Monday, December 15, 2014

General Economic

Market Watch | Industrial production surges in November
Thanks to strong consumer goods and utilities output, industrial production in November rose by the largest percentage since May 2010, according to data released by the Federal Reserve on Monday.

Econ Comments & Analysis                                                                                            
Forbes | Keynesian Confusion Is The Christmas 'Re-Gift' That Keeps On Giving
It’s probably magnified in modern times owing to a still sluggish economy, but this time every year disciples of John Maynard Keynes ‘re-gift’ us with their annual confusion regarding consumption.  One would think Keynes’ disciples would come up with something new, but they’re consistent in their embrace of spending over saving.
Real Clear Markets | Why Emerging Markets Are the Best Place For Protecting Your Retirement Funds
There's no doubt what the received wisdom is these days. All year the financial press has been echoing the theme that emerging markets are toast. The Fed, we're told will shortly be initiating a period of monetary tightening and rising rates. This, we are told, will suction vast quantities of capital out of the global economic periphery towards the havens of the developed world. The dollar will soar in value and emerging market currencies will plummet. Tough economic times will drive global investors towards ‘safety'.
Wells Fargo | Weekly Economic & Financial Commentary
Wall Street Journal | How Cheap Oil Complicates Investing
For most Americans, this year’s sudden collapse of oil prices appears to be unqualified good news. Oil prices have dropped 45% since June, amid surging output from U.S. shale fields, strong Saudi Arabian production and weak demand from Asia and elsewhere. They dropped 12.2% just last week, closing Friday at $57.81 a barrel. Analysts at Credit Suisseand other banks say it will take years before oil prices return to $100-a-barrel levels.


Wall Street Journal | Fed Likely to Stare Down Oil-Price Drop
Much has changed in the U.S. economy since Federal Reserve officials last issued their economic projections, in September. Oil prices have fallen by more than one-third, the dollar has climbed 5.3% against a broad basket of currencies and about 800,000 more Americans have found jobs.


Market Watch | Here are the tax breaks in danger if Congress doesn’t act
The year is quickly winding down for the current Congress. And unless lawmakers hurry, the Senate won’t pass a House-approved bill that would renew 56 expired tax breaks for individuals and businesses. The House passed its bill — which would renew the breaks for the 2014 tax year — on Dec. 3. At stake are deductions for state and local sales taxes; a credit for business research and development; and incentives for biodiesel fuel, among other breaks.


Econ Comments & Analysis                                                                                            
Washington Post | The devalued American worker
Midway through the last game of the 2013 Carolina League season, after he’d swept peanut shells and mopped soda off the concourse, Ed Green lumbered upstairs to the box seats to dump the garbage.


Econ Comments & Analysis                                                                                            
Forbes | Don't Get Used To Shrinking Deficits
The federal deficit is shrinking, which should be good news for all who care about the budget. The deficit is expected to decline to $469 billion in 2015, according to the Congressional Budget Office. This is below the historical average of the last forty years, and significantly below the trillion dollar deficits incurred each year from 2008 to 2011.