News
Bloomberg | Euro-Area Exports Decline for Second Month Amid Recession
Euro-area exports fell for a second month in October as the economy struggled to pull out of its second recession in four years.
Washington Post | ECB’s Draghi urges leaders to create authority to clean up banks, on top of new watchdog
The head of the European Central Bank says EU leaders must move forward and set up an authority to clean up failed banks in a way that doesn’t leave taxpayers stuck with the bill.
Bloomberg | Manufacturing in New York Area Shrinks More Than Forecast
Manufacturing in the New York region shrank for a fifth straight month in December, while an increase in optimism about the next six months signals factories are poised to rebound should the federal government resolve its impasse over fiscal policy.
WSJ | Economy Poised for 2013 Gain
As 2012 comes to a close, the U.S. economy is also turning a page: The recovery is over. It looks like 2013 will be the start of a more normal, though hardly robust, period of growth.
Bloomberg | Treasury Plan Would Cut Rates on Some Mortgages in Bonds
Some struggling homeowners left out of current U.S. government mortgage-aid programs because their home loans have been packaged into private securities could see their interest rates cut through a subsidy being considered by the Treasury Department.
Washington Times | Senate fails to extend account insurance
A federal program giving unlimited insurance guarantees to some no-interest bank accounts, enacted at the height of the financial meltdown, will die out at the end of the year after the defeat of a Senate plan to extend it.
Econ Comments & Analysis
Real Clear Markets | The Bondage Of Redistribution Ideology
The idea that we should take from those who have and give to those who don't is viewed as proper and just among liberals. In fact, if you do not subscribe to redistribution ideology, you are attacked as being greedy at best and racist at worst. The problem is that income redistribution in practice promotes one of the same moral injustices found under slavery.
Blogs
Economist | The safe asset shortage
Everyone needs to save. People need to be able to cover unexpected expenses and income reductions, to say nothing of retirement. To accomplish this, we buy equities and bonds, hoard gold coins and physical currency, open bank accounts, accumulate real estate, purchase insurance coverage, and even stock up on canned food.
