News
Bloomberg | Bank of America Finds Profit in Foreign Tax Credit Moves
What the bank calls “restructuring” of its non-U.S. operations yielded $1.7 billion in foreign tax credits, or 41 percent of the $4.2 billion the company reported in 2012 earnings, according to securities documents including the form 10-K it filed Feb. 28.
CNN Money | U.S. manufacturing growth slows in March
U.S. manufacturing activity continued to expand in March, but the rate of growth slowed, according to a report released Monday.
Bloomberg | U.S. Factories’ February Orders Rise on Car, Plane Demand
Orders placed with U.S. factories increased in February, boosted by a pickup in demand for motor vehicles and commercial aircraft.
WSJ | U.S. Factories Continue Uneven Growth
The manufacturing sector continued its fragmented growth in February as the volatile defense and aerospace industries drove an overall gain despite slowdowns or weak improvements in several other categories.
Bloomberg | U.S. Credit Jobs Rise Along with Borrowing: EcoPulse
Credit-market borrowing in all domestic nonfinancial sectors grew at a seasonally-adjusted annual rate of $2.5 trillion in the three months ended Dec. 31, 2012, the biggest rise in five years, according to data in the Federal Reserve’s Flow of Funds Report.
Econ Comments & Analysis
WSJ | Wind-Power Subsidies? No Thanks.
The sequester has led to dire warnings from many camps, including advocates of clean energy, who argue that Washington's modest cuts could derail America's green future. But from my vantage as a CEO in the wind-power business, the sequester offers Washington a rare opportunity to roll back misguided subsidies and maybe help reverse wind power's stalling momentum.
Mercatus | Participation in Major Antipoverty Programs Since the Financial Crisis
The United States officially exited recession in June 2009, but spending on and participation in programs designed to help the nation’s poorest families continues to swell.
Blogs
Economist | Too thin a cushion
Americans probably aren’t saving enough. Savings come in handy in many circumstances: when buying a home, paying for a child’s education, retiring, or in cases of unexpected need. Yet despite aging populations and rising educational costs, America's savings rate has been falling.
Library of Economics | Crazy Equilibria: From Democracy to Anarcho-Capitalism
Imagine advocating democracy a thousand years ago. You sketch your basic idea: "Every few years we'll have a free election. Anyone who wants power can run for office, every adult gets a vote, and whoever gets the most votes runs the government until the next election." How would your contemporaries react?
