News
Bloomberg | U.S. Calls for TPP Trade Deal Progress in Asia Before Year End
U.S. Treasury Secretary Jacob J. Lew sought progress on negotiations in the Trans-Pacific Partnership in his trip to Asia this week as a year-end deadline for the trade pact looms.
CNN Money | US Airways-American settlement: What it means for fares
In 2014, US Airways and American Airlines will be merged. Whether that means higher fares for fliers isn't completely clear.
Bloomberg | Emerging-Market Banks Threatened by End of Credit Boom
The world’s largest emerging markets recovered quickly from the 2008 financial crisis because consumers and companies went on a borrowing binge. Now that credit spree is coming back to haunt banks in those countries.
Econ Comments & Analysis
Forbes | China Builds World's Largest Temple To Capitalist Materialism
Forget the Great Leap Forward. Forget the Cultural Revolution. Forget the Little Red Book, and the 100 million souls who perished transforming one of the world’s oldest and most entrepreneurial civilizations into a communist gulag. These ghosts of China’s Marxist past are being exorcised in in a new kind of revolution—by consumers.
Heritage Foundation | GSE Reform: Affordable Housing Goals and the “Duty” to Provide Mortgage Financing
As Congress considers legislation to eliminate the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, advocacy groups are pressuring financial institutions to adhere to a “duty to serve” their markets rather than to meet specific affordable housing goals.
Blogs
WSJ | Aging Population Isn’t the Timebomb Many Make It Out to Be
It’s long been conventional wisdom among economists and policy makers that most developed economies and some developing economies face a demographic crisis in the decades ahead, as the rising cost of providing pensions and health care for a growing cadre of older people overwhelms the capacity of a shrinking cadre of workers to generate the necessary resources.
WSJ | Understanding Japan’s GDP: A Guide for the Perplexed
Japan on Thursday will release preliminary data for the third quarter’s gross domestic product. Economists expect the growth rate to have slowed to 1.7% on-quarter in annualized terms in the July-September period, from 3.8% in April-June.
Wednesday, November 13, 2013
Health Care
News
Politico | Obamacare glitches shadowing Medicaid
Another under-the-radar Obamacare malfunction could stymie January health coverage for some of the nation’s poorest people, state Medicaid officials say.
Econ Comments & Analysis
WSJ | Small Business and ObamaCare
One of President Obama's proudest boasts about the Affordable Care Act is that it helps small business. The White House website says the health law "makes it easier for businesses to find better coverage options" and "stops insurance companies from taking advantage of you, giving the consumer and business owner more control and making health-care coverage more affordable." Small businesses aren't buying it.
Washington Times | The Obamacare asterisk
About 40,000 customers are said by the government to have signed up for Obamacare in the 36 states that depend on the federal government’s online site for signing up for health insurance. That’s not much more than a thousand per state in the first six weeks. It’s less than one customer for each of the 50,000 Obamacare “navigators” who were hired to persuade consumers to share President Obama’s signature achievement, and how to do it.
Politico | Obamacare glitches shadowing Medicaid
Another under-the-radar Obamacare malfunction could stymie January health coverage for some of the nation’s poorest people, state Medicaid officials say.
Econ Comments & Analysis
WSJ | Small Business and ObamaCare
One of President Obama's proudest boasts about the Affordable Care Act is that it helps small business. The White House website says the health law "makes it easier for businesses to find better coverage options" and "stops insurance companies from taking advantage of you, giving the consumer and business owner more control and making health-care coverage more affordable." Small businesses aren't buying it.
Washington Times | The Obamacare asterisk
About 40,000 customers are said by the government to have signed up for Obamacare in the 36 states that depend on the federal government’s online site for signing up for health insurance. That’s not much more than a thousand per state in the first six weeks. It’s less than one customer for each of the 50,000 Obamacare “navigators” who were hired to persuade consumers to share President Obama’s signature achievement, and how to do it.
Monetary
News
Bloomberg | Central Banks Risk Asset Bubbles in Battle With Deflation
Central banks are finding it’s easier to push up stock and home prices than it is to prevent inflation from falling short of their targets.
Econ Comments & Analysis
WSJ | Finding Out Where Janet Yellen Stands
The president nominated Janet Yellen, a friend and former colleague, to be the next chairman of the Federal Reserve. I expect she will marshal her strong intellect, meticulous preparation and ample experience to lead the central bank successfully.
Blogs
WSJ | ‘Fragile Five’ Struggle to Take Advantage of Fed Taper Reprieve
The Federal Reserve’s decision in September to maintain for now its extraordinary support for the American economy has given emerging markets extra time to prepare for the U.S. central bank’s eventual policy tightening.
Bloomberg | Central Banks Risk Asset Bubbles in Battle With Deflation
Central banks are finding it’s easier to push up stock and home prices than it is to prevent inflation from falling short of their targets.
