News
CNBC | New Foreclosure Wave is Coming
As banks resubmit millions of documents and courts begin hearing cases again, the backlog of over four million delinquent loans will start surging through the pipeline again.
Bloomberg | Bank Failures Cost $88 Billion
More than 400 such failures since 2007 have cost the fund, which is fed by banks and backstopped by taxpayers, an estimated $88 billion. That volume shows the need for more transparency in bank regulation, which is largely conducted in the dark.
Bloomberg | Swiss Join Suffering as Europe Crisis Ripples
The economy will expand 0.2 percent next year and 1.9 percent in 2013, the Zurich-based institute said in a statement today, cutting previous projections.
CNN: Money | Fitch downgrades world's largest banks
The ratings firm Fitch downgraded a cluster of the world's largest banks Thursday, pointing to trading challenges facing international markets.
Econ Comments
WSJ | High-Speed Railroad Job
In 2008 voters approved a $10 billion bond to fund the 500-mile bullet train, but cost estimates have since exploded to $100 billion from $33 billion and the mirage of federal government and private funding has disappeared.
Daily Caller | The inequality myth
Today, many people are more sensitive than ever to inequalities of any size. So the president thinks he can claw back some of the middle and working classes by promising to lift up the wretched at the expense of the wealthy.
Blogs
Econlog | How Food Stamps Increase Measured Poverty
So food stamps, Medicaid, Medicare, and subsidized housing, a substantial part of the welfare state, don't count in measuring people's income. And those items, especially food stamps, are a particularly large part of the poor people's income.
AEI: The American | When free trade isn’t free
The WTO is set to offer membership to Russia, and the Russians are largely expected to accept and approve the bid by early 2012, thus ending an 18-year struggle to join the ranks of free trade nations. Under the terms agreed to by Russia, tariffs will drop by about 22 percent for most Asian and European nations.
Cato @ Liberty | WTO Remains a Force for Good
Trade ministers from more than 150 countries are gathering today in Geneva, Switzerland, for a three-day ministerial meeting of the World Trade Organization.
ThinkMarkets | Hayek on the Large Corporation
Most obviously, it is a form with limited liability and special tax treatment, among other things. So the growth of corporate entities is not independent of its specific legislated form.
Daily Capitalist | Bernanke’s Legacy
You know when they start talking about a politician’s legacy that he is toast. I think that’s what happens when you think you can run the economy and fail.
Minyanville | Three Ways to Fix Europe Without Europe's Help
Lowered volatility would ease global financial stress -- and we can make it happen without the Europeans.
