News
Bloomberg | Foreclosed Sales at U.S. Auctions Double as Prices Gain
Purchases of foreclosed homes at auctions jumped last month as banks benefited from surging prices and shunned approvals of sales by homeowners dumping their dwellings at a loss.
CNN Money | 1 in 6 unemployed are substance abusers
About 1 in 6 unemployed workers are addicted to alcohol or drugs -- almost twice the rate for full-time workers, according to the government's National Survey on Drug Use and Health.
Bloomberg | Home Prices in 20 U.S. Cities Rise Most Since February 2006
Home prices in 20 U.S. cities rose by the most since February 2006 in the 12 months through September, showing the housing market sustained progress even as borrowing costs climbed.
FOX Business | Consumer Confidence Falls in November
U.S. consumer confidence fell in November as Americans worried about their future jobs and earnings prospects, according to a private sector report released on Tuesday.
Bloomberg | Building Permits in U.S. Jump to Five-Year High
More applications for home construction were issued in October than at any time in the past five years, a sign the U.S. residential real-estate market is gaining momentum heading into 2014.
Blogs
Market Watch | Democrats lose 2014 edge after Obamacare uproar
A new CNN/ORC International poll spells trouble for congressional Democrats. A month ago, they held a 50%-42% advantage among registered voters in a generic ballot asking respondents to choose a Democrat or Republican for their district. The new poll, following the botched rollout of HealthCare.gov and controversy over canceled insurance policies, shows Republicans with a 49%-47% edge.
Economist | A Keynes for all seasons
In the years since the publication in 1936 of "The General Theory of Employment, Interest and Money", John Maynard Keynes’s name has been irretrievably linked to the idea that fiscal stimulus should be used to combat recession during downturns. Such ideas came to dominate economics in the 30 years after the second world war, so much so that Republican president Richard Nixon declared in 1971 that “we are all Keynesians now”.
WSJ | New Service-Sector Index Shows November Bounce Back
The private-service sector may make up more than half of U.S. gross domestic product, but it accounts for almost nothing as a share of economic data.
