News
WSJ | U.K. Businesses Wary of Spending
Economic uncertainty continues to limit U.K. business investment plans, with the latest figures published Tuesday reporting a fourth consecutive net repayment by nonfinancial firms to British high street banks.
Washington Times | Caterpillar: Economy weaker than expected
Caterpillar says the world’s economy is weaker than it thought, and it doesn’t expect growth to pick up until the second half of next year.
Bloomberg | World Bank Lauds Developing Nations’ Competitiveness Push
Singapore ranked at the top of the World Bank’s annual competitiveness study for a seventh straight year, while developing nations were found to be accelerating reforms making it easier to open and operate businesses.
CNN Money | Gas price slide could brighten Thanksgiving
Americans thinking about driving over the river and through the woods for Thanksgiving could be in line for a nice surprise: lower gas prices.
Market Watch | CFTC's Gensler: Derivatives transparency by 2013
The public will benefit from real-time reporting for the $650 trillion global derivatives market by year-end, the nation's commodity futures regulator said Tuesday.
Bloomberg | DeMarco Shrinks Fannie-Freddie Without Help From Congress
The man with power over more than half of U.S. mortgages lives in a 1961 brick split-level house. There’s a basketball hoop in the driveway and a green Subaru Outback in the carport. The homes on Edward J. DeMarco’s block are so close that neighbors see into each other’s windows.
Econ Comments & Analysis
WSJ | The Real Stimulus: Low-Cost Natural Gas
An unconventional oil and gas revolution is under way in the United States, but its full ramifications are only beginning to be understood. The basic facts are clear enough. Half a decade ago, it was assumed that the U.S. would become a large importer of liquefied natural gas; now the domestic natural gas market is oversupplied, thanks to the ability to produce shale gas through hydraulic fracturing and horizontal drilling technologies.
Real Clear Markets | Obama Envisions An Energy Future Through Pink Shades
In Monday's third foreign policy debate President Obama promised to develop the energy sources of the future.
WSJ | Banking Union or Bailout Union?
European policy makers are trumpeting the progress they made at last week's summit: The EU will agree "over the course of 2013" on how its banking union will work. But the more interesting action took place on the summit's sidelines.
Blogs
Daily Capitalist | Fraud: Why The Great Recession
Free markets are not to be blamed for the Great Recession. On the contrary, its origins rest upon the deep government and central bank intervention in the economy. Through fraudulent mechanisms, this causes recurrent boom and bust cycles: bad policies create phases of irrational exuberance, which are then followed by economic recessions, a result that every citizen ends up suffering from.
John Cochrane | Are recoveries always slow after financial crises and why
Carmen Reinhart and Ken Rogoff have an interesting new Bloomberg column, "Sorry, U.S. recoveries really aren't different." They point to the great Barry Eichengreen and Kevin O'Rourke "Tale of two depressions: what do the new data tell us" columns.
AEI | Disagreeing with Christina Romer on the value of the Obama stimulus
Former Obama White House economic adviser Christina Romer gives it her best effort in defending the efficacy of the 2009 American Recovery and Reinvestment Act. In a New York Times op-ed yesterday, Romer says the stimulus package wasn’t “the knockout punch the administration had hoped for, but a valuable effort that improved the lives of many.”
