News
Bloomberg | Manufacturing in New York Region Shrinks More Than Forecast
Manufacturing in the New York region contracted more than forecast in September as orders shrank, a sign the world’s largest economy will get less support from the industry.
CNN Money | Obama's college tuition plans face tough fight
In his re-election campaign, President Obama says he wants to cut the growth of college tuition in half over the next decade.
WSJ | Euro-Zone Trade Surplus Widens, Wages Rise
The euro zone's trade surplus widened in July as imports fell, while wages picked up in the second quarter, suggesting the currency area's economy is unlikely to contract deeply this quarter.
Bloomberg | U.S. Challenges China Trade Subsidies on Cars, Auto Parts
The U.S. filed its second car- related complaint against China at the World Trade Organization since President Barack Obama began his re-election campaign, accusing the Asian nation of illegally subsidizing exports of automobiles and auto parts.
WSJ | U.S. to File WTO Charges on China
The Obama administration plans to announce Monday it will file new World Trade Organization complaints against China, charging Beijing with violations on automobiles and automobile parts, people familiar with the cases said.
Bloomberg | Euro-Region Exports Decline, Adding to Slowdown Signs: Economy
Euro-area exports declined in July, adding to signs of a recession after the economy was pushed into a contraction in the second quarter.
Econ Comments & Analysis
WSJ | A Watershed for Democrats and Unions
The Chicago teachers strike moved toward settlement over the weekend, but fell short. A question hanging over the negotiations: What has the strike really been about?
CATO | No Way to Run an Economy
One defining characteristic of cronyism is that politically connected businesses and industries get special favors from the government.
Real Clear Markets | We May Be In For Another Malaise Worthy of "Great"
To finance World War II, the government ran massive deficits that were underwritten not so much by patriotic expressions of "war bonds", but by a central bank peg to the interest cost on government debt. In other words, the Federal Reserve agency oriented monetary policy so that bank reserves would be tied to the ability of private banking concerns to purchase government bonds at fixed rates of interest.
WSJ | The Magnitude of the Mess We're In
Sometimes a few facts tell important stories. The American economy now is full of facts that tell stories that you really don't want, but need, to hear.
Bloomberg | About Those Policies That Got Us Into This Mess
“They want us to go back to the same old policies that got us into this mess in the first place.”
The American | U.S. Manufacturing’s Brave New World
After losing 6 million manufacturing jobs between 2001 and 2009, the American manufacturing sector has reemerged as a beacon in an otherwise lackluster economic recovery.
NBER | The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications
We study the cyclical properties of sales, regular price changes and average prices paid by consumers (“effective” prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas.
Blogs
CATO | Can I Get Some Free Trade in My Free Trade Agreements?
Last week, I voiced several complaints about the Trans Pacific Partnership, the main trade agreement being negotiated by the U.S. Let me add another concern: There’s too much protectionism in this “free trade” agreement.
Calculated Risk | Schedule for Week of Sept 16th
There are three key housing reports to be released this week: September homebuilder confidence on Tuesday, and August housing starts and August Existing Home sales, both on Wednesday.
Library of Economics | Questions for Austrians
What are some important, substantive economic claims that can be known a priori?
Calculated Risk | Unofficial Problem Bank list declines to 886 Institutions
There were two removals and one addition to the Unofficial Problem Bank List, which leaves it standing at 886 institutions with assets of $330.5 billion. A year ago, the list held 984 institutions with assets of $402.4 billion.
Political Calculations | What's Your Income Percentile?
Now that the U.S. Census has released its total money income data it collected as part of its 2012 Annual Social and Economic Supplement survey, we can tell you almost exactly where you rank among American individuals, men (if you're a man), women (if you're a woman).
Calculated Risk | August Update: Early Look at 2013 Cost-Of-Living Adjustments indicates 1.4% increase
The BLS reported this morning: "The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.7 percent over the last 12 months to an index level of 227.056 (1982-84=100).
WSJ | Number of the Week: Top 20% of Earners Take Home 51% of All Income
51.1%: The share of all income going to the top 20% of earners.
Daily Capitalist | ECRI: The 2012 Recession
The Economic Cycle Research Institute (ECRI) came out yesterday with a defense of its much criticized recession call. As readers know I am cautious about their calls mainly because they use a “blackbox” proprietary methodology which is kept secret by them (in order to justify their high fees). But they have an extraordinary record.
