Good morning.The US retail sector is sort of the Nikkei of US sectors…

http://www.bespokeinvest.com/thinkbig/2014/2/4/a-rough-start-for-retail.html

Interesting piece by the Fed on the use and misuse of the employment-population ratio

http://libertystreeteconomics.newyorkfed.org/2014/02/a-mis-leading-labor-market-indicator.html

Some more on UK vs US, labour productivity and robotics by Martin Wolf…

http://www.ft.com/intl/cms/s/0/e1046e2e-8aae-11e3-9465-00144feab7de.html

…and here is a podcast by one of the authors of the book mentioned by Wolf
http://www.econtalk.org/archives/2014/02/brynjolfsson_on.html

CBO expects US budget to drop below 3%: finally they can join the euro!
http://www.businessinsider.com/cbo-deficit-report-2014-2

And from the same source comes this one. Probably needs some explanation…

http://www.ritholtz.com/blog/2014/02/why-dosnt-u-s-take-advantage-of-low-rates/

S&P500 ≠ Nominal GDP

http://www.businessinsider.com/sp-revenues-vs-nominal-gdp-2014-2

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