News
Bloomberg | Consumer Confidence in U.S. Fell Last Week to Two-Month Low
Consumer confidence dropped last week to the lowest level in two months as more Americans said it was not a good time to shop.
Politico | Why the rich are freaking out
The co-founder of one the nation’s oldest venture capital firms fears a possible genocide against the wealthy. Residents of Manhattan’s tony Upper East Side say the progressive mayor didn’t plow their streets as a form of frosty revenge. And the co-founder of Home Depot recently warned the Pope to pipe down about economic inequality.
CNN Money | Economy grew solidly in fourth quarter
The U.S. economy ended the year with solid growth, driven by stronger consumer spending and exports.
Bloomberg | Euro-Area Economic Confidence Increases for Ninth Month
Euro-area economic confidence increased for a ninth month in January, led by the services industry, adding to evidence that the 18-nation currency bloc’s recovery is gaining traction.
Market Watch | Pending-home-sales index drops 8.7% in December
A gauge of pending home sales dropped in December to the lowest level in more than two years, signaling that upcoming activity may slow down, the National Association of Realtors reported Thursday.
Econ Comments & Analysis
CNBC | The myth of wage stagnation
Income inequality topped the agenda at the World Economic Forum's annual meeting in Davos, Switzerland last week. The issue is equally prominent here in the U.S., as was evident in President Obama's State of the Union address on Tuesday.
WSJ | Economies on Steroids Try to Play Without Them
Tuesday night was the State of the Union address, but an announcement this morning from the Commerce Department may be the most important news from Washington this week.
Blogs
WSJ | Economists React: Fourth Quarter GDP ‘Pretty Impressive’
Economists and others weigh in on the 3.2% growth in gross domestic product at a seasonally adjusted annual rate.
Café Hayek | Real prosperity
This week’s EconTalk is one of my favorite episodes in a long time–Nina Munk talking about her book, The Idealist, the story of Jeffrey Sachs’s attempts to end poverty.
Library of Economics | Keynesian confirmation bias
When you read Keynesian blogs you get the impression that Keynesians think their model has been somehow confirmed by the events of the last few years. And yet figuring out what their model actually predicts can be maddeningly difficult, like nailing jello to the wall. Today I'll use some examples from Paul Krugman, who is the leader of blogosphere Keynesians. But as far as I can see most of the others are just as hard to pin down.
WSJ | Japan Sees Trouble Ahead as Trade Pact Stalls
Until earlier this month, Japan had been under strong pressure from the U.S. to open its market as part of the highly contentious Trans-Pacific Partnership free trade negotiations. On Thursday, Japan appeared to be suddenly let off the hook.
