News
Market Watch | Leading indicators climb 0.8% in September
The Conference Board's leading economic index rose 0.8% in September, accelerating after no change in August. "The outlook for improving employment and further income growth are expected to support the moderate expansion in the U.S economy for the remainder of the year," said Ataman Ozyildirim, economist at The Conference Board.
Blogs
Bloomberg | Why the Stock Market Rally Is Bad News
U.S. stocks had their biggest rally in a year yesterday. The S&P 500 has now recovered in a blink: a 4.1 percent rise since Oct. 15, reversing a 7.5 percent drop.
Thursday, October 23, 2014
Monetary
Econ Comments & Analysis
New York Times | The Fed at the Crossroads
Barring unexpected bad economic news in the next several days, the Federal Reserve will finish its bond-buying program at the end of this month. In all, the program has pumped $3.5 trillion into the economy since 2008, helping to revive financial markets and stabilize the economy.
Market Watch | The Fed is deliberately stealing from savers
Recently Janet Yellen expressed both concern and puzzlement over the rising wealth inequality in America.
New York Times | The Fed at the Crossroads
Barring unexpected bad economic news in the next several days, the Federal Reserve will finish its bond-buying program at the end of this month. In all, the program has pumped $3.5 trillion into the economy since 2008, helping to revive financial markets and stabilize the economy.
Market Watch | The Fed is deliberately stealing from savers
Recently Janet Yellen expressed both concern and puzzlement over the rising wealth inequality in America.
Employment
News
Wall Street Journal | Minimum Wage Backfire
If there’s a silver lining for McDonald’s in Tuesday’s dreadful earnings report, it is that perhaps union activists will begin to understand that the fast-food chain cannot solve the problems of the Obama economy. The world’s largest restaurant company reported a 30% decline in quarterly profits on a 5% drop in revenues. Problems under the golden arches were global—sales were weak in China, Europe and the United States.
Wall Street Journal | U.S. Jobless Claims Remain Near 14-Year Lows
The number of new claims for jobless benefits rose last week but remained near 14-year lows, the latest sign of an improving labor market.
Blogs
Wall Street Journal | Unemployment Rate Below 5% in 15 States
The unemployment rate stood below the 5% line in 15 states in September, signaling a return to healthier labor-market conditions in a growing swath of the country.
AEI | An amazing chart of an amazing job-creating state; we all owe a debt of gratitude to ‘Saudi Texas’ and the shale boom
The chart above shows a most amazing economic phenomenon: Since December 2007 when the Great Recession started, Texas civilian employment has increased by 12% and by more than 1.32 million jobs, from just over 11 million jobs in December 2007 to 12.32 million in September of this year (see blue line in chart). In contrast, civilian employment in the other 49 states without Texasis still 0.73% and almost one million jobs below the December 2007 level (see red line in chart) – 134.27 million non-Texas jobs in September vs. 135.26 million in December 2007.
Wall Street Journal | Minimum Wage Backfire
If there’s a silver lining for McDonald’s in Tuesday’s dreadful earnings report, it is that perhaps union activists will begin to understand that the fast-food chain cannot solve the problems of the Obama economy. The world’s largest restaurant company reported a 30% decline in quarterly profits on a 5% drop in revenues. Problems under the golden arches were global—sales were weak in China, Europe and the United States.
Wall Street Journal | U.S. Jobless Claims Remain Near 14-Year Lows
The number of new claims for jobless benefits rose last week but remained near 14-year lows, the latest sign of an improving labor market.
Blogs
Wall Street Journal | Unemployment Rate Below 5% in 15 States
The unemployment rate stood below the 5% line in 15 states in September, signaling a return to healthier labor-market conditions in a growing swath of the country.
AEI | An amazing chart of an amazing job-creating state; we all owe a debt of gratitude to ‘Saudi Texas’ and the shale boom
The chart above shows a most amazing economic phenomenon: Since December 2007 when the Great Recession started, Texas civilian employment has increased by 12% and by more than 1.32 million jobs, from just over 11 million jobs in December 2007 to 12.32 million in September of this year (see blue line in chart). In contrast, civilian employment in the other 49 states without Texasis still 0.73% and almost one million jobs below the December 2007 level (see red line in chart) – 134.27 million non-Texas jobs in September vs. 135.26 million in December 2007.
Budget
Blogs
Daily Signal | Top 7 Wackiest Examples of Wasteful Government Spending from Wastebook 2014
During a time when many families have made financial sacrifices to make ends meet, the federal government continues to spend. Washington politicians continue to claim their levels of spending are necessary and that they have cut all of the nonessential spending they could find.
Daily Signal | Top 7 Wackiest Examples of Wasteful Government Spending from Wastebook 2014
During a time when many families have made financial sacrifices to make ends meet, the federal government continues to spend. Washington politicians continue to claim their levels of spending are necessary and that they have cut all of the nonessential spending they could find.
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