News
Market Watch | U.S. economy speeds up in third quarter
The U.S. economy sped up in the third quarter as consumers and the federal government boosted spending and home construction accelerated.
WSJ | South Korea GDP Growth Slows
The South Korean economy grew at the slowest pace in nearly three years in the third quarter from the prior three months as the persistent euro-zone debt crisis hurt corporate investment, the Bank of Korea said Friday, adding to pressure on the central bank to keep its policy rate low to promote growth.
FOX News | Average US rate on 30-year fixed mortgage edges up to 3.41 pct.; 15-year loan at 2.72 pct.
Average U.S. mortgage rates rose only slightly this week and continued to hover near record lows, a trend that has helped boost home sales and refinancing.
Market Watch | Business investment has ground to a halt
Despite an incredible 9.9% gain in orders for durable goods in September, business investment — one of the major engines of economic and profit growth over the past three years — has stalled out, at least temporarily.
Bloomberg | Michigan Consumer Sentiment Index Rose to 82.6 in October
Confidence among U.S. consumers rose in October from the prior month to the highest level since before the last recession began five years ago.
Econ Comments & Analysis
WSJ | The Anatomy of Government Failure
More than any presidential election since 1980, the current campaign is about the proper size and scope of government. With so fundamental an issue at stake, the chronic claims on behalf of government "solutions" for perceived problems need to be subjected to a reality check.
Washington Times | U.S. economy on schedule to crash March 2014
Those wild and crazy Mayans put down their marker that the end of the world would occur on Dec. 21, 2012 — about two months from now. There is, of course, some small chance that they might be right. On the other hand, there is a very large probability that the real end of the world will occur around March 4, 2014.
AEI | Returning to an economic growth agenda
The engine of growth that has fueled the U.S. economy for over 225 years appears idle. In the five-year period from the second half of 2007 through the first half of 2012, the U.S. GDP growth rate has averaged just 0.6 percent annually. In fact, as the accompanying chart indicates, the average annual growth rate of the U.S. economy has been below 1 percent during the last five years, far slower than its recent historical average.
Real Clear Markets | Got a Problem? Easy, Blame Free Trade
It is not an understatement to say that Europe is an economic mess. It might be surprising, however, to mention that one of the most dysfunctional national pieces inside the patchwork currency noose of the euro is France.
Heritage Foundation | 2013 Index of Economic Freedom: No Boost in Trade Freedom
The latest rankings of trade freedom around the world, developed by The Heritage Foundation and The Wall Street Journal in the forthcoming 2013 Index of Economic Freedom, once again demonstrate how citizens of countries that embrace free trade are better off than citizens of countries that do not.
Blogs
Economist | Better faster than slower
It isn't difficult to be the least dirty shirt in the hamper these days. America's economy seems to relish the role, continuing to post growth performances that would be utterly disappointing were they not so much better than those managed by other rich countries. Real output rose at a 2% annual pace in the third quarter, reported the Bureau of Economic Analysis this morning. That's miles better than Europe, which remains stuck in recession.
John Taylor | An Unusually Weak Recovery as Usually Defined
The view that the current U.S. recovery is unusually weak compared to past U.S. recoveries from recessions with financial crises is gaining more and more support.
