News
Bloomberg | U.S. Banks Have Provided $26.1 Billion Under Foreclosure Accord
The five largest U.S. mortgage servicers have provided about $26.1 billion for borrowers so far under a $25 billion settlement over abusive foreclosure practices, according to a court-appointed monitor.
Bloomberg | Treasuries’ Foreign Buying Doubles China’s Sales
Even with all the concern about the so-called fiscal cliff, another confrontation over government borrowing limits and Chinese ownership of U.S. debt, foreign investors can’t get enough Treasuries.
Politico | Appropriations panels quietly work on omnibus
Defying expectations, House and Senate appropriations committees are making steady progress in writing an omnibus spending bill for the coming year, hammering away like shipbuilders in the desert, hoping for a winter flood to carry them out to sea.
Econ Comments & Analysis
Washington Post | The ‘fiscal cliff’ deal we need
The first reason to avoid going over the “fiscal cliff” is economic. The $500 billion of tax increases and spending cuts scheduled for early 2013 would probably cause a new recession.
Blogs
Library of Economics | Altering the Federal Debt Structure: Go Long
One advantage the United States has that Canada didn't is low interest rates. Interest rates today are much lower than when the Canadian government altered course.
