Monday, August 18, 2014

General Economics

Politico | Exclusive: White House meets with big biz on immigration
Obama was initially expected to focus only on slowing deportations of potentially millions of undocumented immigrants and altering federal enforcement policies. Now top aides are talking with leaders in big companies like Cisco, Intel and Accenture, hoping to add more changes that would get them on board.
CNN Money | Dollar General outbids Dollar Tree for Family Dollar
The low-price retailer war is heating up: Dollar General made an all-cash bid of nearly $10 billion for Family Dollar, topping a deal Dollar Tree made last month.
Bloomberg | Homebuilder Confidence in U.S. Increases to Seven-Month High
Confidence among U.S. homebuilders rose in August to the highest level in seven months, showing the industry is making more headway after weakness earlier this year.
WSJ | U.S. Farmers Are Up to Their Ears in Corn
The U.S. Agriculture Department projected last week that production will exceed 14 billion bushels, topping last year's historic harvest.

Econ Comments & Analysis                                                                                            
CNN Money | Does the $100 bill need to go?
Nearly 80% of the $1.3 trillion currency in circulation is in the form of $100 bills, Rogoff wrote in a paper earlier this year. The sheer number is far more than anything that can be traced to legal use in the U.S. economy. In other words, the U.S. "Benjamin" is a favorite of criminals.
Forbes | The Closing Of The Austrian School's Economic Mind
What doesn’t even rate serious debate is the strange migration of certain Austrians to Keynesian “deposit banks” that the markets would so clearly reject, not to mention the obsession of this grand school of thought with using the state to abolish “fractural reserve banking.”
WSJ | A Better Way Up From Poverty
The country's problems are urgent and real, but they aren't insurmountable. When I visit our big cities and small communities, I see the signs of a great American comeback in the making. If we focus on solutions and give voters a meaningful choice, then I know we can get this done.
Real Clear Markets | Prosperity Won't Cure All Global Ills
The world arena is simply not the place we imagined it would become. But we should recognize that it is no panacea and that we should rethink its realistic possibilities and limits. In this post-euphoric time, we cannot afford to believe in utopias.
Washington Times | Secular stagnation is a cover-up
Amazingly, the architects of this colossal policy failure are the same people who promised they would rebuild the U.S. economy “for the long term,” as Mr. Obama put it in 2009. But they’re now blaming the stagnant economy on structural problems beyond their control. Oh, we get it. Consumers and businesses are wrong because they didn’t adhere to Keynesian economic models.
Market Watch | 5 reasons why the housing market won’t crash
I’m not naïve, so I won’t claim we will never see another housing crisis again. But given the latest indicators, I think it is highly unlikely there could be another crash in the next year or two.