News
CNN Money | JPMorgan can deduct big chunk of $13 billion deal
The majority of the $13 billion settlement JPMorgan struck with the government Tuesday is likely to be tax deductible, reducing the bank's financial hit.
Bloomberg | Retail Sales in U.S. Increased More Than Forecast in October
Retail sales in the U.S. rose more than forecast in October, a sign that consumer spending was resilient even during the government shutdown.
Econ Comments & Analysis
Washington Times | Forget party loyalties, let’s save America
When I was a teenager, we loved to play baseball, and in my neighborhood there were two teams. Both of them were quite good, but they were bitter rivals. It was not uncommon for fights to break out when they played each other.
Forbes | Americans Are Living Better Then They Have At Any Point In Human History
Hans Riegel recently died at age 90. He was not a household name, even in his home country of Germany. But he changed the world for the better. He brought us gummi bears.
Real Clear Markets | The FHA Is a Predatory Lender
According to the FDIC's Inspector General: "Predatory lending typically involves imposing unfair and abusive loan terms on borrowers, often through aggressive sales tactics; taking advantage of borrowers' lack of understanding of complicated transactions; and outright deception."
Mercatus | Regulating Automobiles: The Consequences for Consumers
A popular argument for regulation holds that leaving consumers and manufacturers to their own devices would lead to undesirable outcomes.
NBER | Wait-and-See: Investment Options under Policy Uncertainty
This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces the firm to temporarily stop investing—to adopt a wait-and-see policy. After the uncertainty is resolved, the firm exploits the tabled projects, generating a temporary investment boom.
Blogs
Fortune | What Obama's crashing poll numbers really mean
For five years, the American people have given the President the benefit of the doubt on the economy. But the bungled launch of Obamacare has burst the goodwill bubble. He may not get a do-over.
Library of Economics | The Economic Illiteracy of High School History
In 11th grade, I took Advanced Placement U.S. History. I enjoyed it at the time. Once I started studying economics, however, I was outraged by the economic illiteracy of my history textbooks.
Coordination Problem | The Daunting Problem of Economic Reform
Last week Paul Krugman told the world about a plot against France, as Standard and Poor’s downgraded the country’s bond rating to AA+. Bearing in mind that the public debt of most major Western countries will never be repaid, what agencies look at is the extent to which countries can service their debt.
