News
Market Watch | February construction spending rises 0.1%
Outlays for U.S. construction projects rose 0.1% in February to a seasonally adjusted annual rate of $945.7 billion, led by nonresidential projects, the U.S. Commerce Department reported Tuesday.
Bloomberg | Markit Final March Index of U.S. Manufacturing Fell to 55.5
The Markit Economics final index of U.S. manufacturing fell in March to 55.5 from 57.1 a month earlier, the London-based group said today.
FOX Business | Five States, Gulf of Mexico Carry U.S. Oil Production
Five states and the Gulf of Mexico accounted for more than 80% of all U.S. oil production in 2013, according to data from the Energy Information Administration.
Market Watch | ISM manufacturing index rises slightly in March
U.S. manufacturing companies expanded in March at a slightly faster pace compared to the prior month, a survey of executives found. The Institute for Supply Management said its manufacturing index rose to 53.7% from 53.2% in February.
Bloomberg | China Milk Thirst Hands U.S. Dairies Record 2014 Profits
In a year when most American farmers can expect lower earnings than in 2013, U.S. milk producers are having a windfall.
WSJ | Growth in U.S. Office Market is Picking Up
The U.S. office market is showing signs of picking up steam, with businesses adding space in the first quarter at the fastest pace since 2007, according to a report from real-estate data firm Reis Inc.
CNBC | The Western capitalist system is in danger of becoming not fit for purpose
How many times have we heard that the bank bonus system is needed in order for banks to attract "the best", that pay levels are where they are because of the need to retain the best people? If the best could manage the debacle of 2008, I'd hate to see what a team of mediocre executives could do.
Econ Comments & Analysis
Fortune | After 8 years, the real estate market is finally looking normal again
Since 2006, the real estate market has either been severely depressed or white hot. In 2014, it looks to settle down.
Barrons | Here Comes $75 Oil
The long-term outlook for global oil prices is lower, perhaps much lower, giving a strong boost to the U.S. economy while potentially crippling the economy of Vladimir Putin's Russia. Vast new discoveries of oil and natural gas in the U.S. and around the globe could drive the oil price to as low as $75 a barrel over the next five years from a current $100.
Real Clear Markets | The Growing Regulatory Burden, and the Challenge of Reform
According to the Office of Management and Budget, Americans currently spend 10 billion hours wading through federal paperwork requirements.
Forbes | Whither The New Deal? America's Enigmatic Economic Revolution
Economic crises tend to bring out the worst in people. Panic, demagoguery, and despair were all visible as the markets crashed in September 2008. Aside from prophecies about the collapse of the global economy absent government intervention, several financial executives committed suicide that autumn and winter. In one grisly case, the acting CFO of Freddie Mac, David Kellermann, hung himself in his basement.
Blogs
WSJ | U.S. Oil Production Concentrated in Few States
Rising domestic oil production has enabled the U.S. to become more energy independent and has been a key reason why the trade deficit hasn’t skyrocketed in recent years. The smaller trade gap helps growth in the entire economy, but those oil rigs are located in a narrow section of the nation.
Calculated Risk | Fannie Mae: Mortgage Serious Delinquency rate declined in February, Lowest since November 2008
Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in February to 2.27% from 2.33% in January. The serious delinquency rate is down from 3.13% in February 2013, and this is the lowest level since November 2008.
