News
Bloomberg | Consumer Comfort Stagnates as U.S. Lawmakers Debate Budget
Consumer confidence in the U.S. stagnated last week, showing a lack of improvement since October as lawmakers continue to search for common ground on taxes and government spending in 2013.
Market Watch | U.S. retail sales rebound in November
American consumers didn’t go shopping much in October, but they made up for it in November.
Bloomberg | Mortgage Rates in the U.S. Drop to Near-Record Lows
The average rate for a 30-year fixed mortgage was 3.32 percent in the week ended today, down from 3.34 percent, McLean, Virginia-based Freddie Mac (FMCC) said in a statement. The average 15- year rate slipped to 2.66 percent from 2.67 percent.
CNN Money | Greece aid clears final hurdle
Eurozone finance ministers formally agreed Thursday to release more aid to Greece, with the first installment of funds due in the coming days.
National Journal | Fed Gloomier on Economic Forecast
The Federal Reserve on Wednesday issued a slightly more pessimistic forecast for economic growth and a slightly less pessimistic one for unemployment in 2013.
Econ Comments & Analysis
Investors | The Government, Not The Market, Created Our Financial Crisis
Suppose you saw a building on fire. Would you seek counsel from the arsonist who set it ablaze for advice on how to put it out?
AEI | For a human scale system productivity
The recent agreement reached on productivity between the Italian government and the labour and entrepreneurial trade unions is a good starting point, but certainly not the solution to the problem of competitiveness and productivity.
Blogs
AEI | US net worth has recovered $13.5 trillion, but still below 2007 peak
By the way, the Fed’s latest Flow of Funds data show that the net worth of US households recovered by $1.7 trillion to $65 trillion during Q3.
Keith Hennessey | What kind of negotiator is President Obama?
President Obama’s behavior over the past month is consistent with three different models, and I cannot figure out which one applies.
AEI | SSI exemplifies America’s flawed approach to social welfare policy
As Nick Kristof wrote in his Sunday New York Times column and as Arthur Brooks noted in his blog post yesterday, some social welfare programs exhibit serious flaws. While budget concerns drive program criticism—particularly in the context of the looming fiscal cliff—the most effective calls for reform grow out of these programs’ ultimate failure to assist their targeted populations in achieving economic independence.
