News
CNN Money | Why Syria matters to oil markets
The possibility of these counties becoming engulfed in the war is remote, which is why U.S. oil prices rose only $5 a barrel following the news of an apparent chemical weapon attack. Call it the Syria risk premium. - See more at: http://economy.money.cnn.com/2013/09/05/why-syria-matters-to-oil-markets/?iid=SF_E_LN#sthash.ToHuYMmU.dpuf
FOX Business | Nations Turn Focus to Fixing Economies, Not Climate Change
The strongest scientific warning to date that global warming is man-made may have a muted impact when it is released later this month with many governments more focused on nursing weak economies than on fixing the planet.
CNN Money | Baby bust: U.S. births at record low
The U.S. fertility rate fell to another record low in 2012, with 63.0 births per 1,000 women ages 15 to 44 years old, according to the Centers for Disease Control and Prevention. That's down slightly from the previous low of 63.2 in 2011.
WSJ | Financial Crisis Anniversary: For Corporations and Investors, Debt Makes a Comeback
Looking back, J. Russell Porter said his company was "almost at death's door" when the U.S. economy hit bottom.
Econ Comments & Analysis
Real Clear Markets | Credit Is Plentiful In All the Wrong Places
In April 1998, Milton Friedman wrote an article for the Hoover Institution at Stanford pertaining to the inability of Japan to pull out of economic malaise. In fact, it was more than any garden-variety dysfunction, as the Asian flu pushed the economic sputtering in the world's then-second largest economy into outright deflation.
Forbes | 40 Years Later, Index Funds Remain The Best Wealth Management Choice For All Investors
This Wednesday marked the 40th anniversary of a new approach to securities investing, the index fund. At the time, the idea was revolutionary.
Blogs
Economist | Why did The Economist favour free trade?
In nineteenth century Europe and America, debates over whether tariffs or free trade produced the most economic growth dominated the political scene.
WSJ | Early Look: Chinese Economy Likely Had a Good August
Economists’ forecasts and early data releases suggest China’s economy kept its momentum in August, after a series of positive surprises in July.
Friday, September 6, 2013
Health Care
News
National Journal | Relax, Republicans, Obamacare's Sherpas Pose No Threat
The latest front in the GOP assault against the president’s health care initiative involves so-called navigators who will help consumers find health insurance. But their concerns about privacy are overblown.
Econ Comments & Analysis
WSJ | Navigating ObamaCare Outrage
With ObamaCare scheduled to launch on October 1, Democrats seem more than a little anxious about their ability to execute. That's the only fathomable explanation for their nervous breakdown over a routine House inquiry.
NBER | Perverse Reverse Price Competition: Average Wholesale Prices and Medicaid Pharmaceutical Spending
Generic drugs comprise an increasing share of total prescriptions dispensed in the U.S., rising from nearly 50 percent in 1999 to 75 percent in 2009.
National Journal | Relax, Republicans, Obamacare's Sherpas Pose No Threat
The latest front in the GOP assault against the president’s health care initiative involves so-called navigators who will help consumers find health insurance. But their concerns about privacy are overblown.
Econ Comments & Analysis
WSJ | Navigating ObamaCare Outrage
With ObamaCare scheduled to launch on October 1, Democrats seem more than a little anxious about their ability to execute. That's the only fathomable explanation for their nervous breakdown over a routine House inquiry.
NBER | Perverse Reverse Price Competition: Average Wholesale Prices and Medicaid Pharmaceutical Spending
Generic drugs comprise an increasing share of total prescriptions dispensed in the U.S., rising from nearly 50 percent in 1999 to 75 percent in 2009.
Monetary
Econ Comments & Analysis
WSJ | World Bank to Set Up Global Infrastructure Facility
The World Bank is setting up a global infrastructure facility aimed at channeling funds from member nations and the private sector into projects it hopes will boost jobs and growth in developing countries at a time when their borrowing costs are rising.
Bloomberg | Fed’s Evans Wants to See Inflation Quicken Before QE Taper
Federal Reserve Bank of Chicago President Charles Evans, who has consistently supported record stimulus, said the Fed shouldn’t taper its $85 billion in monthly bond buying until inflation and economic growth pick up.
WSJ | World Bank to Set Up Global Infrastructure Facility
The World Bank is setting up a global infrastructure facility aimed at channeling funds from member nations and the private sector into projects it hopes will boost jobs and growth in developing countries at a time when their borrowing costs are rising.
