Thursday, October 9, 2014

General Economics

CNN Money | Seniors in almost every state are struggling to afford retirement
Households ages 65 and older in the U.S. are living on an average of only $37,847 a year. That's around 60% of the annual earnings of today's 45- to 64-year olds and falls well short of the 70% in pre-retirement income that's typically recommended for retirees, according to an analysis of 2013 Census Bureau data.
Market Watch | U.S. wholesale inventories rise 0.7% in August
 U.S. wholesale inventories rose by 0.7% in August, the U.S. Commerce Department said Thursday.
CNN Money | From Brazil to Uganda: What it takes to get ahead
The world may be flat these days, but the path to success differs around the globe.

Econ Comments & Analysis                                                                                            
Wall Street Journal | Europe’s Next Dip
This week’s stock market rout in Europe, which also hit U.S. markets, is being attributed to a downgrade in the International Monetary Fund’s outlook for the euro zone.
Real Clear Markets | Believe It or Not, Humanity Is Making Progress
Progress has lately gotten a bad rap, because there seems to be so little of it. Violence wracks the Middle East; economies are sputtering; Ebola strikes fear.
Fox News | Why welfare, mimimum wage make it harder for poor Americans to succeed
I was taught at Princeton, “We’re a rich country. All we have to do is tax the rich, and then use that money to create programs that will lift the poor out of poverty.” Government created job-training programs for the strong and expanded social security for the weak.

Wall Street Journal | Is Japan’s Economy on the Verge of a Recession?
The “r” word is on the lips of economists again in Japan: Did an April sales tax increase send the world’s third-largest economy into recession?
Cato Institute | Yes, Fixing Higher Ed Means Eliminating Federal Aid
National Review Online is in the midst of its “education week” – including offerings byyours truly and Jason Bedrick – and today brings us a piece by AEI’s Andrew Kelly on how to fix our higher ed system. Unfortunately, while he largely nails the problems, he stumbles on the solution.