Wednesday, August 6, 2014

General Economics

Fox Business | Oil Prices Drop on Demand Concerns
Analysts expect the U.S. Energy Information Administration to report that domestic oil supplies fell by 1.7 million barrels in the week ended Aug. 1, according to a Wall Street Journal survey.
CNN Money | Want a cheap mortgage? Move to these states
Your credit score isn't the only thing determining whether or not you get a good rate on your mortgage. Where you live can also have a big impact.
Bloomberg | Trade Gap Shrinks to Five-Month Low as U.S. Imports Drop
The gap shrank 7 percent to $41.5 billion, the smallest since January, from May’s $44.7 billion, Commerce Department figures showed today in Washington. The drop in purchases of foreign goods from the highest levels on record included declines in autos, cellular phones and the lowest petroleum imports in more than three years.

Econ Comments & Analysis                                                                                            
Real Clear Markets | Universal Basic Income: An Idea Whose Time Has Come
A universal basic income, or UBI, is radical in the best sense of the word. It cuts through the perverse incentives that currently discourage the poor from taking jobs and encourage them to game the system.
Washington Times | EDITORIAL: Obama’s fulfilled promise of electric rates skyrocketing
The Bureau of Labor Statistics reports that the price of electricity jumped to a record 14.3 cents per kilowatt-hour in June, compared to 12.4 cents per kilowatt-hour when he took office. That 1.9 cent jump may not sound like much, but it costs an average customer an extra $205 per year.
USA Today | Charles Koch: How to really turn the economy around
Government, business and workers need to address values and incentives.
Real Clear Markets | Nothing Is More Impoverishing Than Demonization Of the 1 Percent
We extol the top 1% everywhere, except where it's most important: the economy. If we call a ceasefire to the left's class warfare, it is clear how incongruous their call to accept this exception is. What we have is a conflict between America's quest for the best and the left's goal for control.
Cato Institute | Kicking Social Security’s Empty Can Down the Road
“Since the 2004 Trustees’ report was issued, the program’s unfunded obligation has grown larger by a whopping $14.5 trillion.”

WSJ: The Numbers | Why It’s Worrying That U.S. Companies Are Getting Older
Moreover, it has become more difficult for younger companies to survive and compete with the bigger ones. Business failures are more frequent and likely among start-ups, which may account for the fall in business creation after the 1990s. The economy has grown more advantageous for incumbent firms and less helpful for fledgling ones.
WSJ: Real Time Economics | U.S. Home Prices Slowed Down in June
Prices were up 7.5% for the year ended in June. That’s down from a revised 8.3% year-over-year increase reported for May, which was initially reported as an 8.8% gain.