Bloomberg | Fed’s Evans Wants to See Inflation Quicken Before QE Taper
Federal Reserve Bank of Chicago President Charles Evans, who has consistently supported record stimulus, said the Fed shouldn’t taper its $85 billion in monthly bond buying until inflation and economic growth pick up.
Taxes
Econ Comments & Analysis
NY Times | Plan at G-20 Is to Tighten Global Rules on Taxes
Many of the leaders of the world’s richest economies are convening at the eighth Group of 20 summit meeting in St. Petersburg, Russia, with the economic winds at their back, ready to sign on to a sweeping new set of tax rules for multinational corporations.
CRS | Energy Tax Policy: Issues in the 113th Congress
The scheduled expiration of a number of energy tax incentives means energy tax policy will likely be considered by the 113th Congress. Under current law, for example, renewable energy projects that begin construction after the end of 2013 will not qualify for the renewable energy production tax credit (PTC).
NY Times | Plan at G-20 Is to Tighten Global Rules on Taxes
Many of the leaders of the world’s richest economies are convening at the eighth Group of 20 summit meeting in St. Petersburg, Russia, with the economic winds at their back, ready to sign on to a sweeping new set of tax rules for multinational corporations.
CRS | Energy Tax Policy: Issues in the 113th Congress
The scheduled expiration of a number of energy tax incentives means energy tax policy will likely be considered by the 113th Congress. Under current law, for example, renewable energy projects that begin construction after the end of 2013 will not qualify for the renewable energy production tax credit (PTC).
Employment
News
Bloomberg | Payrolls in U.S. Rise Less Than Forecast; Jobless 7.3%
Payrolls in the U.S. climbed less than projected in August and gains in the prior two months were revised down, indicating companies are being deliberate in their hiring as they wait for a pickup in demand. The unemployment rate unexpectedly fell as more people left the labor force.
Econ Comments & Analysis
Fiscal Times | 5 Reasons to Pore Over Friday’s Mega Jobs Report
The two headline numbers – unemployment rate and job gains – are treated as perpetual game changers for the economy and politics. Stock market traders nervously anticipate the report on the first Friday of every month, while journalists pore over the numbers, searching for a story. Last year, President Obama’s re-election chances even hinged at times, it seemed, on the monthly figures. - See more at: http://www.thefiscaltimes.com/Articles/2013/09/05/5-Reasons-to-Pore-Over-Fridays-Mega-Jobs-Report#sthash.ketP0Zkz.dpuf
Fortune | Energy's unexpected jobs boom
The rapid rise in shale gas and tight oil in the United States constitutes nothing less than a revolution in oil and natural gas. No longer can there be any doubt about the dramatic change in America's energy position. U.S. oil production is up 50% since 2008, when we were supposedly slated to run out of oil. Natural gas production has increased by 33% since 2005, and shale gas alone now constitutes about 45% of total natural gas production.
Mercatus | Worrisome Labor Participation Rate Underscores Job Market Concerns
Although the U.S. unemployment rate fell slightly to 7.3 percent in the month of August, the decline was the result of fewer people actively looking for work, according to new data from the Bureau of Labor Statistics. Mercatus Center senior research fellow Keith Hall, a former commissioner of the BLS, says that today's report raises a number of concerns about the health of the job market.
Heritage Foundation | Not Looking for Work: Why Labor Force Participation Has Fallen During the Recession
The American economy is experiencing the slowest recovery in 70 years. In addition to persistently high unemployment, labor force participation has fallen sharply since the recession began in December 2007.
Blogs
WSJ | Unemployment Rate Drops for Wrong Reasons
The U.S. unemployment rate dropped 0.1 percentage point to 7.3% in August and a broader measure of unemployment fell to 13.7% from 14%, but the declines came from the wrong reasons.
WSJ | Five Takeaways From August Jobs Report
Bad news all around. There’s no way to sugarcoat it: This was a lousy jobs report. Taken on its own, 169,000 jobs isn’t terrible—ever-so-slightly worse than expectations, and a bit slower than the average pace over the past year. But don’t let the headline fool you.
