Wednesday, October 8, 2014

General Economics

Market Watch | Fracking reshapes economy, politics
North Dakota extracted a whopping 313.9 million barrels of oil CLX4, -1.76%  in 2013, compared to just 29 million barrels a decade earlier, according to the Energy Information Administration.

Econ Comments & Analysis                                                                                            
Market Watch | ‘This Changes Nothing’: Capitalism still wins, climate loses
GOP conservatives, Big Oil, Exxon Mobil, Koch billionaires, and every other hard-right climate-science denier must love Naomi Klein’s new book, “This Changes Everything: Capitalism vs. The Climate.” Why? The book’s old news, the title should be: “This Changes Nothing: Capitalism Still Wins, Climate Still Loses.” Yes, the future looks brighter than ever for capitalism.

Wall Street Journal | Global Housing Prices: It’s a Tale of Two Worlds
An index tracking global property prices in 50 countries shows prices haven’t much risen over the past five years, but new research from the International Monetary Fundshows how averages can be misleading.
Wall Street Journal | Eurozone Faces a 1-in-3 Chance of Reentering Recession Soon, IMF Says
The eurozone’s chances of re-entering a recession have roughly doubled to nearly 38% since April, the International Monetary Fund said in its latest global economic outlook on Tuesday, as the threat of deflation smothers growth prospects in the region.

Health Care

CNN Money | Wal-Mart cuts health benefits for 30,000 part-timers
Wal-Mart is eliminating health benefits for about 30,000 employees to control its rising health care costs.
Fox Business | Too Many Underestimate Healthcare Costs In Retirement
Healthcare expenses can cost an insured couple $220,000 in retirement, yet many people aren’t planning for any of those costs let alone a fraction of it.

Econ Comments & Analysis                                                                                            
The Washington Times | Washington’s prescription-drug hustle
Like so many government programs, the so-called 340B prescription-drug program begas as a well-intentioned effort designed to help expand access to pharmaceuticals for low-income Americans.
Mercatus Center | How the Affordable Care Act Begets Gender Inequality
In the past four decades, millions of American women have entered the workforce, sought out new occupations, and embarked on professional careers.


Fox Business | Fed's Dudley: Economy Appears to Be on Track for Mid-2015 Rate Hike
Federal Reserve Bank of New York President William Dudley said Tuesday the U.S. central bank can likely hold off on raising short-term interest rates until 2015 given the expected path of the economy.

Econ Comments & Analysis                                                                                            
Market Watch | The IMF’s $3.8 trillion warning to the Fed
A rocky exit from low interest rates by the Federal Reserve risks $3.8 trillion of losses to global bond portfolios, the International Monetary Fund warned Wednesday in its latest global financial stability report. | Our Economy's Real Problem: The Fed's Easy Money
Americans know that there is a serious problem in the economy. Incomes are stagnant, and the employment situation is not improving in a meaningful way.
Wall Street Journal | The Fed’s Mortgage Favoritism
Modern central banks enjoy extraordinary independence, typically operating free from political interference.


Politico | Warren Buffett says time is right to revamp corporate tax rules
Billionaire investor Warren Buffett said Monday that the White House action to limit companies shifting their tax address outside the United States provides a good "time out" to work on revamping corporate tax rules.

Econ Comments & Analysis                                                                                            
Cato Institute | School Tax Credits Are Good for Parents, Taxpayers
Contrary Bill Duncan’s claims in his recent op-ed (“Voucher law has no real help for low-income kids,” Sept. 19-Oct. 2 NHBR), last month’s unanimous New Hampshire Supreme Court decision to reject his lawsuit against New Hampshire’s educational choice law is a victory for Granite State families and taxpayers generally.


Fox News | Obama, Democrats' dismal record on jobs since 2008
Despite another seemingly good jobs report, President Obama’s approval rating is lower than a snake’s belly, and Republicans could retake the Senate in November.

Econ Comments & Analysis                                                                                            
Bloomberg | Millennials Most-Educated U.S. Age Group After Downturn: Economy
Paul Courtney was about mid-way through his senior year at Georgetown University in Washington when he decided to go to law school.
CBO | Characteristics of the Long-Term Unemployed in March 2007 and March 2014
House Minority Leader Nancy Pelosi has asked the CBO for information about the characteristics of people who have been unemployed for a long time.


Econ Comments & Analysis                                                                                            
CBO | Monthly Budget Review for September 2014
The federal government ran a budget deficit of $486 billion in fiscal year 2014, the Congressional Budget Office (CBO) estimates—$195 billion less than the shortfall recorded in fiscal year 2013, and the smallest deficit recorded since 2008.