Morning Journal---Cronyism in America

Economics

   This Week’s Data

            The February ISM nonmanufacturing index was reported at 51.6 versus expectation of 53.5.

            http://scottgrannis.blogspot.com/2014/03/service-sector-mixed.html

            The Fed released its latest Beige Book report; and it read pretty much as expected: (1) weather impacted most areas of the country, (2) but the economy continues to slowly improve.

            http://www.zerohedge.com/news/2014-03-05/beige-book-saw-modest-moderate-growth-despite-119-mentions-word-weather

            Weekly jobless claims fell 26,000 versus forecasts of a 10,000 decline.

            http://www.calculatedriskblog.com/2014/03/weekly-initial-unemployment-claims.html

            Fourth quarter productivity improved 1.8% versus estimates of +2.4%; unit labor costs fell 0.1% versus consensus of -0.5%.

   Other

Politics

  Domestic

Cronyism (short):

http://www.aei-ideas.org/2014/03/charles-koch-on-cronyism-and-his-idea-of-hope-and-change/

And (medium):

http://www.zerohedge.com/news/2014-03-05/david-stockman-berates-bruce-berkowitzs-bogus-bombast

The science of climate change (medium):

http://www.nationalreview.com/article/372447/obamas-pseudo-scientism-victor-davis-hanson

  International

            The latest from Ukraine (medium):

            http://www.zerohedge.com/news/2014-03-05/behind-kiev-snipers-it-was-somebody-new-coaltion-stunning-new-leak-reveals-truth

                        Until I saw the above article, I wasn’t going to link the below because a bit too over the top.  However, now (long but worth the read):

            http://consortiumnews.com/2014/03/02/what-neocons-want-from-ukraine-crisis/

            Dissonance in the gulf states (medium):

            http://www.zerohedge.com/news/2014-03-05/arab-states-unprecedentedly-withdraw-ambassadors-qatar-after-stormy-meeting