Morning Journal--the latest from David Rosenberg

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.7% versus the prior week and up 4.0% on a year over year basis; Redbook Research reported month to date retail chain store sales up 0.2% versus the comparable period last month and up 4.9% versus the similar timeframe a year ago.

            Weekly mortgage applications fell 7.2% while purchase applications were down 3.0%.

           

   Other

            The latest from David Rosenberg (medium and a must read):

            http://business.financialpost.com/2014/09/06/david-rosenberg-why-the-holy-grail-of-escape-velocity-still-eludes-the-global-economy/

            Tracking the decline in risk aversion (medium):

            http://scottgrannis.blogspot.com/2014/09/tracking-decline-in-risk-aversion.html

            The case for coming inflation (medium):

            http://www.ritholtz.com/blog/2014/09/seeds-of-u-s-inflation-are-sprouting/

Politics

  Domestic

The budget crisis could end one of two ways (medium):

http://www.realclearmarkets.com/articles/2014/09/09/the_budget_crisis_could_end_in_one_of_two_ways_101266.html

Wednesday morning humor---11 ways to know that you live in a country run by idiots.

http://www.zerohedge.com/news/2014-09-09/11-ways-you-know-you-live-country-run-idiots

  International

            Here is the preliminary report from the Dutch Safety Board on the downing of MH17 over Ukraine (medium):

            http://www.zerohedge.com/news/2014-09-09/mh17-was-struck-multiple-high-energy-objects-outside-aircraft-crash-report-reveals