News
CNN Money | General Motors: First profit since 2004
General Motors on Thursday reported its first annual profit since 2004, capping an impressive turnaround by the once-troubled automaker.
WSJ | U.S. Pushes Mortgage Deal
Obama Proposal Seeks Multibillion-Dollar Settlement of Loan-Servicing Cases
CNN Money | Sales of new homes fall a shocking 11.2%
The new year has brought little cheer to new-home builders: Their sales fell a shocking 11.2% between December and January and 18.6% from 12 months earlier.
CNN Money | Social Security is safe in a federal shutdown
What happens to Social Security if the government shuts down?
Fox News | Durable goods orders excluding airplanes drop
Orders for long-lasting manufactured goods outside of transportation fell in January by the largest amount in two years.
CNN Money | Foreclosures make up 26% of home sales
Home prices are down but sales are up, somewhat contradictory trends.
The Economist | Oil pressure rising
Oil markets don’t like surprises.
WSJ | Irish Remedy for Hard Times: Leaving
The people of Ireland go to the polls Friday to deliver what's expected to be a knock-out blow to the governing party. But many are choosing to vote in a traditional Irish fashion: with their feet. Tens of thousands are joining in a new wave of emigration, turning their backs on a country mired in economic malaise.
Econ Comments Cato Institute | The Myth of Corporate Cash Hoarding
American nonfinancial corporations were "sitting on" $1.93 trillion in liquid assets at the end of last year's third quarter, according to the Federal Reserve Board. This has become one of the most frequently echoed statistics, viewed as indisputable evidence that U.S. business leaders are unduly timid or evil.
WSJ | Why Regulators Should Let Banks Foreclose
Data show that brief additional time-outs don't allow borrowers to become current.
Real Clear Markets | With Unions, Follow the Money
Missing in action, walking off the job. That's the new style for Democratic state legislators, first in Wisconsin, then in Indiana. They have fled to Illinois, rather than provide the quorum necessary for votes on legislation sponsored by Republican majorities to curtail public-employee benefits and union activity.
WSJ | The Public Worker Gravy Train
Many government employees are paid up to 30% more than those in the private sector.
Blogs
Heritage Foundation | 10 Things You Need to Know About High Gas Prices and Obama’s Oil Policy
This week the media’s attention is finally focused on oil prices. After two years of continually rising consumer gas prices in America, the oil futures market has captivated the Mideast storyline. And attention is much needed.
Cato@Liberty | Despite Huawei’s Experience, America Is Open to Chinese Investment
Despite the sour grapes expressed by Huawei and its patron, the Chinese Ministry of Commerce, the United States is open and ready to welcome Chinese investment
The Economist: Democracy in America | Barriers to trade back in the day
This isn't to say that it's a good idea to ratchet up levels of protectionism when, as now, overall barriers to trade are low and declining. But when everyone's doing it, it's probably true that the people who do it more effectively are benefiting from it.
Time: Curious Capitalist | Will $100 Oil Kill the Recovery?
Oil climb has traders and others saying oh-no.
Carpe Diem | As a Share of Income, Americans Have the Most Affordable Food in World & It's Never Been Better
As much as Americans might complain about rising food prices in the U.S. (even though annual CPI food inflation hasn't been above 2% for almost two years), we've got the most affordable food on the planet as a share of income
