News
CNN Money | Million-dollar foreclosures rise as rich walk away
Five years after the housing bubble burst, America's wealthiest families are now losing their homes to foreclosure at a faster rate than the rest of the country -- and many of them are doing so voluntarily.
Bloomberg | Euro-Region Economy Poised to Shrink in 2012 as Italy Contracts With Spain
Europe’s economy will shrink in 2012, with Italy and Spain facing sudden crunches as they battle to escape the debt crisis, the European Commission said.
FOX Business | Taxpayers Foot Legal Bills for Fannie and Freddie Execs
It’s a really bad deal for taxpayers that a federal watchdog is suggesting that the government only “limit,” but not stop, the exorbitant legal fees that Fannie Mae and Freddie Mac are now paying on behalf of former executives who are accused of either securities or accounting fraud, and who drove these companies into the ground.
CNN Money | Home prices at lowest point in more than 10 years
Home prices fell to their lowest point in more than a decade in January, which helped to lift the pace of home sales, according to a report from an industry trade group.
Bloomberg | S&P 500 Gets 9% Cheaper on Record Profits
Profits in the Standard & Poor’s 500 Index are rising faster than its price, leaving the gauge 9 percent cheaper than it was in April even after American equities climbed within 6 points of last year’s peak.
Econ Comments & Analysis
NBER | The Housing Market(s) of San Diego
This paper uses an assignment model to understand the cross section of house prices within a metro area.
CBO | Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2011 Through December 2011
The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the United States.
Washington Times | The government drag on growth
Europe’s leaders on Tuesday decided to give another very expensive band-aid to Greece. The latest bailout will cost $170 billion and enable Greeks to borrow from one set of creditors to pay off another, while other private creditors agree to take a haircut.
CNN Money | How Congress is killing the recovery
Since the economy dropped off a cliff in 2008, members of Congress have not exactly been shy about casting blame for no-or-slow growth on a variety of bureaucrats, outside institutions and Wall Street power players.
WSJ | Jeremy Lin and America's 'New Exports'
The U.S. runs a huge trade surplus in tourism, tuition paid by foreign students, even NBA jerseys sold abroad.
Real Clear Markets | A Highly Unjust Mortgage Settlement
It's a tale of political extortion Hollywood couldn't write and one your neighborhood association wouldn't believe
WSJ | Obama's Virtual Economy
If you were a president who for three years presided over an economy with more than 13 million unemployed, a growth rate gasping around 2%, an historic credit downgrade and underwater home mortgages drifting like icebergs toward the American Titanic, what would you do?
Blogs
Heritage Foundation | Red Tape and the Onerous Effects of Overregulation
High taxes draw a lot of attention, and rightly so. They depress investment and discourage innovation. But escalating regulatory costs also undermine our economy. And small businesses, which fuel so much economic growth and hire so many people, often wind up particularly hard-hit by them.
Neighborhood Effects | Why Favor Manufacturing?
President Obama’s former economic advisor, Christina Romer, recently parted with her former boss and questioned the wisdom of favoring manufacturers. In doing so she joined a venerable American tradition in opposing inequitable taxation. It would be nice if more Americans joined her.
Economist | Borrowing in Asia
Cross-border bank lending to Asia’s developing economies has been shrinking recently. European banks in particular have been retrenching as they seek to meet new capital targets.
