News
Bloomberg | AIG Says Oversight Panel Weighing Systemic Risk Label
American International Group Inc. (AIG), the insurer that counts the U.S. as its top shareholder, said a government panel has told the company it is under consideration to be labeled a potential risk to the financial system, a designation that would bring increased federal oversight.
WSJ | Europe's Economic Outlook Worsens
Euro-zone manufacturing activity shrank for the 14th straight month in September and unemployment hit a fresh record in August, suggesting prospects are worsening for a quick return to growth in the currency bloc.
Washington Times | Economy Briefs: U.S. manufacturing up for 1st time in 4 months
U.S. manufacturing grew for the first time in four months, buoyed by a jump in new orders and more jobs. The increase is a hopeful sign that the economy may be improving after a weak stretch.
WSJ | World Bank Sees Long Crisis Effect
The European debt crisis could weigh on the world economy for years, forcing policy makers to rethink their approaches to restoring growth and boosting job creation, the World Bank's new chief economist said in an interview Monday.
Bloomberg | Wall Street Equities Traders Face Worst Year Since 2006
Wall Street banks’ equities-trading units aren’t getting much relief from the strongest stock rally since 2009, as sinking volume and already thin margins threaten to make their annual performance the worst in six years.
AOL Energy | Energy Policy Debate: Fossil Fuels vs. Renewables
Energy tax policy and regulation – what they are and what they should be – are the critical issues for the Presidential candidates, diverse energy experts agreed.
Econ Comments & Analysis
Daily Caller | America’s future: California or Texas?
It is oft said that if you want a glimpse of America’s future, look to California. The home to Hollywood has led the way in national trends from the first no-fault divorce law and the permissive Therapeutic Abortion Act of 1967 (both were signed into law by Ronald Reagan) to the great Proposition 13 property tax cut of 1978.
FOX Business | U.S. Says AIG Still Too Big Too Fail, May Get Heightened Oversight
Insurance giant AIG is one of the major nonbank financial companies being considered for greater regulation and oversight under the Dodd-Frank act.
Blogs
Heritage Foundation | 10 Ways the Obama Administration Is Hurting America’s Energy Economy
One of the few bright spots over the past few years in America’s economy has been energy production, but this has occurred largely in spite of this Administration’s energy policies, not because of them.
Economist | Growth without rebalancing is not enough
My colleague writes that the turmoil in the euro zone will persist until growth resumes. In particular, he sensibly notes that beleaguered treasuries will not be able to prevent sovereign debt burdens from spiraling out of control unless tax revenues rise.
Political Calculations | The Microrecession of 2012-Q2
As we've long forecast, the BEA's third estimate of GDP for the second quarter of 2012 has confirmed that the U.S. economy is at least experiencing a microrecession.
National Review | More Americans Dependent on Disability, Longer
While looking into the reasons for the drop in labor-force participation, I stumbled upon this report by Senator Coburn called “Social Security Disability Programs: Improving the Quality of Benefit Award Decisions.” There he notes that “economists estimate that Americans added to disability rolls could account for as much as a quarter of the two percent drop in the labor force participation rate since 2007.”
