News
Bloomberg | Manufacturing in New York Area Expands Less Than Forecast
Manufacturing (EMPRGBCI) in the New York region expanded less than forecast in September even as orders and shipments picked up, while factories’ outlooks improved.
CNBC | Thrifty habits seen dying hard even as economy lifts
Consumers are sticking to frugal shopping habits developed in the recession even as developed economies show signs of recovery, suggesting some behavior changes could be permanent, industry executives say.
CNN Money | Obama admits 95% of income gains gone to top 1%
President Obama has been loud and clear about his fight against income inequality, but he admitted that the rich have fared far better than the poor during his time in the White House.
FOX Business | Housing Market: 5 Years Later
It’s been five years since the financial system collapsed and the housing bubble burst, and it's been a long road to recovery. The housing market has only been on the mend over the last year, and according to experts, it still has some healing to do.
Bloomberg | Industrial Production in U.S. Rises by Most in Six Months
Industrial production rose in August by the most in six months, indicating U.S. manufacturing (IPMGCHNG) will contribute more to the expansion.
CNN Money | Your guide to a government shutdown
If Congress can't agree on at least a short-term funding bill that President Obama is willing to sign, many functions of the federal government -- but not all -- will be shut down indefinitely on Oct. 1.
Econ Comments & Analysis
Fortune | Don't bet on a European recovery yet
U.S. investors poured $65 billion into Europe during the first half of the year with the hope that the continent is poised to rebound. Is it?
Washington Post | Five years on, the financial crisis still confounds
Unhappy birthday. Five years since the collapse of Lehman Brothers, we still lack a true understanding of what caused the financial crisis and Great Recession. Oh, there are standard stories from left and right. Liberals blame a naive faith in free markets, deregulation and Wall Street greed. Conservatives slam government: lax monetary policy and ruinous home-lending by Fannie and Freddie.
Politico | America's patent problem
America’s patent system, when operating as intended, is the envy of the world. It fuels the technological advances that invigorate our economy, create jobs and benefit American consumers.
National Journal | Obama on the Economy 5 Years Later: 'We're Not Near Where We Need to Be'
Five years after the collapse of Lehman Brothers and the coming-out party for the Great Recession, the president says there's more he can do.
Blogs
Economist | The meaning of Lehman (take 1)
Five years ago the world was stumbling into a chasm. Of course the signal fact about the bankruptcy of Lehman Brothers and the financial and political chaos that followed was that it led to the most significant real-economy disaster of the postwar era. Panic on Wall Street was a wrenching spectacle.
CNBC | Remember 'Lehman Weekend': Don't let up on reforms
The "Lehman weekend" five years ago has taken on symbolic importance as the fulcrum of the financial crisis, but the roots of the crisis were broad and deep—planted in years of unconstrained excess on Wall Street and prolonged complacency in Washington and financial capitals worldwide.
Economist | Did living standards improve during the Industrial Revolution?
As we showed in a previous blog post, Europe went through a period of astonishing growth after about 1760. The level of income that Europe has today could not have been reached without the Industrial Revolution.
