News
CNN Money | It's not just a low-wage recovery
It's true that the economy has added a lot of low-paying jobs over the last two years. Restaurants and bars, which pay a median wage of just $9 an hour, have accounted for 15% of all the jobs created in the recovery. Retailers, which pay a median $11 an hour, make up another 9%.
Bloomberg | Commodities Post Biggest Loss in 5 Months to Trail Stocks
Slumping energy and metal prices sent commodities to their biggest monthly loss since May, lagging behind stocks, bonds and the dollar, as the global economy grew at the slowest pace since the 2009 recession.
Market Watch | Banks not making getting a mortgage easier
Interest rates are at record lows, house prices are starting to creep higher and foreclosures have dropped, but banks aren’t making it any easier to get a mortgage, according to the latest survey of senior bank officials.
Bloomberg | Manufacturing in U.S. Expands at Faster Pace in October
Manufacturing in the U.S. expanded in October at a faster pace than projected as orders and production picked up, showing the industry is stabilizing.
Market Watch | Consumer-confidence gauge highest since 2008
Led by brighter views on present employment and business conditions, the Conference Board’s gauge of consumer confidence jumped in October to the highest level since February 2008, the New York-based research group said Thursday.
Econ Comments & Analysis
Heritage Foundation | Obama’s Regulatory Agenda: Calm Before the Superstorm
After three years of unprecedented regulatory activity, the Obama Administration has noticeably slowed its rulemaking in recent months. A number of major rules remain under prolonged “review” by the White House, while publication of the regulatory agenda required by statute has not occurred.
WSJ | Hurricanes and Human Choice
Hurricane Sandy left in its path some impressive statistics. Its central pressure was the lowest ever recorded for a storm north of North Carolina, breaking a record set by the devastating "Long Island Express" hurricane of 1938. Along the East Coast, Sandy led to more than 50 deaths, left millions without power and caused an estimated $20 billion or more in damage.
Real Clear Markets | Basel III Hurts Community Banks and Consumers
Have an account at a community bank? If you do, your bank may not be around for much longer. This is not because community banks have overleveraged themselves, made bad bets on derivatives, or loaned money to people who couldn't pay it back.
Forbes | Paul Krugman's Stimulus Batters The East Coast, Fueling Economic Growth
Mainstream economists, corporate executives, politicians, and pundits are still totaling up the windfall boost to the nation’s GDP, but most agree that the benefits from this week’s savage “Frankenstorm,” which brought the Eastern seaboard to its knees, will surely propel President Obama to reelection victory.
WSJ | A Slow but Steady Climb to Prosperity
'Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." When John Adams penned those words in 1770, he probably didn't anticipate modern presidential campaigns, where wishes, inclinations and passions—even outright denials—often run roughshod over facts.
Blogs
Library of Economics | Hayek and Hurricanes
In a natural disaster like Hurricane Sandy, the only thing people should fear more than the storm is the government's response.
Political Calculations | Hurricane Sandy and Lessons from Katrina
How much more in taxes would you be willing to pay for the sake of reducing the risk of having to recover from the damage done by a natural disaster?
Café Hayek | A Blast From the Past
Economists and policymakers started looking around for some other way to fix things. They dusted off some old books and found that there’s one guy in particular who’d given a lot of thought to get out of a situation like this.
