News
Market Watch | US. 10-year yields rise to 3-month high
Treasury prices fell on Thursday, pushing 10-year yields to their highest since early August, after Europe’s plan to deal with its sovereign-debt crisis relieved global investors and led them towards riskier assets.
CNN: Money | GDP report: Growth nearly doubles
Gross domestic product, the broadest measure of U.S. economic health, grew at a 2.5% annual rate in the quarter after adjusting for inflation. That's up from the disappointing 1.3% growth in the second quarter and the anemic 0.4% pace in the first three months of the year.
Econ Comments
NY Post | How class warfare weakens America
Telling Americans they are stuck in their current station in life, that they are victims of circumstances beyond their control, and that government’s role is to help them cope with it -- well, that’s not who we are.
WSJ | The Mortgage Crisis: Some Inside Views
Emails show that risk managers at Freddie Mac warned about lower underwriting standards—in vain, and with lessons for today.
AEI: American | Macro vs. Growth
Why isn’t there a rebirth of American entrepreneurship, especially when starting a firm is easier than ever?
Washington Times | EDITORIAL: Out-of-control college tuition
Presidential fiat will only make earning a degree more expensive.
WSJ | Remedial Economics
The 'Occupy' folks learn the limits of wealth redistribution.
AEI | Housing Affordability: US Is the Envy of the Developed World
The United States as a whole is affordable with an average score of 3.0. As the nearby chart indicates, this places the U.S. at the head of the affordability class among seven ranked countries, with the other six ranging from moderately unaffordable to severely unaffordable.
Blogs
Greg Mankiw's Blog | The Rich Get Poorer
Here is a fact that you might not have heard from the Occupy Wall Street crowd: The incomes at the top of the income distribution have fallen substantially over the past few years.
Political Calculations | The Real Story Behind "Rising" U.S. Income Inequality
Why is income inequality rising for U.S. families and households, but not for individual Americans?
AEI: American | 7 reasons why Obama is wrong on income inequality
No argument there. Looking forward, America will need a pro-growth tax system, smarter regulation and far better human capital. That way, incomes won’t just be more equal, they’ll be growing.
WSJ: Real Time Economics | Companies Less Certain, Spending More
U.S. businesses are unsure where the economy is headed, but that has not stopped them from going ahead with capital spending projects. The dichotomy echoes consumer behavior, which finds consumers feeling pessimistic but still shopping.
Café Hayek | I don’t understand aggregate demand
Does an increase in aggregate demand increase employment?
Reports
Cato Institute | How Much Ivory Does This Tower Need? What We Spend on, and Get from, Higher Education
Taxpayer support for postsecondary education has long been in decline, this narrative goes, and has forced schools to continually raise tuition to make up for the losses.
