News
Market Watch | Wait to hit stimulus brakes: business economists
Economists who work for businesses and banks believe taxes should be raised and spending should be cut to reduce the government’s budget deficit — just not next year.
Market Watch | Big bank derivatives trading drops: report
The amount of derivatives held by insured U.S. banks and savings institutions fell for the fourth consecutive quarter, according to the Office of the Comptroller of the Currency in its second quarter report Friday.
CNN Money | German businesses remain gloomy
Faced with a persistent debt crisis in Europe, German businesses see few reasons for optimism.
Econ Comments & Analysis
NBER | Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
The main rationale for policy intervention in debt renegotiation is to enhance such activity when foreclosures are perceived to be inefficiently high.
Real Clear Markets | It's Time to Regulate the Regulators
For the past 30 years, first under President Reagan's Executive Order 12291, and then succeeded by President Clinton's Executive Order 12866, U.S. government executive branch agencies have been required to prepare a regulatory impact analysis, including a cost-benefit analysis, for all major federal administrative rules ("regulations") having an annual effect on the economy of $100 million or more, or those having an adverse effect on the economy or a federal agency action.
Minyanville | The Recession That Won't End
Greece is near the end of its tenure in the European Monetary Union (EMU). Deposits continue to flee the country. Worse, 20% of Greek bank loans are now non-performing (that number is only 9.5% in Spain, a record high there and causing increased concern).
WSJ | The Mess He Inherited
A full four years after the collapse of Lehman Brothers, the 2008 financial crisis continues to shape American politics. How else to explain polls showing President Obama with an edge over Mitt Romney on economic issues, despite high unemployment and stagnant incomes?
Washington Post | The American Dream’s empty promise
It’s time to retire the American Dream — or at least give it a long vacation. We ought to drop it from our national conversation.
Blogs
Calculated Risk | Unofficial Problem Bank list declines to 878 Institutions
As anticipated, the OCC released its actions through mid-August 2012 that led to many changes in the Unofficial Problem Bank List.
Greg Mankiw | Mankiw vs. DeLong and Krugman on the CEA’s Real GDP Forecasts in Early 2009: What Might a Time Series Econometrician Have Said?
In early 2009, the incoming Obama administration’s Council of Economic Advisers predicted real GDP would rebound strongly from recession levels.
Calculated Risk | Schedule for Week of Sept 23rd
Other key reports include the third estimate of Q2 GDP on Thursday, and August Personal Income and Spending on Friday.
National Review | 55 Percent of americans Say Government Has Too Much Influence Over Our Lives
A new Reason Foundation poll finds that a majority of people believe that the government has too much influence on their lives (so do I).
John Taylor | Regulatory Expansion Versus Economic Expansion in Two Recoveries
Much can be learned by comparing the very weak recovery from the 2007-2009 recession with the very strong recovery from the 1981-82 recession.
