News
Bloomberg | Consumer Spending in U.S. Climbs 0.3% as Incomes Pick Up
Household purchases, which account for about 70 percent of the economy, climbed 0.3 percent after a revised 0.2 percent advance in July that was more than previously estimated.
FoxBusiness | Consumer Sentiment Falls to 5-Month Low
The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment slipped to 77.5 in September from 82.1 in August - the lowest final reading since April.
Bloomberg | Euro-Area Confidence Increases as Recovery Takes Hold
An index of executive and consumer sentiment rose for a fifth month to 96.9 from a revised 95.3 in August, the European Commission in Brussels said today. That beat the median estimate of 96 in a Bloomberg survey of 26 economists.
Econ Comments & Analysis
WSJ | Some Economic Data Face Budget Ax
Federal Agencies Move to Cut Scope of Reports Amid Budget Squeeze.
Bloomberg | Three Unlearned Lessons From the Financial Crisis
The financial crisis was devastating; we haven’t ended the problems associated with “too big to fail” financial institutions; and we must force the biggest banks to break up -- or risk dire consequences.
Blogs
The Economist | Did slavery make economic sense?
Of course any account of the economic effect of slavery should note the effect of treating human beings as capital equipment. The direct impact on the utility of the slaves themselves of this condition represented a terrible economic cost.
The Economist | Fiddling the data
Up until around 2004, the net global trade balance was negative. Some people put this down to underreporting of investment income. But since then, the global trade balance has been positive.
Friday, September 27, 2013
Health Care
News
CNN Money | Obamacare delay for small business exchanges
The latest victim of Obamacare delays: small business owners.
National Journal | Obamacare Won't Transform America—Yet
Right now, it doesn't look like the most dramatic overhaul ever. After a few years, though, that could change.
CNN Money | Will young people pay a lot more under Obamacare?
There are many assumptions about what the effects of Obamacare will be. This series aims to separate myths from realities and answer questions surrounding the Affordable Care Act.
Econ Comments & Analysis
Forbes | On October 1, Obamacare's Price Tag Will Surprise Americans
On October 1, the insurance exchanges will commence operations. These exchanges are supposed to be where people without insurance through an employer go to find health insurance.
Blogs
Heritage Foundation | 1,850,400 Minutes—and Yet Obamacare STILL Isn’t Working
The Administration has had nearly two million minutes to implement this law. It hasn’t worked—and it won’t work. The message is clear:
CNN Money | Obamacare delay for small business exchanges
The latest victim of Obamacare delays: small business owners.
National Journal | Obamacare Won't Transform America—Yet
Right now, it doesn't look like the most dramatic overhaul ever. After a few years, though, that could change.
CNN Money | Will young people pay a lot more under Obamacare?
There are many assumptions about what the effects of Obamacare will be. This series aims to separate myths from realities and answer questions surrounding the Affordable Care Act.
Econ Comments & Analysis
Forbes | On October 1, Obamacare's Price Tag Will Surprise Americans
On October 1, the insurance exchanges will commence operations. These exchanges are supposed to be where people without insurance through an employer go to find health insurance.
Blogs
Heritage Foundation | 1,850,400 Minutes—and Yet Obamacare STILL Isn’t Working
The Administration has had nearly two million minutes to implement this law. It hasn’t worked—and it won’t work. The message is clear:
Monetary
Econ Comments & Analysis
Market Watch | Fed's Rosengren criticizes SEC money-market rule
The agency should drop one of its proposals that would allow money market funds experiencing a surge of redemptions to impose fees on investors who seek to pull their capital out or allow the funds directors to temporarily block investor redemptions, he said.
"Bloomberg |
Where Is the Panic Over Deflation?"
The Bureau of Economic Analysis has revised its estimates for the personal consumption expenditures price index. It's an important number, because this is the index the Federal Reserve targets. And remember, it's aiming for inflation of 2 percent.
RCM | Orthodox Fed Approach to 'Deflation' Authors Our Woes
The idea and concept of inflation is relatively straightforward, but in practice it is an unmitigated mess.
Blogs
WSJ: Real Time Economics | Inflation Remains Far From Fed Target
Inflation in August remained far away from the Federal Reserve’s target, a factor that could make central bankers even more hesitant to pare back their support for the economy.
The Economist | Debt and demand
If you create higher inflation you don't need low real interest rates to solve the demand problem; it's already solved!
