Morning Journal--Dream weaving at the Bank of Japan

Economics

   This Week’s Data

            The August US budget deficit was $128.7 billion versus expectations of $130.0 billion.

            August retail sales rose 0.6%, in line; ex autos and gas, they were up 0.5% versus estimates of up 0.4%; July sales were revised up across the board.

   Other

            Quote of the day---the role of the Fed (short):

            http://cafehayek.com/2014/09/quotation-of-the-day-1107.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

            The failures of the Fed (medium):

            http://www.nakedcapitalism.com/2014/09/fed-fails-um-irony.html

            Bloomberg’s comfort index (chart):

            http://www.zerohedge.com/news/2014-09-11/how-you-know-time-more-qe-has-come

            Dream weaving at the Bank of Japan (short):

            http://www.zerohedge.com/news/2014-09-11/dollar-yen-pumps-then-dumps-kuroda-punks-algos