News
Bloomberg | Homebuilder Confidence in U.S. Unexpectedly Fell in February
Confidence among U.S. homebuilders unexpectedly dropped in February from a more than six-year high, a sign the real-estate market will take time to accelerate.
CNN Money | 32 days of higher gas prices comes at tough time
Gas prices have risen for 32 days straight, according to AAA. That means that the average price for a gallon of regular unleaded gasoline has increased more than 13% over that period to $3.73.
Bloomberg | German Investor Confidence Surges to Three-Year High: Economy
German investor confidence jumped more than economists forecast in February to the highest in almost three years, adding to signs that Europe’s largest economy is rebounding from its slump.
Market Watch | Goldman: Recession risks looks much lower now
Downside risks to the U.S. economy have diminished in recent months, with data points providing some bright spots and reducing the possibility that the economy will slip into a renewed recession, Goldman Sachs' top economist Jan Hatzius said in a note dated February 17.
Bloomberg | Energy Future Reports $1.95 Billion Quarterly Loss
Energy Future Holdings Corp., the Texas power plant owner taken private in the biggest leveraged buyout in history, reported a $1.95 billion fourth-quarter loss as lower prices forced a writedown in the value of an electricity unit.
Washington Times | Foreclosure delays: D.C., Maryland keeping homes but losing value
For homeowners in Washington, D.C., Maryland and dozens of other jurisdictions, it’s getting harder and harder to lose a home to foreclosure — even if the owner has not made any mortgage payments.
CNN Money | The wealthy haven't recovered from the Great Recession (but they're doing way better than you)
The top 1% of America's earners saw their average income rise by 11% during the economic recovery, but hold the Dom Perignon.
Econ Comments & Analysis
Washington Times | More government control equals poorer nations
The United Kingdom, France and the United States do not have a credible plan to bring their deficits down to a level below realistic expected growth rates, which is what is needed to avoid a financial meltdown. The three governments have what they politely call a “moving target” for spending, deficits and economic growth. The moving target is one that never gets any closer.
Fortune | The U.S.'s $4.4 billion surplus with China
Halfway between Las Vegas and Los Angeles, the Tanger outlet mall appeared in the distance, its towering sign beckoning like an oasis. The people on our bus started to titter with excitement. I was sitting with 52 Chinese tourists, mostly elderly retirees from Shanghai, and very few of them spoke English. But as we pulled into the mall's parking lot, they leaned up against the windows and called out familiar words: "Polo! Tommy! Reebok!"
Washington Post | Janet Yellen explains our crummy recovery in three charts
Yellen’s core question is simple: “deeper recessions are usually followed by stronger-than-average recoveries.” But “this recovery has been significantly weaker than past experience would have predicted.” Why?
Washington Post | Growing wealthy on the farm
In addition to a great football game, this year’s Super Bowl audience witnessed a memorable paean to the hardworking American farmer: a Dodge commercial featuring the recorded gravelly tones of the late Paul Harvey. Farm-state politicians were quick to exploit it: Sen. Charles E. Grassley (R-Iowa) told reporters he “hope[s] the people of America will wake up and appreciate the family farmers of America.”
Blogs
FOX Business | Obama's Backwards Approach to the Middle Class
The problem with the media is that they get tired of stories and just want to move on. For example, take unemployment- the fact that this has been the worst recovery for jobs on record is something the media just can't get all that interested in.
Economist | A simple model of growth crises
Well, there are plenty of ways for an economy in China's position to fail. One, and this may be Mr Cowen's worry, is to squander resources needed to secure future growth. China, in other words, may be misdirecting investment in an effort to prop up growth, leading to a corresponding underinvestment in public goods needed to maintain future growth and development.
