News
CNN Money | Fiscal cliff threatens small businesses
Potential massive cuts in federal spending are still months away, but some small businesses that rely on government contracts are already feeling the pinch.
WSJ | Debate Over 'Fiscal Cliff' Weighs on Growth
Dithering in Washington over the "fiscal cliff" of automatic tax increases and spending cuts set for year-end is already hindering economic growth, according to economists surveyed by The Wall Street Journal.
Politico | Confidence in economy slips, poll suggests
Americans don’t think the economy is improving and they don’t believe Mitt Romney or President Barack Obama can help them, according to a new CNN/ORC International Poll.
Bloomberg | U.S. Consumer Bureau Proposes New Rules on Mortgage Servicing
The U.S. Consumer Financial Protection Bureau today proposed new regulations that would revamp how American homeowners interact with mortgage servicers.
CNN Money | Corn prices rally to new record high
Corn prices climbed to a record high Thursday, staging a fresh rally as investor gear up for the U.S. government's latest snapshot on corn production due Friday morning.
Econ Comments & Analysis
Market Watch | Years of paltry growth ahead, top forecaster says
Economist Ellen Zentner is obsessed with finding any tiny advantage when it comes to forecasting the weekly and monthly economic data that move financial markets the most.
WSJ | Why the Dismal Science Deserves Federal Funding
The federal deficit has ballooned in recent years, and even larger deficits are coming due to the expected growth of entitlement spending. There is little disagreement among members of both political parties that federal spending should be reduced. In such an environment it is crucial that the right criteria guide the cuts that will be made. Across-the-board cuts are not a thoughtful way to make choices.
Washington Times | Cut big business’s corporate welfare
With the federal government closing in on its fourth consecutive budget deficit in excess of $1 trillion, the national debt is hurtling toward dangerous levels. If the nation is to avert a debt crisis, federal policymakers need to aggressively balance revenues. Business subsidies, or “corporate welfare,” are a good place to start.
Market Watch | Forget Knight, there is no investor confidence
Last week’s implosion of Knight Capital, the biggest market maker in U.S. equities, created anxiety among traders and investors alike. The latest in a series of electronic blow-ups and glitches, it again raised the question of how reliable markets are in an age of high-frequency trading.
WSJ | Eminent Soundness
Edward DeMarco has done yeoman work for taxpayers as the chief regulator for Fannie Mae and Freddie Mac, and this week he did another good deed by sounding an alarm against cities that want to use eminent domain to seize underwater mortgages.
Blogs
WSJ | Secondary Sources: Generation Rent, Confidence, Economics of Spam
A roundup of economic news from around the Web.
Economist | Baby monitor
The Free Exchange in this week’s print edition looks at an unfamiliar aspect of inequality: inequality in poor countries. There is plenty of debate about inequality in rich countries; much of the discussion focuses on the impact of traditional macro-economic factors, such as skills and wages, tax policy and so on. Inequality in poor countries is less often examined, and so is the factor which is the main subject of the column this week: demographic change.
Library of Economics | Greenspan Embraces "Regime Uncertainty" Explanation
One of the unusual features of the current recession is the long persistence of high unemployment. Despite the claims of Carmen Reinhart and Kenneth Rogoff, deep recessions accompanied by financial panics are usually followed by steep and rapid recoveries, at least in U.S. history, with the exception of the Great Depression.
