News
CNN: Money | Foreign firms invest big in U.S. energy boom
Foreign firms, hungry to cash in on the American energy boom, have invested nearly $6 billion in U.S. gas and oil drilling in the last few weeks.
Market Watch | U.S. retail sales rise scant 0.1% in December
Sales at U.S. retailers increased 0.1% in December, the government said Thursday, in a report that bucked expectations of stronger sales during the holiday period.
NY Times | Survey Finds Rising Perception of Class Tension
Conflict between rich and poor now eclipses racial strain and friction between immigrants and the native-born as the greatest source of tension in American society, according to a survey released Wednesday.
Market Watch | Foreclosure activity lowest since 2007
Foreclosure activity hit a 49-month low in December, with foreclosure filings at their lowest monthly level since November 2007, according to RealtyTrac’s monthly report.
CNN: Money | Can anyone save Fannie Mae and Freddie Mac?
Both agencies, which play key roles in helping to secure financing for homeowners, have continued to rack up sizeable financial losses over the past few years. It is estimated that their bailout will eventually cost taxpayers as much as $124 billion through 2014.
NY Times | Online Map Shows Biggest Greenhouse Gas Emitters
The Environmental Protection Agency for the first time is making available detailed information on sources of greenhouse gas emissions, from the Mount Sinai Hospital heating plant in Manhattan to the nation’s largest coal-burning power plant in Georgia.
Econ Comments and Analysis
RCM | How Fannie, Freddie and Politicians Caused the Crisis
Investors in GSE securities were led to believe that the vast majority of the loans backing these securities were low risk. Thanks to the SEC's investigation, the GSEs have, for the first time, acknowledged the magnitude of their efforts to mislead investors with regard the true nature of their exposure to subprime and Alt-A loans.
Forbes | Forget Systemic Risk, Let's Look For System Saving Events
With most of the risk management world squinting and scanning the horizon looking for systemic risk events, I’d like to take at least one contrarian moment to scan the horizon for system saving events (SSE).
AEI | Uncertainty is more dangerous than risk; error is more dangerous than fraud
Europe's banks and entire monetary system are in crisis from the sovereign debt of financially weak governments.But the capital requirement for banks to hold such Euro denominated debt was zero.
CRS | Housing Issues in the 112th Congress
This report provides a brief summary of major housing issues that are active in, or may be considered by, the 112th Congress. It does not provide comprehensive coverage of the issues or closely track active legislation, but it includes references to related CRS products that offer more detailed information and analysis.
WSJ | A Step Backward for Economic Freedom in 2012
Countries in North America and Europe led the global decline thanks to excessive government regulation and stimulus spending.
Blogs
WSJ: Real Time Economics | Economists in WSJ Survey Forecast Short Euro Zone Recession
The euro zone will most likely experience a short recession, but the common currency will be under pressure for years to come, according to economists surveyed by the Wall Street Journal.
Daily Capitalist | California Looking Greece-ier
Perhaps in keeping with its good government traditions, the brokest state in the Union the governors of which do not routinely go to jail issues monthly statements recording its fiscal ineptitude.
Mercatus Center | Genuine Economic Progress is about Higher Incomes AND Lower Prices
From the perspective of a worker, the point of a job is not simply to have a paycheck; it is to have a paycheck that permits one to buy useful goods and services.
Daily Capitalist | The Mobility Gap: What Does It Mean?
This subject merits attention because we should aspire to live in a society in which someone born in (relative) poverty can work his or her way up to better material circumstances, even if lower-income people are richer than their earlier counterparts.
