Monday, November 17, 2014

General Economics

Wall Street Journal | Japan Falls Into Recession
Japan’s economy shrank for a second quarter in a row, after a sales-tax increase took the steam out of Prime Minister Shinzo Abe ’s bid to turn Japan into a global model of revival.
Wall Street Journal | Obama Looks to Jump-Start Export Push
The Obama administration will fall well short of its goal of doubling exports in five years. But it is hoping to secure a longer-run victory on the trade front with sweeping new agreements in the next two years.
Market Watch | Industrial production falls unexpected 0.1% in October
Industrial production fell a seasonally adjusted 0.1% in October, the second drop in the last three months, the Federal Reserve said Monday. The decline was unexpected.

Health Care

CNN Money | Obamacare 2.0 kicks off with few hitches
Obamacare 2.0 opened for enrollment early Saturday morning with less fanfare and fewer glitches than a year ago. I was able to easily create an account and, aside from some consumers having trouble remembering passwords and confirming their identities, saw few reports of any major problems. Last year, the site crashed almost immediately.


Market Watch | Fed's Powell suggests mid-2015 time for first rate hike
The first rate hike will likely come in 2015 perhaps around mid-year, said Federal Reserve Governor Jerome Powell on Monday.
Market Watch | Fed meeting with major banks, regulators to develop Libor alternative
The Federal Reserve said Monday it is meeting with representatives from 15 banks as well as U.S. and foreign regulators to discuss the process for developing risk-free reference rate alternatives to the current London Interbank Offered Rate for use in derivative contracts.


AEI | The GOP really needs to rethink its approach to tax cuts
My friend Steve Moore, Heritage Foundation chief economist and former Wall Street Journal writer, doesn’t like the conservative idea of cutting the tax burden and increasing take-home pay of American parents by expanding the child tax credit.


Market Watch | A majority of Americans make less than $20 per hour
According to data compiled by Goldman Sachs, most American workers earn below $20 per hour. Goldman Sachs economists David Mericle and Chris Mischaikow crunched Labor Department data that is used to generate the monthly jobs report that the market closely watches, in particular from the survey of employers.

Econ Comments & Analysis                                                                                            
Forbes | What Republicans Can Do About Stagnating Wages
The 2014 midterms were a referendum on the left’s economic agenda. Republicans were handed the House and Senate in a historic landslide. Exit polls showed voters’ biggest concern was the economy, which has sputtered after six years of big government policies. Now, it’s the right’s turn.