Morning Journal---The declining importance of the dollar

Economics

   This Week’s Data

            The June Philadelphia Fed manufacturing index was reported at 17.8 versus expectations of 13.0.

            http://www.calculatedriskblog.com/2014/06/philly-fed-manufacturing-survey.html

            June leading economic indicators came in up 0.5% versus estimates of up 0.6%.

            http://advisorperspectives.com/dshort/updates/Conference-Board-Leading-Economic-Index.php

   Other

            Anecdotal evidence on the Chinese economy (short):

            http://www.zerohedge.com/news/2014-06-19/caterpillar-asia-sales-crater-30-company-reports-weakest-stretch-global-demand-lehma

            The declining importance of the dollar (short):

            http://www.zerohedge.com/news/2014-06-19/de-dollarization-continues-china-starts-direct-trade-uk

Politics

  Domestic

Quote of the day (short):

http://cafehayek.com/2014/06/quotation-of-the-day-1025.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

  International

            The latest from Iraq (medium):

            http://www.zerohedge.com/news/2014-06-19/did-saddam-have-wmds-after-all-isis-overruns-iraq-chemical-weapons-mega-facility