessment/

Politics

  Domestic

Among the senators on the senate foreign relations committee, guess which ones received the most donations from the defense industry?  You don’t have to guess, because you know:

http://www.zerohedge.com/news/2013-09-05/pro-war-senator-votes-bought-83-more-defense-lobby-money

  International

            Stick it to Putin (medium):

            http://app.hedgeye.com/unlocked_content/30562-stick-it-to-putin-here-s-how?alt_show_url=%2Fmedia%2Fall&page=1

            Problems in Asia (medium):

            http://www.zerohedge.com/news/2013-09-05/panic-smuggling-diamonds-out-india