News
Bloomberg | Consumer Confidence in U.S. Increases More Than Forecast
Confidence among U.S. consumers climbed in June to the highest level in more than five years, an indication spending will probably accelerate after cooling this quarter.
Politico | President Obama's energy push could loom large in 2014
The planned carbon emissions crackdown could make the president even more of an anchor on Democrats in deep-red states like West Virginia and Kentucky, where Senate candidates will have no choice but to distance themselves from unpopular policies pushed by the national party. And the new regulations pose a messaging challenge for vulnerable Democratic incumbents already facing competitive Senate races in other energy-rich states, including Alaska, North Carolina and Louisiana.
Bloomberg | Senators to Introduce Bill to End Fannie Mae, Freddie Mac
A bipartisan group of senators is planning to introduce a proposal today for replacing U.S.-owned mortgage financiers Fannie Mae and Freddie Mac (FMCC) with a newly created government reinsurer.
CNN Money | Home prices jump 12%, new home sales hit a five year high
The housing recovery continues to pick up steam, as home prices jumped in April, and new home sales hit a five year high in May.
Bloomberg | Orders for U.S. Durable Goods Rose More Than Forecast
Orders for U.S. durable goods rose more than forecast in May, reflecting broad-based gains that signal manufacturing is stabilizing.
Econ Comments & Analysis
Real Clear Markets | Relax, The Stock Market Correction Is Your Friend
It's long been a rule of thumb that the economy can't boom when oil is trading above $50 barrel. Conventional wisdom about the latter would be that high gasoline prices erase the diposable income of most consumers.
Investors | So Much For Obama 'Transparency' At CFPB
Governance: In breach of federal law, the "most open and transparent administration" has shut out industry and press from critical meetings crafting new federal financial rules.
Washington Times | A better war on poverty
President Lyndon B. Johnson declared a war on poverty in his 1964 State of the Union address, and Americans have been fighting a losing battle ever since. Fortunately, the broader conservative-libertarian movement has the ability, and the responsibility, to bring forward serious ideas to confront poverty. In fact, conservative causes, such as welfare reform, fiscal responsibility, free enterprise, and supporting local communities and faith-based organizations, have a long history of success.
Mercatus | Keep Up the Pressure to Save Social Security
As with last year, the Trustees continue to estimate that the combined retirement and disability Social Security Trust Funds will become exhausted in 2033, just 20 short years from now.
Blogs
WSJ | Foreigners Boosted U.S. Investments in First Quarter Amid Recovery
Foreign investors boosted their holdings in the U.S. in the first quarter as the American economic recovery lifted domestic markets.
Tuesday, June 25, 2013
Health Care
Econ Comments & Analysis
WSJ | Medicare by the Scary Numbers
Even before the latest Medicare trustees report came out at the end of May, the White House spin masters had already crafted a story to go with it. Medicare's finances have improved, we're being told. The trust fund will last longer. The unfunded liability is lower. One of the reasons is said to be ObamaCare.
Washington Times | When medical secrets become public
Think about the huge damage the IRS has already done to Mr. Obama’s conservative opponents with outrageously lawless tactics — delaying tax-exempt nonprofit status for years, intimidating them with threats of perjury, illegally demanding donor lists, and leaking those lists to liberal media are just a few.
WSJ | Medicare by the Scary Numbers
Even before the latest Medicare trustees report came out at the end of May, the White House spin masters had already crafted a story to go with it. Medicare's finances have improved, we're being told. The trust fund will last longer. The unfunded liability is lower. One of the reasons is said to be ObamaCare.
Washington Times | When medical secrets become public
Think about the huge damage the IRS has already done to Mr. Obama’s conservative opponents with outrageously lawless tactics — delaying tax-exempt nonprofit status for years, intimidating them with threats of perjury, illegally demanding donor lists, and leaking those lists to liberal media are just a few.
Monetary
News
Bloomberg | Coeure Says No Doubt ECB Loose Monetary Policy Exit Distant
European Central Bank Executive Board member Benoit Coeure said loose monetary policy and non-standard measures will remain as long as needed, as the euro area struggles to emerge from its longest-ever recession.
Blogs
Economist | Whose low rates are these?
A long debate has been raging over the nature of low long-term interest rates. In one camp, there are those who say that low rates are mostly a result of the quantitative easing pursued by rich-world central banks. Purchases of assets from banks using newly created money artificially raise bond prices, in this view, thereby holding down interest rates. In the other camp are those who argue that low rates are mostly a result of broader economic forces.
Telegraph | The Bernanke Fed is playing with deflationary fire
I hope the Fed knows what it is doing. It has chosen to tighten monetary policy even though core PCE inflation is actually lower right now than it was when the Fed previously thought it dangerous enough to launch further QE. America is one shock away from a slide into outright deflation, and the eurozone is half a shock away.
Bloomberg | Coeure Says No Doubt ECB Loose Monetary Policy Exit Distant
European Central Bank Executive Board member Benoit Coeure said loose monetary policy and non-standard measures will remain as long as needed, as the euro area struggles to emerge from its longest-ever recession.
Blogs
Economist | Whose low rates are these?
