News
FOX News | Economic well-being of American children slips, report says
It wasn't so long ago that David Hutchinson spent a month sleeping under a bridge while his wife and young daughter spent their nights at a domestic violence shelter.
WSJ | U.S. Overtakes China
For the first time since 2001, the U.S. knocked China out of first place in an annual survey of executives rating favorable places for foreign direct investment.
Econ Comments & Analysis
Politico | Facing the truth about entitlements
Our looming entitlement crisis is a complex problem. But it hinges on a very simple choice. We can choose to face the facts — and act on them — or we can choose to face the consequences.
WSJ | The Carbonated President
Mr. Obama's "climate action plan" adds up to one of the most extensive reorganizations of the U.S. economy since the 1930s, imposed through administrative fiat and raw executive power.
WSJ | How Emerging Markets Lost Their Mojo
Emerging economies have lost nearly $2 trillion in stock-market value since the global financial crisis hit in late 2007. The full blame for this meltdown, and then some, can be placed at the door of their state-owned companies, which account for a third of these economies' roughly $9 trillion market capitalization.
Fortune | Building the indestructible metropolis
New York City's plan to bolster its infrastructure to deal with climate change is only the beginning of a long struggle to fortify cities around the world.
Market Watch | Holding bonds today is a disaster in the making
Allocating a significant portion of your assets to bonds, particularly U.S. Treasurys, and other stable income-based assets is one of the cornerstones of modern investing and portfolio practices.
NBER | How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size
There remains considerable debate in both the theoretical and empirical literature about the differences in the cyclical dynamics of firms by firm size.
Blogs
Market Watch | Think 7% growth in China is slow? Try 6%, says Credit Suisse
Credit Suisse has put out a downbeat view of the Chinese economy that stands out even amid the ongoing stampede of China bears.
WSJ | Expect Cheaper Electric Bills This Summer
Americans’ electric bills are expected to shrink this summer, putting a few extra bucks in their pockets as they beat the heat.
Wednesday, June 26, 2013
Health Care
Blogs
Heritage Foundation | Obamacare’s Shortcomings in Two Charts
Obamacare continues to fall short of the lofty predictions about it — and here are two new charts to prove it.
Heritage Foundation | Obamacare’s Shortcomings in Two Charts
Obamacare continues to fall short of the lofty predictions about it — and here are two new charts to prove it.
Monetary
News
Bloomberg | Draghi Says ECB Ready to Act, Urges Investment Before Taxes
European Central Bank President Mario Draghi said policy makers stand ready to act to support economic growth in the euro area, while calling on national governments to curb tax increases and prioritize investment.
Econ Comments & Analysis
AEI | Taming the megabanks
The gravest of the many problems with Dodd-Frank is that the law is based in a fundamental misunderstanding of how and why the megabanks it seeks to tame grew so large and complex in the first place. That growth was caused not by an unregulated market spun out of control, but by a set of disastrous federal policies.
Bloomberg | Bernanke Is Better Than His Critics at Balancing Risks
The markets’ reaction to the Federal Reserve’s latest policy announcement isn’t what Chairman Ben S. Bernanke wanted: Long-term interest rates have gone up. That’s a problem because the recovery is still tepid.
Fortune | Fed's Bernanke talk tab: $151 billion and counting
Holding $3.3 trillion in bonds when debt prices are falling might end up costing taxpayers money, or, then again, maybe not.
AEI | Troubling taper talk from central banks
With the way central bankers have been behaving over the past month, you would think global inflation is picking up, economies are booming, and financial bubbles are inflating further. Nothing could be further from the truth.
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.
Bloomberg | Draghi Says ECB Ready to Act, Urges Investment Before Taxes
European Central Bank President Mario Draghi said policy makers stand ready to act to support economic growth in the euro area, while calling on national governments to curb tax increases and prioritize investment.
Econ Comments & Analysis
AEI | Taming the megabanks
The gravest of the many problems with Dodd-Frank is that the law is based in a fundamental misunderstanding of how and why the megabanks it seeks to tame grew so large and complex in the first place. That growth was caused not by an unregulated market spun out of control, but by a set of disastrous federal policies.
Bloomberg | Bernanke Is Better Than His Critics at Balancing Risks
The markets’ reaction to the Federal Reserve’s latest policy announcement isn’t what Chairman Ben S. Bernanke wanted: Long-term interest rates have gone up. That’s a problem because the recovery is still tepid.
