News
Market Watch | Judging recovery time from the Great Recession
Getting a handle on how long it’ll take to recover from the Great Recession is more art than science, but a few economists think there are lessons from the past that might prove useful for those seeking a light at the end of the tunnel.
Bloomberg | UBS Cutting Investment Bank Seen Freeing Investors Cash
UBS AG (UBSN)’s decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland’s largest bank to return more funds to shareholders.
Market Watch | U.S. consumer spending climbs 0.8% in September
Consumer spending in the U.S. rose a seasonally adjusted 0.8% in September, the Commerce Department said Monday. Spending for August was unchanged at a 0.5% increase.
WSJ | Economy Grows at 2% Pace
Consumers, Government Spending Powered Third-Quarter Gains but Growth Likely to Slow Down.
Fox News | Gauge of consumer sentiment hits 82.6 in October, highest reading since September 2007
The University of Michigan's final index of October consumer sentiment rose to 82.6 from 78.3 in September. That's the highest since September 2007 — three months before the Great Recession began.
USA Today | Business spending tightens as fiscal cliff nears
The median forecast of 48 economists surveyed by USA TODAY before Friday's report predicted the economy will grow 1.9% this quarter and next, strengthening in the middle of the year and reaching a 2.8% growth rate late next year.
Econ Comments & Analysis
Washington Times | EDITORIAL: The ongoing slump
Uncle Sam’s current path guarantees economic stagnation.
WSJ | Chronic Fatigue Economy
We borrowed $5 trillion and all we got was this lousy 1.7% growth.
Bloomberg | Why More Immigration, Not Less, Is Key to U.S. Economic Growth
Beyond the huge importance of immigrants to the U.S. economy today, three forces are making immigration reform more urgent:
RCM | Calling All Economists: How Many Steaks Can a Rich Man Eat?
If income inequality is the class warrior's casus belli, the Gini coefficient, a measure of statistical wealth or income dispersion, is his battle cry. "Unfair!" barks the champion of equal outcomes, advocating equality neglectful of its impact on prosperity.
MSN Money | The economy is weaker than it looks
The third-quarter GDP number continues a streak of misleading economic data.
Washington Times | EDITORIAL: Worst economic recovery, ever
The Obama administration is hailing the latest economic growth figures as evidence things are getting better. They’re not. As with recent unemployment data, these numbers don’t pass the smell test. In your guts you know they’re nuts.
Blogs
AEI: The American | The Financial Stability Oversight Council’s Fatal Flaw
Can the FSOC point out that its own members are creating potential instability and systemic risk? If it cannot, it is constitutionally incapable of carrying out its statutory assignment.
"Calculated Risk |
Unofficial Problem Bank list declines to 864 Institutions"
There were five removals and four additions leaving the Unofficial Problem Bank List with 864 institutions with assets of $330.4 billion. A year ago, the list had 985 institutions with assets of $406.6 billion.
Heritage Foundation | Major Benefits of Free Trade
Nations that embrace international trade enjoy significantly stronger economies, achieve lower rates of hunger, and maintain a better stewardship of the environment, according to new data published by Heritage for the forthcoming Index of Economic Freedom.
AEI | Weak GDP report shows no end in sight for the Long Recession
The anemic growth rate means the current recovery remains extraordinarily fragile. Research from the Fed which finds that since 1947 when two-quarter annualized real GDP growth falls below 2%, recession follows within a year 48% of the time.
Calculated Risk | Schedule for Week of Oct 28th
The key report this week is the October employment report to be released on Friday. Other key reports include the August Case-Shiller house price index on Tuesday, October auto sales on Thursday, and the October ISM manufacturing index, also on Thursday.
AEI | Think food is more expensive today than in the past? It’s not, it’s now cheaper than ever before
When you adjust food prices for inflation, you might be surprised to learn that your dollars go further today compared to 30 years ago — for most products at least. Don’t believe it? See for yourself with an interactive grocery shopping simulator that reveals how much your grocery bill varies over the past three decades.”
