Monday, November 24, 2014

General Economics

News                                                                                                                             
Wall Street Journal | What Big Economies Got Right, or Wrong, After Crisis
The divergent policy paths taken by the world’s advanced economies provide lessons for global leaders navigating difficult post-crisis environments.
Market Watch | U.S., global business confidence slumps
U.S. and global business confidence slumped in the third quarter, according to a survey of business executives released Sunday.
Market Watch | U.S. economy on course for steady growth
The economy has zigged and zagged repeatedly since exiting recession in 2009, but now it finally appears to be charting a steady course forward.
Market Watch | Economic growth moderates in October, Chicago Fed national activity index shows
Economic growth moderated in October, according to the Chicago Fed national activity index released Monday.

Monetary

Econ Comments & Analysis                                                                                            
Market Watch | The Fed has boxed U.S. into a tough easy-money corner
Despite the Federal Reserve ending its purchases of Treasury bonds, U.S. monetary policy remains accommodative — and will be for a long time to come.

Employment

News                                                                                                                             
Market Watch | North Dakota, Utah, Texas lead U.S. job growth
The fastest-growing U.S. job markets are in North Dakota, Utah and Texas, with each of these states recently posting annual gains reaching above 3%, according to government data released Friday.

Econ Comments & Analysis                                                                                            
Wall Street Journal | The President Is Right on Immigration
President Obama announced Thursday a temporary reprieve from deportation, and offered temporary permission to work, for several million undocumented longtime residents with close family members in the U.S. The executive order, he said, was not an amnesty and federal authorities would focus on deporting “felons, not families. Criminals, not children. Gang members, not a mom who’s working hard to provide for her kids.”
Forbes | Manufacturing Jobs Just Aren't Good Middle Class Jobs Any More
I have to admit that as an outsider looking in I’ve never really quite grasped this American near mythologisation of manufacturing jobs.
AEI | An amazing chart of an amazing job-creating state; we owe a debt of gratitude to ‘Saudi Texas’ and the shale boom
The chart above shows a most amazing economic phenomenon: Since December 2007 when the Great Recession started, Texas civilian employment has increased by 12.4% and by more than 1.36 million jobs, from just over 11 million jobs in December 2007 to 12.37 million in October of this year (see blue line in chart).

Friday, November 21, 2014

General Economics

News                                                                                                                             
Market Watch | Consumer prices flat in October as gas tumbles
Plunging gasoline prices offset increases in housing, medical care and airline fares to keep the cost of living for U.S. consumers unchanged in October.
CNN Money | America's part-time economy
The West Coast isn't a dreamy place for many workers. Millions of Americans are languishing there in part-time jobs with no other options.

Econ Comments & Analysis                                                                                            
Wall Street Journal | How the ‘Reserve’ Dollar Harms America
For more than three decades we have called attention on this page to what we called the “reserve-currency curse.” Since some politicians and economists have recently insisted that the dollar’s official role as the world’s reserve currency is instead a great blessing, it is time to revisit the issue.

Health Care

News                                                                                                                             
CNN Money | Big jump in Medicaid spending after Obamacare
Spending on the health insurance program for the poor is projected to hit $460.5 billion, according to a new report by the National Association of State Budget Officers. This will make it the largest state expenditure at 26%, beating out education, transportation and corrections.

Monetary

News                                                                                                                             
Market Watch | Fed’s Bullard says central bank ‘boxed in’ to June hike
Broad expectations the Federal Reserve will start raising short-term interest rates next summer are being driven not so much by economic considerations as they are by quirks in how the U.S. central bank conducts its policy meetings, and that’s a bad thing, a top Fed official said Thursday.
CNN Money | The Fed is worried about the stock market
The Federal Reserve is not supposed to care about the stock market. It only has two official mandates: make sure enough Americans are working and ensure prices of consumer goods stay relatively stable.

Econ Comments & Analysis                                                                                            
Market Watch | The man who called the last stock crash is already blaming the Fed for the next
This time around, Peter Schiff, the chief executive officer of Euro Pacific Capital who memorably predicted the collapse of the housing market in 2008 and the global financial crisis of 2010, is speaking out against the Federal Reserve, which, he claims, has inflated the prices of stocks and bonds with its ultraloose, unconventional monetary policies.