News
CNN Money | Coal companies hit by oversupply, Obama
Coal company stocks have taken a hit lately, as a global oversupply and pending climate change rules from the Obama administration weigh on the sector.
Bloomberg | Tech Stocks Signaling Sustained U.S. Growth: EcoPulse
Shares of technology companies are rallying as investors see capital spending for their products strengthening along with the economy, consistent with the Federal Reserve’s latest growth forecasts.
CNN Money | Manhattan home prices rise amid few 'for sale' signs
A shortage of apartments for sale has caused Manhattan home prices to climb significantly over the past several months, according to reports from several big New York real estate brokers.
WSJ | A Revitalized Car Industry Cranks Up U.S. Exports
The U.S. auto industry, in tatters just four years ago, is emerging as an export powerhouse, driven by favorable exchange rates and labor costs in a trend experts say could drive business for many years.
Bloomberg | Orders to U.S. Factories Rose in May on Machinery, Computers
Orders placed with U.S. factories rose in May, reflecting broad-based gains that signal manufacturing is stabilizing.
Econ Comments & Analysis
USA Today | Haven't saved enough for retirement? What to do?
A new report paints a rather grim assessment of how prepared we are for retirement. "The Retirement Savings Crisis: Is it Worse Than We Think?" from the Washington, D.C.-based National Institute on Retirement Security, says the typical American family has only "a few thousand dollars" saved for retirement.
Washington Times | End food stamps, with a caveat
Congress is in an uproar over the Supplemental Nutrition Assistance Program (SNAP), commonly known as food stamps.
Washington Times | A tale of two economies
Chile and Ecuador provide an almost perfect test case of competing economic visions. Back in 1980, Ecuador had a slightly higher per capita income than Chile. In the past 33 years, Ecuador has increased its real per capita income a little more than threefold, but during the same period Chile has increased its per capita income more than sixfold.
WSJ | Big Data Hasn't Changed Everything
The more I hear the term "big data," the more suspicious I become. Not in an Edward Snowden, the evil government's spying on us sort of way. If the curious of Fort Meade, Md., the National Security Agency's home, wish to poke through my electronic sock drawers for signs of terror, they are more than welcome. Happy to do my bit for national security.
Blogs
Minyanville | Is Liquidity Drying Up for World Markets?
There's an interesting fundamental change that's been taking shape in the financial landscape recently. In the US, QE-Infinity is still flowing strong, despite talk of tapering. The Bank of Japan is also still fueling the liquidity picture. However, there are some other major players working at cross-currents to the Fed and BoJ's liquidity.
Tuesday, July 2, 2013
Health Care
News
WSJ | Long-Term-Care Insurance Gap Hits Seniors
The long-term-insurance industry now is shrinking, premiums are soaring and there is no fix in sight. At the same time, government safety-net programs, already under cost-cutting pressure, are bracing for demand from more of the 77 million aging baby boomers.
Econ Comments & Analysis
CRS | Discretionary Spending in the Patient Protection and Affordable Care Act (ACA)
The Patient Protection and Affordable Care Act (ACA) reauthorized funding for numerous existing discretionary grant programs and other activities. ACA also created multiple new discretionary grant programs and provided for each an authorization of appropriations.
Heritage Foundation | The Cost of Educating the Public on Obamacare
Open enrollment in Obamacare’s insurance exchanges is slated to begin in October, and the Administration is using extraordinary—and questionable—efforts to raise awareness among the public and facilitate enrollment for fear not enough people will sign up for coverage.
Blogs
Heritage Foundation | Obamacare’s ACO Conundrum
According to a Medicare spokesman, nine hospitals and health systems participating in the “Pioneer” accountable care organization (ACO) pilot may leave the program outright—and four more “may join other accountable care programs that carry less financial risk.”
WSJ | Long-Term-Care Insurance Gap Hits Seniors
The long-term-insurance industry now is shrinking, premiums are soaring and there is no fix in sight. At the same time, government safety-net programs, already under cost-cutting pressure, are bracing for demand from more of the 77 million aging baby boomers.
Econ Comments & Analysis
CRS | Discretionary Spending in the Patient Protection and Affordable Care Act (ACA)
The Patient Protection and Affordable Care Act (ACA) reauthorized funding for numerous existing discretionary grant programs and other activities. ACA also created multiple new discretionary grant programs and provided for each an authorization of appropriations.
Heritage Foundation | The Cost of Educating the Public on Obamacare
Open enrollment in Obamacare’s insurance exchanges is slated to begin in October, and the Administration is using extraordinary—and questionable—efforts to raise awareness among the public and facilitate enrollment for fear not enough people will sign up for coverage.
