12/17/07

Economics

fiscal profligacy (Government spending as a percent of GDP is too high and the looming explosion in entitlement expenditures will make it worse. There is no good solution save spending discipline.). File this under: W, better late than never:

http://www.humanevents.com/article.php?id=23968

On the other hand:

http://www.realclearpolitics.com/articles/2007/12/a_republican_retreat.html

a rising tax and regulatory burden (Government has never proven that it could solve economic problems efficiently or satisfactorily.) New legislation to curb the continuing education of judges:

http://www.opinionjournal.com/diary/

George Will on the government’s sub prime mortgage fix:

http://jewishworldreview.com/cols/will121607.php3

Politics

Domestic

International War Against Radical Islam

The Market

Technical

Fundamental

The Dividend Growth Buy List

Company Close 12/14 Buy Value Range

Johnson & Johnson $67.59 $60-69

Abbott Labs 57.51 51-59

Illinois Tool Works 55.90 53-61

MDU Resources 26.53 25-29

Canon 48.32 47-54

3M 85.91 81-92

Eli Lilly 53.71 49-56

Graco 38.06 37-41

Commerce Bancshares 43.25 43-48

Paychex 38.36 38-42

Sysco 31.56 30-33

Linear Technology 30.91 29-32

Marathon Oil 58.32 56-62

Automatic Data Processing 44.04 44-49

VF Corp 70.22 69-79

General Electric 36.91 35-39

Fortune Brands 74.81 69-79

News on Stocks in Our Portfolios

More Cash in Investors’ Hands

Ingersoll Rand is buying Trane for $10 billion, 76% of which is in cash.

National Oil Well Varco is buying Grand Prideco for $7.5 billion, 50% of which is in cash.

Safeco announced a $500 million share buy back.