Econ Comments & Analysis
WSJ | Finding Out Where Janet Yellen Stands
The president nominated Janet Yellen, a friend and former colleague, to be the next chairman of the Federal Reserve. I expect she will marshal her strong intellect, meticulous preparation and ample experience to lead the central bank successfully.
Blogs
WSJ | ‘Fragile Five’ Struggle to Take Advantage of Fed Taper Reprieve
The Federal Reserve’s decision in September to maintain for now its extraordinary support for the American economy has given emerging markets extra time to prepare for the U.S. central bank’s eventual policy tightening.
Taxes
News
Politico | John Boehner, Dave Camp to huddle over tax reform’s path
Top House Republican leaders will huddle with the chairman of the Ways and Means Committee on Thursday, in a meeting that could help determine the path of chief tax writer Dave Camp’s push to introduce legislation to revamp the tax code, according to multiple sources in Republican leadership and on the committee.
Bloomberg | Tax Sales Threaten to Extend Worst Losses Since ’08: Muni Credit
Buying municipal bonds usually helps individuals lower taxes. This year, amid the worst losses in the $3.7 trillion market since 2008, so does selling the debt.
Econ Comments & Analysis
Washington Times | Cutting job-killing tariffs
Among its other sins, Congress is now forcing U.S. companies — and American consumers — to pay an extra quarter-billion dollars a year in tariffs owing to its own inaction. Why does our own government impose tariff burdens on us that raise the cost of living for all Americans? This self-inflicted wound should be ground zero for bipartisan action. Now.
Politico | John Boehner, Dave Camp to huddle over tax reform’s path
Top House Republican leaders will huddle with the chairman of the Ways and Means Committee on Thursday, in a meeting that could help determine the path of chief tax writer Dave Camp’s push to introduce legislation to revamp the tax code, according to multiple sources in Republican leadership and on the committee.
Bloomberg | Tax Sales Threaten to Extend Worst Losses Since ’08: Muni Credit
Buying municipal bonds usually helps individuals lower taxes. This year, amid the worst losses in the $3.7 trillion market since 2008, so does selling the debt.
Econ Comments & Analysis
Washington Times | Cutting job-killing tariffs
Among its other sins, Congress is now forcing U.S. companies — and American consumers — to pay an extra quarter-billion dollars a year in tariffs owing to its own inaction. Why does our own government impose tariff burdens on us that raise the cost of living for all Americans? This self-inflicted wound should be ground zero for bipartisan action. Now.
Employment
News
CNS News | Americans’ Participation in Labor Force Hits 35-Year Low - See more at: http://cnsnews.com/news/article/ali-meyer/americans-participation-labor-force-hits-35-year-low#sthash.lkmqCmTL.dpuf
The percentage of American civilians 16 or older who have a job or are actively seeking one dropped to a 35-year low in October, according to the Bureau of Labor Statistics. - See more at: http://cnsnews.com/news/article/ali-meyer/americans-participation-labor-force-hits-35-year-low#sthash.lkmqCmTL.dpuf
CNS News | Americans’ Participation in Labor Force Hits 35-Year Low - See more at: http://cnsnews.com/news/article/ali-meyer/americans-participation-labor-force-hits-35-year-low#sthash.lkmqCmTL.dpuf
The percentage of American civilians 16 or older who have a job or are actively seeking one dropped to a 35-year low in October, according to the Bureau of Labor Statistics. - See more at: http://cnsnews.com/news/article/ali-meyer/americans-participation-labor-force-hits-35-year-low#sthash.lkmqCmTL.dpuf
Budget
Econ Comments & Analysis
Daily Caller | 10 budget-cutting suggestions for Paul Ryan and Patty Murray
House and Senate budget negotiators, led by Rep. Paul Ryan and Sen. Patty Murray, have been meeting to find ways to trim spending and solve the federal budget mess. Many pundits are giving them low odds at agreeing to major reforms.
Heritage Foundation | Principles for the Budget Conference
For the first time in years, lawmakers have agreed to convene in a budget conference to reconcile differences between their respective budget proposals, as presented by House Budget Committee chair Paul Ryan (R–WI) and Senate Budget Committee chair Patty Murray (D–WA). The two chambers’ budgets differ wildly in terms of taxes and the size of government.
Daily Caller | 10 budget-cutting suggestions for Paul Ryan and Patty Murray
House and Senate budget negotiators, led by Rep. Paul Ryan and Sen. Patty Murray, have been meeting to find ways to trim spending and solve the federal budget mess. Many pundits are giving them low odds at agreeing to major reforms.
Heritage Foundation | Principles for the Budget Conference
For the first time in years, lawmakers have agreed to convene in a budget conference to reconcile differences between their respective budget proposals, as presented by House Budget Committee chair Paul Ryan (R–WI) and Senate Budget Committee chair Patty Murray (D–WA). The two chambers’ budgets differ wildly in terms of taxes and the size of government.
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