Blogs
Heritage Foundation | Obamacare’s ACO Conundrum
According to a Medicare spokesman, nine hospitals and health systems participating in the “Pioneer” accountable care organization (ACO) pilot may leave the program outright—and four more “may join other accountable care programs that carry less financial risk.”
Monetary
News
Market Watch | Fed to move forward with Basel III capital rules
The Federal Reserve on Tuesday was set to vote to approve a proposal to implement a global agreement on bank capital buffers known as Basel III, including a measure that would establish limits on a big bank's capital distributions and bonus payments if the institution doesn't have certain common equity buffers in place.
Bloomberg | How Fed’s 7% Jobless Avoids Deterring Bondholders Is Mystery
Unemployment will fall to about 7 percent in the fourth quarter, according to economists at five of the world’s largest banks, creating more confusion among investors about the Federal Reserve’s bond-buying plans.
Econ Comments & Analysis
WSJ | The Fed Should Start to 'Taper' Now
The Federal Reserve should begin now to end its program of long-term asset purchases. It should not wait for the improved labor market that it predicts will come later this year, an improvement that is unlikely to occur. Instead, the Fed should emphasize that the pace of quantitative easing must adjust to the likely effectiveness of the program itself, and to the costs and risks of continuing to buy large quantities of bonds.
AEI | QE undone
Quantitative easing can boost the stock market but not the real economy or even inflation.
Market Watch | Fed to move forward with Basel III capital rules
The Federal Reserve on Tuesday was set to vote to approve a proposal to implement a global agreement on bank capital buffers known as Basel III, including a measure that would establish limits on a big bank's capital distributions and bonus payments if the institution doesn't have certain common equity buffers in place.
Bloomberg | How Fed’s 7% Jobless Avoids Deterring Bondholders Is Mystery
Unemployment will fall to about 7 percent in the fourth quarter, according to economists at five of the world’s largest banks, creating more confusion among investors about the Federal Reserve’s bond-buying plans.
Econ Comments & Analysis
WSJ | The Fed Should Start to 'Taper' Now
The Federal Reserve should begin now to end its program of long-term asset purchases. It should not wait for the improved labor market that it predicts will come later this year, an improvement that is unlikely to occur. Instead, the Fed should emphasize that the pace of quantitative easing must adjust to the likely effectiveness of the program itself, and to the costs and risks of continuing to buy large quantities of bonds.
AEI | QE undone
Quantitative easing can boost the stock market but not the real economy or even inflation.
Taxes
News
CNN Money | GAO: U.S. corporations pay average effective tax rate of 12.6%
U.S. companies face the highest official corporate tax rate in the world. But there's a big difference between the rates set out by law and the cash that's actually collected.
CNN Money | GAO: U.S. corporations pay average effective tax rate of 12.6%
U.S. companies face the highest official corporate tax rate in the world. But there's a big difference between the rates set out by law and the cash that's actually collected.
Employment
Econ Comments & Analysis
Fortune | The Fed's magic jobs number
Ever since Ben Bernanke raised the possibility last month that the Federal Reserve would pull back on bond purchases as early as later this year, people have been wondering just how likely that is. The bond market seems to think it's pretty likely. A parade of Fed governors have been saying not so much.
Blogs
WSJ | Are Jobless Benefits Leading to Higher Unemployment?
Are extended unemployment benefits leading to higher rates of long-term unemployment? A new paper from the Federal Reserve Bank of Boston suggests the answer is “no”—or at least, “not much.”
Fortune | The Fed's magic jobs number
Ever since Ben Bernanke raised the possibility last month that the Federal Reserve would pull back on bond purchases as early as later this year, people have been wondering just how likely that is. The bond market seems to think it's pretty likely. A parade of Fed governors have been saying not so much.
Blogs
WSJ | Are Jobless Benefits Leading to Higher Unemployment?
Are extended unemployment benefits leading to higher rates of long-term unemployment? A new paper from the Federal Reserve Bank of Boston suggests the answer is “no”—or at least, “not much.”
Budget
Econ Comments & Analysis
WSJ | Washington's $279 Billion Fraud
If you think the federal student-loan program looks like a bad deal for taxpayers, imagine how it would look with honest accounting. And now you don't need to imagine thanks to a new report that's receiving far too little attention. Turns out that the official "savings" for taxpayers of $184 billion over the next decade really add up to $95 billion in losses.
WSJ | Washington's $279 Billion Fraud
If you think the federal student-loan program looks like a bad deal for taxpayers, imagine how it would look with honest accounting. And now you don't need to imagine thanks to a new report that's receiving far too little attention. Turns out that the official "savings" for taxpayers of $184 billion over the next decade really add up to $95 billion in losses.
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