News
Bloomberg | China, Japan Say Europe Must Fix Own Debt Crisis, No ‘Blank Check’ for Aid
Officials from China and Japan, the world’s second- and third-biggest economies, indicated that their support for Europe will have limits and the region needs to solve its own debt crisis.
CNN: Money | Global economy alarm bells ring
The latest monthly readings released Thursday on manufacturing in the eurozone, the U.K. and China all were weaker than they had been, as was a report on the service sector in Europe.
Bloomberg | World’s Financial System Risks Repeat of 2008 Credit Crisis, O’Neill Says
More than $3.4 trillion has been erased from equity values this week, driving global stocks into a bear market, as the Federal Reserve’s new stimulus and a pledge by Group of 20 nations fails to ease concern the global economy is on the brink of another recession.
CNN: Money | Poverty pervades the suburbs
A record 15.4 million suburban residents lived below the poverty line last year, up 11.5% from the year before, according to a Brookings Institution analysis of Census data released Thursday. That's one-third of the nation's poor.
Fox News | First-Time Owners Stuck in Their Homes
The housing decline that started in 2008 is having a profound impact on families across the country. Many who are in their first homes are stuck causing them to delay starting families or even moving for job opportunities.
Politico | Trade deal can't wait
The most important issue now pending between the governments of the Republic of Korea and the United States is to ratify and implement the South Korea-U.S. Free Trade Agreement without further delay.
WSJ | Economic Signals Heighten Worries of a Double-Dip
The risk remains that another shock—such as deeper turmoil in the European banking sector—could be one too many for the world economy.
Econ Comments
Washington Times | STANEK: Ponzi on the Potomac
Renowned economists agree: Social Security is a scam.
Daily Caller | Is this the beginning of a double-dip recession?
The Fed should have listened to the GOP congressional leadership, which in a letter advocated no more stimulus and no more market-subverting interference.
Politico | Agencies stiffing small-businesses
This apparent disinterest in helping small businesses is unacceptable, and the agencies that refuse to adhere to the Small Business Act will be held accountable.
Blogs
AEI: American | Is Competitiveness Worth Defending?
In the State of the Union address this year, President Obama called for a “competitiveness initiative.” He has his own Council on Jobs and Competitiveness, and earlier this week the White House released the president’s “American Jobs Act” and suggested the plan would help America compete: “The president’s plan will put Americans back to work in key areas that are central to America’s future competitiveness.”
AEI: American | How Do You Know When Government Has Gotten Too Big?
One reason for the D.C. area’s ranking, I’ve argued, is that federal salaries are likely to be excessive. Are federal employees more educated and experienced than the average private sector worker?
Reports
RCM: Wells Fargo | Investors Boost Existing Home Sales in August
Sales of existing homes increased 7.7 percent in August to an annualized rate of 5.03 million units. Single-family sales accounted for most of the gain as all four regions of the country reported increased sales activity.
