6/16/08

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.) Earmarks make a come back:

http://www.washingtonpost.com/wp-dyn/content/article/2008/06/12/AR2008061204282.html

The price of oil, money supply and inflation:

http://mjperry.blogspot.com/2008/06/oil-shocks-are-not-necessarily.html

Comparing the inflation of 1970’s with today’s:

http://mjperry.blogspot.com/2008/06/why-today-is-different-from.html

The Fed and ‘Bubbles’:

http://www.nytimes.com/2008/06/15/business/15view.html?ex=1371182400&en=3651ad1dae5b77eb&ei=5124&partner=permalink&exprod=permalink

Some good news on prices:

http://mjperry.blogspot.com/2008/06/new-real-car-prices-fell-by-2500-from.html

Politics

Domestic

A comparison of the Obama and McCain tax plans:

http://taxprof.typepad.com/taxprof_blog/2008/06/comparison-of-t.html

Obama’s new social security tax plan:

http://www.usnews.com/blogs/capital-commerce/2008/6/13/obama-plans-a-massive-hike-in-social-security-taxes.html

On the recent Supreme Court Boumediene decision:

http://article.nationalreview.com/?q=ZGEwMTY5YTU3NGRiOWUyMzkxZTU3MDE1ZWUwMDYxOTM=

International War Against Radical Islam

More under the title ‘so you think the Saudi’s are our friends?’:

http://michellemalkin.com/2008/06/13/remember-that-saudi-academy-in-fairfax-va-yeah-their-1999-valedictorian-joined-al-qaeda/

The Market

Technical

Bearish sentiment back at a high:

http://bespokeinvest.typepad.com/bespoke/2008/06/aaii-bearish-re.html

A chart on the ‘Presidential election cycle’ of stock prices:

http://seekingalpha.com/article/81469-the-presidential-election-cycle-theory-is-it-accurate

Fundamental

CNBC Million Dollar Portfolio Challenge

Portfolio 1 (86.6%): Sold: none

Bought: none

Positions: Automatic Data Products, 3M, Nucor,

Canon

Portfolio 2 (88.3%): Sold: none

Bought: none

Positions: Franklin Resources, Graco, Nokia,

Best Buy

Portfolio 3 (91.9%): Sold: none

Bought: none

Positions: Nucor, Ross Stores. ConocoPhillips, Federated Investors

Portfolio 4 (81.8%): Sold: none

Bought: none

Positions: Donaldson, Blackrock, Peabody Energy, Walgreen

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