Friday, November 14, 2014

General Economics

Fox Business | Strong Dollar, Weak Oil Lead Import Prices Lower
U.S. import prices fell in September by the most in more than two years as the cost of petroleum products declined and a strong dollar made it cheaper for Americans to buy goods from abroad.
Market Watch | U.S. business inventories climb 0.3% in September
Business inventories rose 0.3% in September to a seasonally adjusted $1.76 trillion, the Commerce Department said Friday.
Market Watch | Consumer sentiment highest since mid-2007: reports
The preliminary November reading on the University of Michigan/Thomson Reuters consumer-sentiment index rose to 89.4-- the highest level since July 2007 -- from a final October reading of 86.9, according to reports on data released Friday.
Market Watch | U.S. retail sales snap back in October
Sales at U.S. retailers rose in October, snapping back from the first decline in eight months, as plunging gasoline prices gave consumers more money to spend on other goods and services.
Market Watch | U.S. import prices drop 1.3% in October
The prices paid for imported goods fell 1.3% in October, the Labor Department said Friday.

Econ Comments & Analysis                                                                                            
AEI | Are rich Americans just a bunch of rent-seeking suits? Piketty says so. But he might be wrong
It matters, I think, if the rich are mostly getting richer because (a) technology and globalization enables more value creation or (b) they’re able to somehow manipulate the system.

Wall Street Journal | Americans Save on Gas, Spend at Restaurants in October
U.S. consumers are spending more at restaurants as gasoline prices fall. Department stores, not so much.