Morning Journal--The Pope weighs in on economic policy

Economics

   This Week’s Data

            November light vehicle sales exceeded consensus:

            http://www.calculatedriskblog.com/2013/12/us-light-vehicle-sales-increase-to-164.html

                The International Council of Shopping Centers reported weekly sales of major retailers fell 2.8% versus the prior week but rose 2.5% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales were up 4.9% on a year over year basis.

            Weekly mortgage applications fell 12.8% while purchase applications were down 4.0%.

            The November ADP private payroll report showed jobs up 215,000 versus expectations of up 185,000.

            The October US traded deficit was $40.6 billion versus forecasts of $40.2 billion.

   Other

            The Pope weighs in on economic policy (short):

            http://gregmankiw.blogspot.com/2013/11/the-popes-rhetoric.html

            The latest data on median household income (short and worth a look):

            http://www.zerohedge.com/news/2013-12-03/chart-day-whats-bad-america-good-washington-dc

Politics

  Domestic

A liberal’s look at Obamacare (medium):

http://www.slate.com/articles/business/moneybox/2013/12/healthcare_gov_progress_report_living_down_to_americans_low_expectations.html

Detroit eligible for bankruptcy; pensions not exempt (medium):

http://www.zerohedge.com/news/2013-12-03/detroit-bankruptcy-judge-rules-allow-pension-cuts

  International War Against Radical Islam

            Another sterling achievement in Afghanistan (medium):

            http://cnsnews.com/news/article/ali-meyer/after-12-yrs-us-occupation-afghanistan-sets-record-growing-opium