News
Market Watch | Households cut debt again in first quarter
American households cut their overall debt again in the first quarter and saw a $2.8 trillion increase in net wealth owing to stock-market gains — gains that have since evaporated.
CNBC | Global Stall Speed? Imports, Exports Both Post Declines
The U.S. trade deficit narrowed in April as global demand faltered, with both imports and exports dropping from record high levels set in March, a government report showed on Friday.
CNN Money | Mortgage rates sink to new record low
Mortgage rates have fallen to a new record low, according to Freddie Mac, and the stagnant economy is to blame.
WSJ | Japan's Economy Grew Faster Than Estimated
Japan's economy grew more strongly than previously estimated in the January-March quarter, but a smaller-than-expected rise in the current account in April suggests the good times may not continue.
Econ Comments & Analysis
Washington Times | Europe in denial
Time is running out for Europe. As Spain’s banking crisis deepens, politicians on the continent remain in denial. The only solutions in their mind involve borrowing or subsidies from German taxpayers.
NBER | Would You Buy a Honda Made in the U.S.? The Impact of Production Location on Manufacturing Quality
Using a unique data set of over 565,000 used-car transactions at wholesale auctions, we test whether the long-run value and quality of otherwise identical cars depends on the country of assembly.
CNBC | Fed's Rosengren Warns on Growing Economic Risks
Risks to the world's economic and financial outlook are again growing and affecting the behavior of households and businesses, a top U.S. Federal Reserve official said on Thursday.
Forbes | The Ongoing Disgrace That Is Obamanomics
President Obama has led America into an accelerating downward spiral. Destination: Argentina. Last Friday’s calamitous jobs report was just a signpost on the way.
Blogs
Heritage Foundation | Bernanke’s Message to Congress: Your Turn for Good Economic Policy
The stock market rose Wednesday in anticipation of Federal Reserve Board Chairman Ben Bernanke’s remarks Thursday. Traders sold Treasury bonds and bought stocks, hoping Bernanke would announce a new monetary stimulus.
Economist | Recoveries and lost decades
Earlier this week, the Bureau of Economic Analysis released its advance estimate for state-level GDP growth in 2011. For most of the country, 2011 brought decent though not outstanding growth.
WSJ | Companies Sitting on Much Less Cash Than First Thought
That record pile of idle corporate cash turns out to be much smaller than previously believed. Half a trillion dollars smaller.
WSJ | Vital Signs: Turning Less Productive
The economy turned less productive during the first quarter. Nonfarm business productivity, the output per hour of all workers, fell at a 0.9% annual rate in January through March, the biggest slide in a year.
