Thursday, September 11, 2014

General Economics

CNN Money | First rise in foreclosure auctions in nearly four years
Nearly 52,000 U.S. homes went on the auction schedule in August, a 1% increase from 12 months earlier. Though only a slight bump, it marked the first year-over-year increase in foreclosure starts since November 2010.
Market Watch | 30-year-mortgage rate rises to 4.12%
The average rate for a 30-year fixed-rate mortgage rose to 4.12% in the week that ended Sept. 11 from the prior week's reading of 4.10%, which was the lowest rate since late October
Wall Street Journal | France Drops Growth Outlook, Will Miss Deficit Target
France lowered its growth forecast again and warned it would need more time to bring its public deficit in line with European Union rules, as the eurozone's second-largest economy remains mired in stagnation and low inflation.

Econ Comments & Analysis                                                                                    | An Unprepared Obama Fails As America's CEO
As President Obama nears the halfway point of his second term, his lack of executive experience continues to impact the country negatively. He has been constantly frustrated because he doesn't understand the fundamentals of the chief executive job.
Real Clear Markets | Are High Housing Costs Restraining California's Growth?
It's no secret. California is expensive. But is it a little more nuanced than that; coastal California is very expensive while inland California is just moderately expensive. Yet, despite being a well-known fact, Sacramento doesn't appear too concerned with California's growing price tag even though there is evidence it could be slowing the Golden State's economic growth.
Wall Street Journal | The Latest Twist in a Regulatory Sham
The Financial Stability Oversight Council announced last week that it had preliminarily designated MetLife, the nation's largest life insurer, as a systemically important financial institution, or SIFI. This means that the FSOC, established after the financial crisis by the 2010 Dodd-Frank law, believes the financial distress of MetLife could threaten the U.S. financial system.
The Washington Times | YOUNG: Ex-Im Bank is pro-business, but not pro-markets
Congress is back in session, and will likely vote soon on one of the most contentious issues leading into the midterm elections: the Export-Import Bank.
Business Insider | America Is On The Verge of Losing Its Place In The World As No. 1
The U.S. Economy is the largest economy in the world. But it wasn't always the largest.

Wall Street Journal | Former Obama Economic Adviser Larry Summers Calls To Lift Oil-Export Ban
A former top economic adviser to President Barack Obama threw his support behind lifting the decades-old ban on oil exports, saying such a move would bring about a host of positive economic and geopolitical benefits to the U.S., including lower gasoline prices.