A long debate has been raging over the nature of low long-term interest rates. In one camp, there are those who say that low rates are mostly a result of the quantitative easing pursued by rich-world central banks. Purchases of assets from banks using newly created money artificially raise bond prices, in this view, thereby holding down interest rates. In the other camp are those who argue that low rates are mostly a result of broader economic forces.
Telegraph | The Bernanke Fed is playing with deflationary fire
I hope the Fed knows what it is doing. It has chosen to tighten monetary policy even though core PCE inflation is actually lower right now than it was when the Fed previously thought it dangerous enough to launch further QE. America is one shock away from a slide into outright deflation, and the eurozone is half a shock away.
Taxes
News
CNN Money | States with sweetest corporate tax breaks
States looking to gin up jobs frequently offer sweet tax breaks to lure in new companies or keep businesses from bolting out of state.
Econ Comments & Analysis
Washington Times | New taxes penalize gun owners, threaten Second Amendment
Liberals are trying every tool at their disposal this year to go after guns. They have failed on Capitol Hill to restrict the Second Amendment, so they are moving through the states to enact their agenda.
Blogs
Library of Economics | Atkinson and Krugman on Tax Rates
On May 20, British economist Anthony Atkinson and Paul Krugman had a long discussion about inequality and income tax rates. Atkinson thought the top income tax rate should be 60% and Krugman thought it should be 73%. Apparently, the City University of New York wanted a wide range of views.
CNN Money | States with sweetest corporate tax breaks
States looking to gin up jobs frequently offer sweet tax breaks to lure in new companies or keep businesses from bolting out of state.
Econ Comments & Analysis
Washington Times | New taxes penalize gun owners, threaten Second Amendment
Liberals are trying every tool at their disposal this year to go after guns. They have failed on Capitol Hill to restrict the Second Amendment, so they are moving through the states to enact their agenda.
Blogs
Library of Economics | Atkinson and Krugman on Tax Rates
On May 20, British economist Anthony Atkinson and Paul Krugman had a long discussion about inequality and income tax rates. Atkinson thought the top income tax rate should be 60% and Krugman thought it should be 73%. Apparently, the City University of New York wanted a wide range of views.
Employment
News
WSJ | Some Unemployed Keep Losing Ground
Nearly 12 million Americans were unemployed in May, down from a peak of more than 15 million, but still more than four million higher than when the recession began in December 2007. Millions more have given up looking for work and no longer count as unemployed. The share of the population that is working or looking for work stands near a three-decade low.
CNBC | Americans Hate Their Jobs, Even With Office Perks
If you hate your job, you're not alone. But having in-office access to catered meals, a pingpong table or free massages may not make you any happier at work.
WSJ | Some Unemployed Keep Losing Ground
Nearly 12 million Americans were unemployed in May, down from a peak of more than 15 million, but still more than four million higher than when the recession began in December 2007. Millions more have given up looking for work and no longer count as unemployed. The share of the population that is working or looking for work stands near a three-decade low.
CNBC | Americans Hate Their Jobs, Even With Office Perks
If you hate your job, you're not alone. But having in-office access to catered meals, a pingpong table or free massages may not make you any happier at work.
Budget
News
CNN Money | Deadline nears for higher student loan rates
It's crunch time for students who rely on subsidized government loans -- interest rates on them double to 6.8% on July 1.
Econ Comments & Analysis
WSJ | China's Credit Crunch
Over the past two weeks China's interbank lending rates have spiked, bond auctions have failed and one large bank briefly defaulted. The Shanghai stock market fell 5.3% Monday, on top of big losses last week. This is all evidence that China's leaders have decided to call time on one of the greatest credit expansions in history.
Washington Times | No reason for a victory lap over the debt
“After two years of harrowing confrontations in Washington,” begins a recent article in the Washington Post, “the national debt is no longer growing out of control and policymakers from President Barack Obama to House Speaker John Boehner, R-Ohio, have rushed to take credit.”
Mercatus | CBO Scoring of Farm Bills vs Actual Costs
Despite the recent defeat of the farm bill in the House, it is worth keeping in mind that when proposed in Congress, the 2013 farm bills cost nearly $1 trillion over ten years yet were touted by legislators as a way to save taxpayers money.
CNN Money | Deadline nears for higher student loan rates
It's crunch time for students who rely on subsidized government loans -- interest rates on them double to 6.8% on July 1.
Econ Comments & Analysis
WSJ | China's Credit Crunch
Over the past two weeks China's interbank lending rates have spiked, bond auctions have failed and one large bank briefly defaulted. The Shanghai stock market fell 5.3% Monday, on top of big losses last week. This is all evidence that China's leaders have decided to call time on one of the greatest credit expansions in history.
Washington Times | No reason for a victory lap over the debt
“After two years of harrowing confrontations in Washington,” begins a recent article in the Washington Post, “the national debt is no longer growing out of control and policymakers from President Barack Obama to House Speaker John Boehner, R-Ohio, have rushed to take credit.”
Mercatus | CBO Scoring of Farm Bills vs Actual Costs
Despite the recent defeat of the farm bill in the House, it is worth keeping in mind that when proposed in Congress, the 2013 farm bills cost nearly $1 trillion over ten years yet were touted by legislators as a way to save taxpayers money.
Subscribe to:
Posts (Atom)