Monday, December 1, 2014

General Economics

Wall Street Journal | Oil Slide Deepens, Ruble Crumbles
The persistent slump in oil prices continued to weigh on global markets Monday, hammering the Russian ruble in particular.
Wall Street Journal | Fresh Signs of a Global Slump Pose a Challenge to U.S.
Economic prospects are flagging across Europe, Japan and big emerging markets such as India, a turn that presents fresh challenges to the relatively robust U.S. economy at a time when the world needs a dependable growth engine.
Market Watch | Here’s what we know about the U.S. economy after a two-day data deluge
After an outpouring of at least 11 different economic indicators in just two days’ time, here’s what we know now about the U.S. economy.

Econ Comments & Analysis                                                                                            
Forbes | Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model
Scott Sumner points us to this interesting proof that the Keynesian economic model must be true. For the Financial Times is crowing about the fact that when government spending rises then so does GDP.
Forbes | Is OPEC A Toothless Tiger?
OPEC MET THIS WEEK and decided not to cut the oil production quotas of its members. Petroleum prices took a hit. But don’t be deceived. OPEC’s impact on prices is grossly exaggerated. Speculators believed OPEC would magically pull a rabbit out of the hat. But OPEC doesn’t even have a hat, much less a rabbit.


Econ Comments & Analysis                                                                                            
Wall Street Journal | The Fed Needs More Than an Audit
With Republicans soon to hold majorities in the House and Senate, many commentators are speculating that the Federal Reserve will receive much more critical attention in 2015. In September, a large bipartisan majority in the House passed a bill to have the Government Accountability Office audit the Fed’s activities, including its monetary policies. The bill went nowhere thanks to Senate Majority Leader Harry Reid , but it could have significant support in next year’s Republican Senate.


Econ Comments & Analysis                                                                                            
Forbes | The Oil Price Crashes; So Let's Raise The Gas Tax And Free Crude Exports
As you may or may not have noticed over the Thanksgiving week, the oil price has been moving downwards in a fairly sustained manner.


Wall Street Journal | American Manufacturing Is Alive and Well
That is something that can be lost amid the influx of imports on store shelves and steady erosion of factory jobs. With only 10% of private-sector workers employed by manufacturers, versus 25% in 1980, it seems like the sector wouldn’t provide much oomph. Yet that ignores other workers, from truck drivers to forklift operators, who aren’t employed in manufacturing but still depend on it.
Market Watch | Ho hum: U.S. likely added another 200,000 jobs in November
The economy has settled nicely into hiring grove since the early spring, adding more than 238,000 jobs a month and putting the U.S. on a path to produce the strongest employment gains in 15 years.

Econ Comments & Analysis                                                                                            
Forbes | Mired In College Debt, Millennials Need Better Options
As national dialogue continues about the usefulness of a traditional, 4-year college degree, data show the Millennial generation is falling behind previous ones in savings, net worth, even the ability to move out of their parents’ homes.
CNN Money | Foreign name? Expect a tougher job hunt
The Organization for Economic Co-operation and Development found that a foreign name makes the job search harder for applicants across all 17 developed countries it surveyed.

Wall Street Journal | U.S. Losing Its Luster as World’s Top Destination for Skilled Migrants, Study Suggests
The U.S. is losing its some of its luster as the world’s top destination for skilled migrants, according to a new analysis of LinkedIn Corp. user data.


Market Watch | Funding deadline awaits Congress
Lawmakers returning to Capitol Hill on Monday will have less than two weeks to figure out how to keep the government funded amid an acrimonious fight between Republicans and the White House over immigration.