News
CNN: Money | Italian bond yields exceed 7%
Italian 10-year bond yields exceeded 7% on Wednesday, a record high and a critical psychological benchmark that represents the need for a bailout.
WSJ | U.K. Goods Trade Deficit Hits Record
The U.K.'s goods trade deficit widened to a record level in September, official statistics showed Wednesday, as a modest rise in exports was more than offset by record imports of goods including chemicals, silver and works of art.
CNN: Money | A slow, slow return to growth
After a spate of speed bumps this year, the U.S. economy is starting to pick up the pace -- but the 2.5% growth forecast for 2012 still seems sluggish to most Americans, a U.S. Chamber of Commerce economist said Tuesday.
Washington Times | Beijing ups R&D competition with U.S.
Stepping up its long-running struggle with the United States over access to technology, China this year embarked on a campaign to target advanced industries such as aerospace, medicine and information technology for its next stage of development.
CNN: Money | OPEC ups oil demand forecast
OPEC now expects demand for oil to grow even more than it projected just a year ago, as the oil cartel said the recovery from the Great Recession took place faster than it expected.
USA Today | Foreclosure backlogs could take decades to clear out
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
WSJ | Global Liquidity 'on the Cusp' of Drying Up
Bank of Canada Governor Mark Carney said Tuesday that global liquidity is about to dry up again as the European banking system deleverages, and warned that the real economy will soon feel the impact.
Econ Comments
Washington Times | CARLUCCI & HAMILTON & RIDGE: America at a global crossroads
Cutting diplomacy would be foolish policy in time of turmoil.
Washington Times | LAMBRO: Bill lectures Barack on growth
New Clinton book criticizes Obama’s failed economic plan.
WSJ | Europe's Entitlement Reckoning
From Greece to Italy to France, the welfare state is in crisis.
Washington Times | LUGAR & STUTZMAN: Reform farm programs and harvest savings
It’s time to stop subsidizing farmers even when they’re profitable.
Bloomberg | Orszag: Winds of Change Blow Away College Degree
Many parents in the U.S. are legitimately concerned about the prospects for their college-age children. After all, today’s students face three overlapping challenges: a long-term structural shift as the world’s effective labor supply expands; rising tuition and growing concerns about the quality of public higher education; and the misfortune of graduating into a weak labor market.
Market Watch | The great $26 billion real estate swindle
Call it whatever you want. But as foreclosures surge again and house prices continue to slide, new data out Monday reveals more of the grim verdict on the $26 billion federal program in 2009 and 2010 to offer tax credits to home buyers.
Fox Business | Volcker: Volcker Rule Too Complicated
"It's much more complicated than I would like to see," said Paul Volcker during a university talk in Singapore on Wednesday. The Volcker rule is meant to prevent American banks from making big bets on markets with their own money or from backing private equity and hedge funds.
Blogs
Free Banking | Talking points for the Keynes-Hayek Debate
Here is the prepared version of my opening statement for the Keynes-Hayek debate sponsored by Reuters that was held in New York City tonight.
Daily Capitalist | How to Fix the Housing Crisis
The foreclosure crisis has crawled on for going on four years now with no end in sight. The S&P/Case-Shiller index for August fell 3.8 percent from a year ago. The index includes home prices for 20 US cities.
Reports
Heritage Foundation | Obama’s Red Tape: Tsunami or Ripple?
Are regulations being produced by the Obama Administration at a significantly faster rate than under previous administrations? Not at all, say White House officials, arguing that the growing spool of red tape from Washington is just business as usual.