WSJ: Real Time Economics | Fed’s Evans Suggests Tapering Could Start Later Than October
Federal Reserve Bank of Chicago President Charles Evans said Friday that the U.S. central bank could start reducing its $85 billion-a-month bond-buying program at its October policy meeting, but it could happen later than that.
Market Watch | Fed's Rosengren criticizes SEC money-market rule
The agency should drop one of its proposals that would allow money market funds experiencing a surge of redemptions to impose fees on investors who seek to pull their capital out or allow the funds directors to temporarily block investor redemptions, he said.
"Bloomberg |
Where Is the Panic Over Deflation?"
The Bureau of Economic Analysis has revised its estimates for the personal consumption expenditures price index. It's an important number, because this is the index the Federal Reserve targets. And remember, it's aiming for inflation of 2 percent.
RCM | Orthodox Fed Approach to 'Deflation' Authors Our Woes
The idea and concept of inflation is relatively straightforward, but in practice it is an unmitigated mess.
Blogs
WSJ: Real Time Economics | Inflation Remains Far From Fed Target
Inflation in August remained far away from the Federal Reserve’s target, a factor that could make central bankers even more hesitant to pare back their support for the economy.
The Economist | Debt and demand
If you create higher inflation you don't need low real interest rates to solve the demand problem; it's already solved!
WSJ: Real Time Economics | Fed’s Evans Suggests Tapering Could Start Later Than October
Federal Reserve Bank of Chicago President Charles Evans said Friday that the U.S. central bank could start reducing its $85 billion-a-month bond-buying program at its October policy meeting, but it could happen later than that.
Taxes
News
Bloomberg | Spain Rules Out Tax Hikes to Meet 2014 Budget Goals
Spanish Budget Minister Cristobal Montoro ruled out further tax increases for next year, banking on a return to growth to trim the European Union’s widest deficit.
Bloomberg | Spain Rules Out Tax Hikes to Meet 2014 Budget Goals
Spanish Budget Minister Cristobal Montoro ruled out further tax increases for next year, banking on a return to growth to trim the European Union’s widest deficit.
Employment
News
CNN Money | Federal furlough notices in next 24-36 hours
Barring a sudden turn in stalemated budget talks, federal workers will begin to get verbal furlough notices in the next 24 to 36 hours, according to a top union official briefed by the White House budget office on Thursday.
WSJ | Job Market Embraces Massive Online Courses
Seeking Better-Trained Workers, AT&T, Google and Other Firms Help Design and Even Fund Web-Based College Classes.
CNN Money | Federal furlough notices in next 24-36 hours
Barring a sudden turn in stalemated budget talks, federal workers will begin to get verbal furlough notices in the next 24 to 36 hours, according to a top union official briefed by the White House budget office on Thursday.
WSJ | Job Market Embraces Massive Online Courses
Seeking Better-Trained Workers, AT&T, Google and Other Firms Help Design and Even Fund Web-Based College Classes.
Budget
News
Politico | Government shutdown: GOP leaders seeking support for debt ceiling hike
Top Republicans circled the House floor Thursday afternoon attempting to build support for the debt ceiling bill, the centerpiece of their fall fiscal strategy.
National Journal | Drama Intensifies Over Government Funding and Debt Ceiling on Both Sides of Capitol
A bicameral sparring match between Democratic and Republican leaders—as well as within the GOP conferences in both chambers—raged on Thursday over funding the government and paying its debts, with little prospect of a resolution before the weekend.
CNN Money | Debt ceiling cash crunch: Millions won't get paid
Some Republicans say that in that situation Treasury should prioritize who gets paid first. Their proposal: Pay bondholders and Social Security recipients first. Some GOP lawmakers add active-duty military to the list.
Politico | Government shutdown: GOP leaders seeking support for debt ceiling hike
Top Republicans circled the House floor Thursday afternoon attempting to build support for the debt ceiling bill, the centerpiece of their fall fiscal strategy.
National Journal | Drama Intensifies Over Government Funding and Debt Ceiling on Both Sides of Capitol
A bicameral sparring match between Democratic and Republican leaders—as well as within the GOP conferences in both chambers—raged on Thursday over funding the government and paying its debts, with little prospect of a resolution before the weekend.
CNN Money | Debt ceiling cash crunch: Millions won't get paid
Some Republicans say that in that situation Treasury should prioritize who gets paid first. Their proposal: Pay bondholders and Social Security recipients first. Some GOP lawmakers add active-duty military to the list.
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