News
Bloomberg | U.S. Mortgage Rates Little Changed With 30-Year at 3.38%
U.S. mortgage rates were little changed, keeping borrowing costs close to record lows as home values climb after the worst slump since the Great Depression.
FOX Business | Housing Starts Hit Highest Rate Since June '08
U.S. home building closed out 2012 with the most new homes started since June 2008, as the Commerce Department reported on Thursday a 12.1% rise in housing starts last month.
Bloomberg | Euro Area Seen Stalling as Draghi’s Pessimism Shared: Economy
The euro-area economy won’t return to growth until the next quarter as a recovery in Italy is delayed and France continues to shrink, according to a survey of economists.
WSJ | Fed Reports Point to Subdued Economic Growth
The U.S. economy expanded in recent weeks as consumers stepped up spending, but weak hiring is restraining growth, the Federal Reserve said Wednesday.
CNN Money | Citigroup posts big earnings miss
Citigroup's new CEO, Michael Corbat, is off to a shaky start at the helm of the third largest U.S. bank.
Bloomberg | Manufacturing in the Philadelphia Area Unexpectedly Shrinks
Manufacturing in the Philadelphia region unexpectedly contracted in January, an indication companies are becoming more concerned about across-the-board U.S. government spending cuts that could slow growth.
Econ Comments & Analysis
Forbes | Too Big To Fail Banks Crumble Before Greedy Federal Government In Mortgage Deal
The $8.5 billion mortgage settlement agreed to by ten major banks on January 7 reveals, once more, the coercive power of government to expropriate assets from businesses judged guilty by public opinion without proof of legal wrongdoing.
Investors | Texas A Model State For Dynamic Job And Economic Growth
The American economy has had little to cheer about since the 2008 financial meltdown and the resulting recession. Recovery has been feeble, and many states continue to struggle. One bright spot in the general gloom, however, is Texas, which began shining long before 2008.
WSJ | After Four Bleak Obama Years, an Opportunity
As President Obama prepares to be sworn in a second time, it's a good moment to consider the state of the union during his era.
Blogs
Calculated Risk | CoreLogic: Negative Equity Decreases in Q3 2012
CoreLogic ... today released new analysis showing approximately 100,000 more borrowers reached a state of positive equity during the third quarter of 2012, adding to the more than 1.3 million borrowers that moved into positive equity through the second quarter of 2012.
Economist | A response to David Beckworth
Last month, I joined an ongoing conversation within the blogosphere about the shortage of safe financial assets. My conclusion was that the shortage exists for good reasons and that certain governments could help alleviate it by issuing more bonds.
