Morning Journal--Iran caught cheating again

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 1.5% versus the prior week but up 2.9% on a year over year basis: Redbook Research reported month to date retail chain store sales up 3.9% versus the comparable period last year.

            October wholesale inventories rose 0.4% versus estimates of +0.2%; sales increased only 0.2%.

            Weekly mortgage applications were up 7.3%, while purchase applications advanced 1.0%.

   Other

Politics

  Domestic

Fannie and Freddie approve 3% down mortgages (short):

http://www.zerohedge.com/news/2014-12-09/if-first-you-fail-miserably-blow-financial-system-do-it-again

Obama’s $1.7 million one night stand (short):

http://www.zerohedge.com/news/2014-12-09/obamas-one-night-stay-brisbane-g-20-cost-taxpayers-17-million

A summary of the senate ‘torture’ report (medium):

http://www.zerohedge.com/news/2014-12-09/we-tortured-some-folks-cia-lied-congress-senate-torture-report-reveals

  International War Against Radical Islam

            Iran caught cheating, again (short):

            http://www.powerlineblog.com/archives/2014/12/iran-caught-cheating.php