Morning Journal---When regulations make matter worse

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 1.7% versus the prior week and up 3.3% on a year over year basis; Redbook research reported month to date retail chain store sales down 1.2% versus the comparable period a month ago but up 6.0% versus the similar timeframe last year.

            Weekly mortgage applications rose 1.9% while purchase applications were up 4.0%.

   Other

            The latest JOLTS survey (short):

            http://blog.yardeni.com/2014/07/the-jolt-in-jolts-excerpt.html

            The good news (medium):

            http://scottgrannis.blogspot.com/2014/07/good-news-risk-aversion-is-declining.html

                Thoughts on inversion (medium):

            http://fortune.com/2014/07/07/taxes-offshore-dodge/

                Citicorp is set to pay $7 billion in mortgage fraud suit; still no jail time (medium):

                http://www.reuters.com/article/2014/07/09/citigroup-investigation-idUSL2N0PJ26W20140709?feedType=RSS&feedName=governmentFilingsNews

Politics

  Domestic

When regulations make matters worse (short):

http://www.coyoteblog.com/coyote_blog/2014/07/when-regulation-makes-things-worse-banking-edition.html

The irony of it all (short):

http://www.zerohedge.com/news/2014-07-08/freedom-summed-one-image

  International

            The hostilities in Israel/Palestine are now adding to the volatile mix in the Middle East (medium):

            http://www.zerohedge.com/news/2014-07-08/israel-escalates-gaza-assault-air-sea-threatens-lengthy-ground-operation