News
CNN Money | Fannie, Freddie regulator still resists principal reduction
Allowing Fannie Mae and Freddie Mac to offer principal reductions may save money thanks to enhanced government incentives, a preliminary analysis released Tuesday shows.
Market Watch | Why gas is more expensive in China than in U.S.
Chen Weidong works at China National Offshore Oil Corporation. When he bought a compact car in 2004, it cost 180 yuan ($28.6) to fill up. Now he pays 400 yuan.
CNN Money | U.S., China, Japan lead world in economic growth
The U.S., Japanese and Chinese economies have regained their momentum and are leading the world in growth, according to the latest report Tuesday from a global monitoring group.
Market Watch | A slowly healing housing market
Encouraging reports on the housing market are stirring up optimism about this year’s home buying and selling season.
CNN Money | Iran-fueled oil price spike biggest threat to economy
An oil price spike caused by a confrontation with Iran is now seen as the biggest threat to the U.S. economy.
Market Watch | U.S. import prices jump 1.3% in March
The prices paid for goods imported into the U.S. jumpd 1.3% in March, mainly because of higher oil costs, the Labor Department said Wednesday.
Econ Comments & Analysis
NBER | Small Cues Change Savings Choices
In randomized field experiments, we embedded one- to two-sentence anchoring, goal-setting, or savings threshold cues in emails to employees about their 401(k) savings plan. We find that anchors increase or decrease 401(k) contribution rates by up to 1.4% of income.
National Journal | DeMarco’s Principal Reduction Does More for Politicians than Homeowners
If Edward DeMarco’s announcement on Tuesday that he is considering principal reductions for a limited class of homeowners whose mortgages are held by Fannie Mae and Freddie Mac comes to fruition, it is likely to have only a modest impact on the beleaguered housing sector and the plight of underwater borrowers.
CATO | The American Welfare State: How We Spend Nearly $1 Trillion a Year Fighting Poverty--And Fail
On January 8, 1964, President Lyndon B. Johnson delivered a State of the Union address to Congress in which he declared an "unconditional war on poverty in America." At the time, the poverty rate in America was around 19 percent and falling rapidly. This year, it is reported that the poverty rate is expected to be roughly 15.1 percent and climbing.
Washington Times | Obama invokes ‘Buffett rule’ just to change the subject
What do you do when you’re losing a debate? Change the subject. That’s really all you need to know to understand President Obama’s resuscitation of his infamous “Buffett rule” that would impose a minimum 30 percent effective tax rate on businesses and families earning $1 million.
WSJ | The Volcker Rule Is Fatally Flawed
The fundamental question is whether we want banks to act as market intermediaries or not. If a case can be made that this is somehow dangerous or will lead to another financial crisis, then let's have someone make it.
Washington Times | Let business mind its own business
In his Wisconsin victory speech April 3, Mitt Romney said, “Washington has to become an ally of business, not the opposition of business.”
CRS | The Dominican Republic-Central America-United States Free Trade Agreement (CAFTA DR)
This permanent, comprehensive, and reciprocal trade agreement eliminates tariff and non-tariff barriers to two-way trade, building on unilateral trade preferences begun under the 1983 Caribbean Basin Initiative (CBI).
Blogs
Daily Capitalist | The Obama Plan To Increase Poverty
President Obama has kicked off his re-election campaign by appealing to his base on what he sees as wealth inequality being a cause of our economic malaise.
Forex Live | New KC Fed president calls for end to “too-big-to-fail”
Esther George is the new head of the Kansas City Fed, replacing the uber-hawk, Tom Hoenig. She takes on systemic risk in her comments this morning, so far steering clear of monetary policy.
