News
Bloomberg | Service Industries in U.S. Grow at Fastest Pace in a Year
Service industries in the U.S. expanded in February at the fastest pace in a year as a recovery in housing rippled through the economy.
CNN Money | Why America's middle class is losing ground
When Debbie Bruister buys a gallon of milk at her local Kroger supermarket, she pays $3.69, up 70 cents from what she paid last year.
Bloomberg | Euro Exports Fell in Fourth Quarter as Slump Deepened: Economy
Euro-area exports fell in the fourth quarter for the first time in more than three years and investment declined as the sovereign debt crisis pushed the region deeper into a recession.
Bloomberg | Dow Climbs to Highest Level on Central Bank Optimism
The Dow Jones Industrial Average (INDU) climbed to a record, erasing losses from the financial crisis, as China vowed to maintain its growth target and investors bet central banks will continue stimulus measures.
Econ Comments & Analysis
Washington Times | Who regulates the regulators?
In Beltway terms, the Federal Communications Commission’s $350 million budget request for 2013 is practically a rounding error. Yet it costs the American people a lot more than that. In fact, it is the third-most-expensive federal agency, but thanks to a lack of transparency, very few people are aware of that fact.
Washington Post | The expensive Amtrak fantasy
There is something about Amtrak — perhaps the romance of railroads or the promise of relieving traffic congestion and economizing on oil and greenhouse-gas emissions — that causes otherwise sensible people to lose contact with reality. The reality is that Amtrak has been a waste of taxpayer money since its creation in 1970. It doesn’t significantly reduce congestion, fuel use or greenhouse gases.
WSJ | A Record Dow
One thing for sure, the stock market doesn't mind the federal budget sequester. The Dow Jones Industrial Average climbed to a new nominal record on Tuesday, rising by nearly 1% to hit 14253.77 and finishing for the day above its previous closing high in the faraway land of October 2007.
Politico | Financing for small businesses is fuel for economy
It’s a tried and true stump speech staple: “Small business is the engine of our economy.” Politicians on both sides of the aisle laud the virtues of entrepreneurial risk takers and hail their resilience as being what embodies the best of the American dream. Yet for all the complimentary rhetoric, there is still a woeful lack of action to protect and empower small-business initiatives for the real job creators in America.
WSJ | Help for Underwater Homes
The number of American homes that end up in foreclosure has started to decline, a welcome development that partly reflects an improving housing market.
Blogs
FOX Business | Even With The Sequester in Place, Feds Continue to Hire & Spend
"Deep concern." That's what President Obama said on Monday about his feelings towards the automatic federal spending cuts, which began to take place yesterday.