Fortune | Fed's Bernanke talk tab: $151 billion and counting
Holding $3.3 trillion in bonds when debt prices are falling might end up costing taxpayers money, or, then again, maybe not.
AEI | Troubling taper talk from central banks
With the way central bankers have been behaving over the past month, you would think global inflation is picking up, economies are booming, and financial bubbles are inflating further. Nothing could be further from the truth.
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.
Taxes
News
National Journal | New IRS plan: Let Some Groups Give Themselves Tax-Exempt Status
The Obama administration is trying to seize control of the story about the Internal Revenue Service's mismanagement and blundering by releasing a lengthy 60-page report on Monday about the changes it has since made at the agency.
National Journal | New IRS plan: Let Some Groups Give Themselves Tax-Exempt Status
The Obama administration is trying to seize control of the story about the Internal Revenue Service's mismanagement and blundering by releasing a lengthy 60-page report on Monday about the changes it has since made at the agency.
Employment
News
Bloomberg | Kocherlakota Sees Unemployment Above 7% Until Second Half 2014
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, who doesn’t vote on monetary policy this year, said he favors continuing bond purchases until unemployment falls below 7 percent, which he doesn’t expect until the second half of next year.
Econ Comments & Analysis
Real Clear Markets | We Ignore Joblessness Among the Elderly at Our Peril
The Great Recession's employment crisis is notable for two reasons. First, the number of long-term unemployed has been much higher than in prior recessions. The percent of unemployed who have been out of work for 27 weeks or longer has been above 40 percent since December 2009, far higher than the previous peak of 26 percent in 1983. Second, those over the age of 55 were particularly hard hit by unemployment.
Bloomberg | Kocherlakota Sees Unemployment Above 7% Until Second Half 2014
Federal Reserve Bank of Minneapolis President Narayana Kocherlakota, who doesn’t vote on monetary policy this year, said he favors continuing bond purchases until unemployment falls below 7 percent, which he doesn’t expect until the second half of next year.
Econ Comments & Analysis
Real Clear Markets | We Ignore Joblessness Among the Elderly at Our Peril
The Great Recession's employment crisis is notable for two reasons. First, the number of long-term unemployed has been much higher than in prior recessions. The percent of unemployed who have been out of work for 27 weeks or longer has been above 40 percent since December 2009, far higher than the previous peak of 26 percent in 1983. Second, those over the age of 55 were particularly hard hit by unemployment.
Budget
News
Politico | House, Senate go in different directions on appropriations
With no budget talks under way, the Senate and House continue to roll out wildly different spending bills — highlighted this week by back-to-back markups of appropriations for energy, water, transportation and housing programs.
WSJ | Student-Loan Rates Appear Set to Double
Interest rates on some new federal student loans appear increasingly likely to double next week, according to senators who say their chamber remains divided over how to prevent the jump before the July 1 deadline.
Econ Comments & Analysis
Fortune | Sequester shmester? The worst is yet to come.
Just when you thought you'd heard enough about Congressional budget woes, federal employee furloughs -- the biggest spending cuts of the Sequester -- are due to kick in next week and will delay economic growth.
Blogs
Heritage Foundation | Cut Government Spending to Help the Economy? Majority Say Yes
Four years after the official end of the recession in June 2009, the economy is growing sluggishly. As The Wall Street Journal reports today, the economy lately has grown at about 2.2 percent annually—one-third slower than the 3.3 percent average rate in past decades.
Politico | House, Senate go in different directions on appropriations
With no budget talks under way, the Senate and House continue to roll out wildly different spending bills — highlighted this week by back-to-back markups of appropriations for energy, water, transportation and housing programs.
WSJ | Student-Loan Rates Appear Set to Double
Interest rates on some new federal student loans appear increasingly likely to double next week, according to senators who say their chamber remains divided over how to prevent the jump before the July 1 deadline.
Econ Comments & Analysis
Fortune | Sequester shmester? The worst is yet to come.
Just when you thought you'd heard enough about Congressional budget woes, federal employee furloughs -- the biggest spending cuts of the Sequester -- are due to kick in next week and will delay economic growth.
Blogs
Heritage Foundation | Cut Government Spending to Help the Economy? Majority Say Yes
Four years after the official end of the recession in June 2009, the economy is growing sluggishly. As The Wall Street Journal reports today, the economy lately has grown at about 2.2 percent annually—one-third slower than the 3.3 percent average rate in past decades.
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