News
Fox News | A look at economic developments around the globe
A look at economic developments and activity in major stock markets around the world Monday:
CNN: Money | The 53%: We are NOT Occupy Wall Street
They call themselves the 53%...as in the 53% of Americans who pay federal income taxes. And they are making their voices heard.
USA Today | Economists warn housing prices will lose more ground
U.S. home prices were largely flat in August from a month earlier and down almost 4% from a year ago, with more declines ahead, economists say.
Washington Times | Survey: Home prices up in half of major U.S. cities
Home prices rose in August in half of major cities measured by a private survey, a sign that prices are stabilizing in some hard-hit portions of the country.
CNN: Money | Why you should be worried about Europe
If Europe were to be shaken by a series of nations defaulting on their government debt, I am convinced that the continent would plunge into a severe recession.
Econ Comments
WSJ | How the Euro Zone Can Restore Confidence
Investors are looking for a home for trillions in idle Federal Reserve-generated dollars, and a little reform in Europe might attract them.
Washington Times | MILLER: Giving business a break
Repealing IRS 3 percent tax-withholding rule is a step in the right direction.
AEI: American | The Dismal New Science of Stagnationism
If the future is behind schedule, it may be because the world’s major financial institutions and venture capitalists have not been backing the right ideas.
WSJ | Natural Gas Can Put Americans Back to Work
The natural gas and oil industry already sustains 2.2 million jobs and can add 1.5 million new ones.
Minyanvilee | How European Contagion Could Bring Down the US Treasury Market
Someday, perhaps within a matter of months but more likely in a year or two, the US Treasury market will fall apart as certainly as Greece's did. Here's how that might happen.
Washington Times | LAMBRO: Obama’s housing horrors
Dropping loan requirements risks second market crash.
Blogs
WSJ: Real Time Economcis | Income Growth of Top 1% Over 30 Years Outpaced Rest of U.S.
The wealthiest Americans saw their income nearly triple in the three decades to 2007, substantially more than all other segments of the population, the Congressional Budget Office said Tuesday.
Atlantic: Megan McArdle | Why the Government is Not Going to Force Banks to Write Down Your Mortgage Principal
There is not going to be broad-based mortgage equity relief, because your neighbors do not want to pay $750 billion to relieve you of that burden. HARP isn't a panacea, but it will actually do some limited good, which is probably about all we can expect.
WSJ: Real Time Economcis | ‘Complexity’ Predicts Nations’ Future Growth
Economists at Harvard University and Massachusetts Institute of Technology have just released what they claim to be the crystal ball of economics: a model for predicting a nation’s future growth more accurately than any other techniques out there.
WSJ: Real Time Economcis | Confidence Falls Most Among High-Income Consumers
U.S. consumers unexpectedly caught a case of the economic willies in October. Their list of woes is growing from jobs to incomes to the stock market.
AEI: American | Paul Ryan declares war on Obama’s class-warfare campaign
In a high-voltage speech tomorrow at the Heritage Foundation, House Budget Chairman Paul Ryan will tear into President Barack Obama’s recent push to raise taxes on wealthier Americans—including entrepreneurs and small business—to pay for more government spending. It’s what a Ryan aide calls “the politics of division, pitting Americans against each other, preying on the emotions of fear and envy.”
Atlantic: Megan McArdle | More on Interchange Fees
Let me see if I can hit the main points on interchange:
Daily Capitalist | To OWS: You Get Yours, Don’t Worry About Mine
Why should anyone care how much money the founders of Google, Apple, or Microsoft made? Some might object that they earned a larger share of income, but in what sense can we regard their income as shared?
