Morning Journal--More on China's financial problems

News on Stocks in Our Portfolios

Medivation, Inc. beats by $0.11, beats on revenue

·         Medivation, Inc. (MDVN): Q4 EPS of $0.03 beats by $0.11.

·         Revenue of $96.6M (+160.0% Y/Y) beats by $23.92M.

Western Gas Partners, L.P. beats by $0.10, beats on revenue

·         Western Gas Partners, L.P. (WES): Q4 EPS of $0.56 beats by $0.10.

·         Revenue of $290.62M (+36.5% Y/Y) beats by $17.82M.

Economics

   This Week’s Data

            The February Kansas City Fed manufacturing index was reported at 4 versus expectations of 2.

            http://www.calculatedriskblog.com/2014/02/kansas-city-fed-regional-manufacturing.html

            Revised fourth quarter 2013 GDP came in at +2.4% versus forecasts of +2.5%; the GDP price index was up 1.6% versus consensus of up 1.3%.

   Other

            Public debt---both sides of the ledger (I would like to know what is in his public asset calculation):

            http://pragcap.com/chart-of-the-day-both-sides-of-the-ledger

            More on the Chinese financial problems (medium):

            http://www.bloombergview.com/articles/2014-02-27/do-china-s-risk-signals-point-to-a-meltdown

            Rome on the verge of bankruptcy (medium):

            http://www.zerohedge.com/news/2014-02-27/rome-verge-detroit-style-bankruptcy

Politics

  Domestic

The next iteration of Obamacare (medium):

http://www.zerohedge.com/news/2014-02-27/obamacare-now-appearing-your-restaurant-bill

  International

            The latest from Ukraine:

            http://www.zerohedge.com/news/2014-02-27/two-russian-warships-enter-black-sea-through-bosphorus-another-docks-cuba

                        http://www.zerohedge.com/news/2014-02-27/meanwhile-more-russian-military-vehicles-amass-crimean

                        http://www.nytimes.com/2014/03/01/world/europe/russia-ukraine.html?_r=0