News
WSJ | Consumer Spending Declines 0.2%
U.S. consumer spending fell in October, partly reflecting superstorm Sandy's impact on the Northeast during the final days of the month.
Econ Comments & Analysis
Forbes | Booming Economic Growth Can Be Broken Down To Four Easy Words
I sometimes refer to the Magic Formula for economic prosperity. Here it is: Low Taxes, Stable Money. It’s only four words. That’s so it is easy to remember.
Forbes | Why Does The Federal Government Subsidize Retirement?
Have you ever wondered why we have a Social Security system? Now that the Obama administration and Congress are facing a “fiscal cliff,” it’s time to rethink that question.
Blogs
Calculated Risk | Unofficial Problem Bank list declines to 856 Institutions
CR Note: Usually I post this on Saturday - sorry for the delay. The first unofficial problem bank list was published in August 2009 with 389 institutions. The number of unofficial problem banks grew steadily and peaked at 1,002 institutions on June 10, 2011. The list has been declining recently.
Political Calculations | 2012Q3 GDP: An Upward Revision, As Expected
The revised Q3 GDP number jumped upward to 2.7%, the best quarter of the year, although still substantially a stagnation number, especially when one sees the source of the growth
Marginal Revolution | Is the eurozone doomed?
On the bright side, the fact that markets haven’t ended the European mess by themselves — say, through a truly huge capital flight from the more troubled countries — suggests that a solution does exist in principle, and may even take hold.
Calculated Risk | Schedule for Week of Dec 2nd
The key report next week is the November employment report to be released on Friday. Other key reports include November auto sales on Monday, the November ISM manufacturing index, and the November ISM service index.