Bloomberg | Payrolls in U.S. Rise Less Than Forecast; Jobless 7.3%
Payrolls in the U.S. climbed less than projected in August and gains in the prior two months were revised down, indicating companies are being deliberate in their hiring as they wait for a pickup in demand. The unemployment rate unexpectedly fell as more people left the labor force.
Econ Comments & Analysis
Fiscal Times | 5 Reasons to Pore Over Friday’s Mega Jobs Report
The two headline numbers – unemployment rate and job gains – are treated as perpetual game changers for the economy and politics. Stock market traders nervously anticipate the report on the first Friday of every month, while journalists pore over the numbers, searching for a story. Last year, President Obama’s re-election chances even hinged at times, it seemed, on the monthly figures. - See more at: http://www.thefiscaltimes.com/Articles/2013/09/05/5-Reasons-to-Pore-Over-Fridays-Mega-Jobs-Report#sthash.ketP0Zkz.dpuf
Fortune | Energy's unexpected jobs boom
The rapid rise in shale gas and tight oil in the United States constitutes nothing less than a revolution in oil and natural gas. No longer can there be any doubt about the dramatic change in America's energy position. U.S. oil production is up 50% since 2008, when we were supposedly slated to run out of oil. Natural gas production has increased by 33% since 2005, and shale gas alone now constitutes about 45% of total natural gas production.
Mercatus | Worrisome Labor Participation Rate Underscores Job Market Concerns
Although the U.S. unemployment rate fell slightly to 7.3 percent in the month of August, the decline was the result of fewer people actively looking for work, according to new data from the Bureau of Labor Statistics. Mercatus Center senior research fellow Keith Hall, a former commissioner of the BLS, says that today's report raises a number of concerns about the health of the job market.
Heritage Foundation | Not Looking for Work: Why Labor Force Participation Has Fallen During the Recession
The American economy is experiencing the slowest recovery in 70 years. In addition to persistently high unemployment, labor force participation has fallen sharply since the recession began in December 2007.
Blogs
WSJ | Unemployment Rate Drops for Wrong Reasons
The U.S. unemployment rate dropped 0.1 percentage point to 7.3% in August and a broader measure of unemployment fell to 13.7% from 14%, but the declines came from the wrong reasons.
WSJ | Five Takeaways From August Jobs Report
Bad news all around. There’s no way to sugarcoat it: This was a lousy jobs report. Taken on its own, 169,000 jobs isn’t terrible—ever-so-slightly worse than expectations, and a bit slower than the average pace over the past year. But don’t let the headline fool you.
Budget
News
CNN Money | America's first debt ceiling crisis
Can threats to block a debt ceiling increase ever be justified as a tool to force politicians to make difficult but necessary decisions?
CNBC | Debt talks could get ugly, but sequestration? No
However contentious and unproductive the upcoming debt ceiling negotiations might be, we can be virtually assured there will be no sequestration sequel.
Econ Comments & Analysis
Washington Times | Distraction from the debt
Congress comes back on Monday, and all eyes will be on the members and whether they will support the president on Syria. The momentous foreign-policy question diverts attention from the equally pressing concern of what to do about the nation’s $16.7 trillion debt.
Blogs
CATO | U.S. Government Spending, 1970-2013
Downsizing Government has a new tool allowing readers to chart spending for more than 500 federal agencies with the click of a mouse. It’s pretty cool. Hopefully it will help citizens, reporters, and policymakers understand how the budget has grown to a colossal $3.5 trillion a year.
CNN Money | America's first debt ceiling crisis
Can threats to block a debt ceiling increase ever be justified as a tool to force politicians to make difficult but necessary decisions?
CNBC | Debt talks could get ugly, but sequestration? No
However contentious and unproductive the upcoming debt ceiling negotiations might be, we can be virtually assured there will be no sequestration sequel.
Econ Comments & Analysis
Washington Times | Distraction from the debt
Congress comes back on Monday, and all eyes will be on the members and whether they will support the president on Syria. The momentous foreign-policy question diverts attention from the equally pressing concern of what to do about the nation’s $16.7 trillion debt.
Blogs
CATO | U.S. Government Spending, 1970-2013
Downsizing Government has a new tool allowing readers to chart spending for more than 500 federal agencies with the click of a mouse. It’s pretty cool. Hopefully it will help citizens, reporters, and policymakers understand how the budget has grown to a colossal $3.5 trillion a year.
Subscribe to:
Posts (Atom)