News
RealClearPolitics | Obama: "More Money" Is Needed For Education Reform
"People started to realize what is needed is not either, or -- not either more money or more reform, it's both and. Both more money and more reform," President Obama said at a technology school in Boston on Tuesday.
CNBC | Welfare State: Handouts Make Up One-Third of U.S. Wages
Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.
ABC News | An Oil Price of $140 a Barrel Could Lead to a Recession and 'Demand Destruction'
$140 a Barrel Could Cause Recession in Advanced Economies, Says Leading Economist
CSM | Gas prices soar past $3.50 per gallon: Are Middle Eastern uprisings to blame?
Gas prices have been only modestly affected by fighting in Libya, but a 'fear factor' is driving up oil futures, which in turn drive gas prices.
WSJ | Senate Passes Patent System Overhaul
The Senate overwhelmingly passed legislation Tuesday to overhaul the U.S. patent system, reviving a long-stalled effort and raising industry hopes that the biggest changes to patent laws in almost six decades could soon be enacted.
Fox Business | January Wholesale Inventories Rise
Wholesale inventories rose more than expected in January and sales set their fastest pace in 14 months, according to a government report on Wednesday that offered further signs of strengthening demand.
Bloomberg | Foreclosure Aid on Chopping Block as Democratic Support Fades
U.S. House Republicans prepared to vote on whether to eliminate the Obama administration’s signature anti-foreclosure effort as support for the program also eroded among Democrats.
Fox Business | Rising Trade Deficit Slows Recovery, Jobs Creation
On Thursday analysts expect the Commerce Department to report the deficit on international trade in goods and services was $41.0 billion in January, up from $40.6 billion in December and $27 billion in mid 2009, when the recovery began.
Econ Comments
Bloomberg | What a Waste Trying to Find Government Waste: Caroline Baum
Everyone who wants to eliminate waste, fraud and abuse in government, raise your hand.
NRO | Zandinomics
McCain's pet Democrat is peddling a free lunch with a free dessert.
Fortune | How cheap houses spell bad news
Houses look more affordable than ever. But prices will have to fall further before many Americans can actually afford to buy one.
AEI | Why NPR Should Urge Congress to End Its Subsidy
The case for government support of public broadcasting is far weaker than it was in the 1960s and 1970s
Reason | The State Pension Time Bomb
Poor accounting rules and flagrant irresponsibility have sped up the states’ day of reckoning.
Blogs
NYT: Room for Debate | Should Fannie and Freddie Go?
What are the consequences to ending all government support in the mortgage market?
Daily Capitalist | Commercial Real Estate Loan Liquidations Continue
It is too soon to determine if this is a moderating trend or not, but it is resolving a lot of debt that was malinvested during the boom. But $5 billion is not insignificant.
CSM: The Daily Reckoning | Time to invest in Japan?
Some financial experts say now is the time to buy and hold Japanese stocks.
Daily Capitalist | Housing Negative Equity Remains At Historic High
CoreLogic released it negative equity report for Q4 2010 today and it was not encouraging:
CSM: The Adam Smith Institute Blog | A new way to think about recessions?
Look at how specializations in business match up with demand.
EconLog | Economists' Ideological Blind Spots
Tyler Cowen makes up long lists of the blind spots of left-leaning economists and right-leaning economists. If I were asked this question, I would boil my answers down to one suggestion for each.
WSJ: Real Time Economics | Secondary Sources: Budgets, Labor Force, Mauritius, Blogs
A roundup of economic news from around the Web.
