News
National Journal | Why the Economy Won't Blast Off Anytime Soon
The good news is that the uncertainty leading up to the year-end fiscal cliff negotiations didn’t seem to hit the labor market hard, as some had feared. The bad news is an economic surge in 2013 appears out of reach, at least for now.
Bloomberg | Housing a Sweet Spot for U.S. Economy as Recovery Expands
At Lambert Ranch, an Irvine, California, housing development where prices start at $1 million, just two of 98 homes are unsold since the project opened in May.
CNN Money | Glimmer of hope for Europe's economy
Europe's economy showed signs of resilience in December as activity in Germany stabilized, suggesting a return to growth later this year might be in the cards.
FOX Business | Factory Orders Flat in November
New orders received by U.S. factories were flat in November, missing expectations as demand for aircraft sank sharply, although a gauge of business spending plans still gave a positive sign for the economy
Bloomberg | Services in U.S. Expand at the Fastest Pace in 10 Months
Service industries in the U.S. expanded in December at the fastest pace in 10 months, helping spur the world’s largest economy at the end of 2012.
WSJ | Google Dodges Antitrust Hit
The Federal Trade Commission said Thursday it wouldn't bring charges against Google after a 19-month investigation into whether the company favored its own products and services in its search results and unfairly harmed rivals.
Econ Comments & Analysis
Washington Times | Red tape on the rise
That dysfunctional arrangement ensures President Obama won’t be able to get away with passing all the bills he needs to fulfill his agenda. He showed in his first term a willingness to use regulatory agencies to enact by rule what he couldn’t by law. As a recent Competitive Enterprise Institute (CEI) report found, the renewed emphasis on red tape in the second term will cost Americans dearly.
WSJ | The Taxman's Uncharitable New Rule
The Occupy Wall Street, what's-yours-is-mine-sentiment is alive and well, at least judging by the furious reaction to a recent message I sent out on Twitter concerning the tax increase that President Barack Obama just signed into law.
Washington Times | ‘Fiscal cliff’ drama reveals flawed system
Gerrymandering is, by definition, a practice “that attempts to establish a political advantage for a particular party or group by manipulating geographic boundaries to create partisan or incumbent-protected districts.”
AEI | Fiscal cliff deal bad for future generations
The fiscal cliff has been averted, but no one should be patting themselves on the back. Congress managed at the last second to largely avoid tax hikes and to defer automatic across-the-board spending cuts of over $100 billion a year. But overall, the machinations before the legislation and the legislation itself are disastrous for five reasons.
Blogs
Library of Economics | Finance Regulations to Watch in 2013: International Speed Bankruptcy & U.S. Crowdfunding
US and UK regulators will unveil the first cross-border plans to deal with failing global banks on Monday, outlining proposals to force shareholders and creditors on both sides of the Atlantic to take losses...
Market Watch | Prepare for zero real growth in the U.S. in 2013
The fiscal-cliff deal — the tax half of the deal anyway — is now past us, and the reflation trade continues along. However, what we now see, which the very scary Paul Farrell pointed out this week, is a number of very strong headwinds developing for 2013 and 2014. Farrell is primarily looking for the Black Swan, which is the in vogue thing to do since 2008, but there are much more evident storms coming to eventually find shelter from.
WSJ | Making It to the 1% and Staying There
Lurking not far beneath the surface in the uproar over the 1% versus the 99% is the notion that once an American makes it to the top he or she is very likely to stay there. But is that so?
CATO | How Trade Agreements Stray from Free Trade
U.S. labor unions are keeping an eye on the U.S.-European efforts to deepen economic ties, and believe a potential U.S.-EU trade agreement could provide an opportunity to raise some U.S. labor standards to the level prevailing in EU member states, according to labor sources.
