News
CNN Money | Homebuyers clueless about mortgages
The housing market is heating up, yet many house hunters are not prepared to take on the biggest purchases of their lives.
Market Watch | Too-big-to-fail rules need work: Fed's Plosser
Current rules about handling troubled too-big-to-fail financial institutions are insufficient, with too much discretion in the hands of regulators and more standardization needed in the case of bankruptcy, Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said Thursday at a conference in New York
CNN Money | Student debt delays spending, saving - and marriage
Piles of student loan debt are leading some borrowers to put off saving for retirement, buy a home and even get married -- and now many regret taking out the loans in the first place.
Fortune | U.S. citizens ditch passports in record numbers
If the recent quarter's pace continues, 2013 will become a landmark year for saying goodbye to America, tax-wise.
Washington Times | Bailed-out Fannie Mae to return $59 billion to taxpayers
Fannie Mae will return nearly $59 billion to taxpayers after experiencing its best-ever profits last quarter, the mortgage giant announced Thursday morning.
Econ Comments & Analysis
Market Watch | Lacker: Living wills best alternative to bailouts
In a speech to the Council on Foreign Relations in New York, Richmond Fed President Jeffrey Lacker said ending "too big to fail" perceptions will be tough but the best way is to require firms to establish "living wills" that would facilitate rapid and orderly resolution and would not expose taxpayers to extraordinary financial support.
Washington Times | Keeping America afloat
The old saying “he who rules the seas rules the world” is still relevant today. National and global interests — for America, in particular — are inextricably linked to the seas. With oceans covering 70 percent of the Earth’s surface, they are just as important now as they were centuries ago when exploration and discovery were possible only by setting sail.
The Hill | Rejuvenate US growth with spending control
America faces an alarming growth gap — a gap between where our economy is in the present recovery compared with where our economy should be in an average recovery.
Real Clear Markets | Obama Now 'Owns' The U.S. Economy
President Obama's continued sequester attacks implicitly admit one thing: He now "owns" the economy. For four years, America's economic ennui was successfully attributed to his predecessor. Now beginning his second term, the "previous administration" is his own... and so is the economy that comes with it.
CBO | Macroeconomic Analysis of Legislative Proposals
As part of its budget resolution for fiscal year 2014, the Senate incorporated a “request for supplemental estimates” from CBO.
Blogs
WSJ | Why Were Young People Hit Harder by the Recession?
One of the biggest factors, a new paper suggests, is the larger mortgage debt young households under 45 had relative to their assets compared to older people in the run-up to the financial crisis — and the fact that much of their wealth came from owning homes.
Library of Economics | Happy Hayek Day: Is it Investment? Is it Consumption?
Measurement is obviously problematic. The BEA counts "education" as "consumption spending" (see Cowen & Tabarrok's macro principles book, p. 103), for example, and this is definitely true for some students and some degrees. If people are in school to acquire human capital, then schooling should probably be counted as investment.
