News
Bloomberg | Home Prices Seen Dropping 10% in U.S. on Foreclosures: Mortgages
As many as 1.25 million of America’s least cared for homes are headed for auction after a year-long probe into foreclosure practices kept them off the market.
Market Watch | U.S. manufacturers pick up pace in March
American manufacturers expanded at a somewhat faster pace in March and most industries experienced growth, according to a closely followed survey.
WSJ | American Manufacturers Pick Up the Pace
Demand from U.S. consumers is keeping American factories humming—and also is helping offset softer demand affecting factories in other parts of the world.
NY Times | Longevity Up in U.S., but Education Creates Disparity, Study Says
Americans are living longer, but the gains in life span are accruing disproportionately among the better educated, according to a new report by researchers from the University of Wisconsin.
CNN Money | The new American household: 3 generations, 1 roof
As the economy continues to take a toll on consumers' finances, a growing number of people are discovering that becoming roommates with mom and dad, or a 20- or 30-something son or daughter, helps to ease some of the financial pain in tough times.
Bloomberg | U.S. Economy Enters Sweet Spot as China Slows
The U.S. once again may be emerging as a main engine for global growth -- and at an opportune time, as Europe slides into recession and China’s economy decelerates.
National Journal | EPA Delays Clean-Air Rules for Fracking
The Obama administration has delayed by two weeks the first-ever federal air standards for hydraulic fracturing, a controversial method of extracting shale natural gas that’s seen as essential to developing vast reserves recently discovered throughout the country.
Econ Comments & Analysis
WSJ | It's Better to Rent Than to Foreclose
Imagine that you (like six other homeowners on your block) are hopelessly behind on your mortgage payments. You can't sell the house; the market is glutted. Anyway, there's no point in trying because the mortgage balance exceeds the value of the dwelling.
Politico | Obama’s stimulus delayed recovery
But “financial crises” aren’t a valid explanation for the slow recovery. Unemployment actually recovered faster in countries hit by a “financial crisis” than in those that were in a recession for other reasons.
AEI | Living wages: still shackled in global supply chains
The debate over the abysmally low wages paid to workers in emerging economies illustrates the difficulty. There are two conflicting narratives, both tied to China.
NBER | Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates
This paper estimates the extent to which legal fees prevent liquidity-constrained households from declaring bankruptcy. To do so, it studies how the 2001 and 2008 tax rebates affected consumer bankruptcy filings.
WSJ | The Worst Economic Recovery in History
How many times have we heard that this was the worst recession since the Great Depression? That may be true—although the double-dip recession of the early 1980s was about comparable. Less publicized is that our current recovery pales in comparison with most other recoveries, including the one following the Great Depression.
Blogs
Economist | Room to grow
Americans owe European Central Bank head Mario Draghi a thank you for his efforts to prevent a euro-zone recession from translating into global economic trouble. America can survive a trade slowdown with Europe without too much trouble; financial contagion would be a different story.
WSJ | World-Wide Factory Activity, by Country
The U.S. was a strong spot among global manufacturers last month amid weakness in the euro zone and a mixed picture in China.
Political Calculations | Finalized: GDP Forecast for 2012Q1
Our accompanying chart shows what pure momentum mixed with some statistical analysis would project
