News
CNN: Money | Oil stabilizes after 'gut reaction' to bin Laden death
Oil prices erased early losses Monday, as the knee-jerk optimism triggered by Osama bin Laden's death began to fade.
Bloomberg | Europe Manufacturing Growth Accelerates More Than Estimated
A gauge of manufacturing in the 17-nation euro area rose to 58 from 57.5 in March, London-based Markit Economics said in an e-mailed report today. That’s above an initial estimate of 57.7 on April 19. A reading above 50 indicates growth.
CNN: Money | Gold at record highs! Dollar at 3-year lows! Don't panic
"The Fed has made it crystal clear that it is not going to do anything to stop the dollar from falling," said Kathy Lien, director of currency research at Global Forex Trading, adding that central bank's unwavering message gives investors the green light to keep adding high-yielding assets to their portfolio.
CNN: Money | Hands off my federal benefits!
A new rule issued by the Treasury Department and a group of other federal agencies takes effect Monday and aims to protect struggling retirees and others who depend on government payments from losing a crucial source of income.
Fox News | Economic developments around the globe
A look at economic developments and activity in major stock markets around the world Friday:
Politico | Exports can drive U.S. recovery
World Trade Month, which begins today, comes at a unique time. The middle class is expanding around the globe — with more than 1 billion new consumers expected over the next 15 years. More than 80 percent of this growth in consumption is predicted to be outside North America and Europe. This is a clear call for our administration to help U.S. companies leverage these opportunities.
Econ Comments
PBS | The Budget Battle: WWHD? (What Would Hayek Do?) AK? (And Keynes?)
Cut taxes? Hike them? Cut government? Save the safety net? These economic questions are dominating debate in DC. So we thought we'd consult two of the greatest economists of all time: What would YOU do about today's budget deficit?
WSJ | Private Accounts Can Save Social Security
With just a 3% payroll deduction, a 67-year-old retiree who earned $50,000 a year could double his current Social Security benefit.
Investors | Chile's Private Social Security System Turns 30
May Day — socialists' paean to class warfare — evokes memories of Soviet tanks in Red Square and leftist radicals rioting. But Chile celebrates the actual empowerment of workers.
Blogs
Think Markets | George Soros, F.A. Hayek, and The Constitution of Liberty
I think George Soros is a good man. To me he seems like a person who wants to make the world a better place. He, like Keynes, is against comprehensive economic planning (ambiguities about “planning” noted) but thinks that financial markets are inherently unstable and thus must be regulated by a nimble or flexible regulator.
NRO: The Corner | More Data on the Spending Multiplier
There’s a growing amount of evidence that the spending multiplier is much smaller than stimulus advocates have argued.
Reason Foundation | Anemic and Irratic Growth Is Indictment of Obama Economic Policy
The U.S. Department of Commerce released growth estimates for the First Quarter 2011 and they aren't encouraging. The economy grew at a paltry 1.8 percent, down significantly from Fourth Quarter 2010 estimates. All in all, the estimates are an indictment of the interventionist and manipulative turn economic policy has taken under the Obama Administration.
Reports
RCM: Wells Fargo | Weekly Economic & Financial Commentary
After much anticipation, Fed Chairman Ben Bernanke at last held his press conference with select print journalists this week. As expected, the mostly prepared remarks contained no new information, but did provide more clarity on the Fed’s economic outlook, inflation and inflation expectations and the expiration of the large-scale asset program, commonly known as QE2.
