Monday, January 12, 2015

General Economics

Market Watch | The biggest job creators in 2014 were....
White-collar businesses, health-care firms, restaurants, hotels and construction companies were the top job creators in 2014, a year that saw the biggest hiring spree since the end of the last century.
Bloomberg | Oil Whacks S&P 500 Earnings Growth
While stock investors wait for the benefits of cheaper oil to seep into the economy, all they can see lately is downside.
Bloomberg | U.S. Drivers Start 2015 With Cheapest Gas in Six Years
Drivers paid an average of $2.2021 a gallon for regular gasoline at U.S. pumps last week, the lowest level for this time of year since 2009, according to Lundberg Survey Inc.

Econ Comments & Analysis                                                                                            
Real Clear Markets | Krugman's Wrong About the Volcker/Reagan Inflation Triumph
Krugman recently wrote a column arguing that the decline of double-digit inflation in the 1980s was the decade's big economic event, not the cuts in tax rates usually touted by conservatives. Actually, I agree with Krugman on this. But then he asserted that Ronald Reagan had almost nothing to do with it. That's historically incorrect. Reagan was crucial.
Forbes | The Economic Impact Of Falling Oil Prices: 'Expansionary Disinflation'
Forget about the “secular stagnation” theory of an ailing U.S. economy. Accordingly to the Labor Department, payrolls grew at a seasonally adjusted increase of 242,000 in December adding to the soaring U.S. job growth of 2014 which represents the strongest annual job creation since 1999.
Wall Street Journal | The Myth of the Carbon Investment ‘Bubble’
Is there a new economic bubble—a “carbon bubble”—forming around oil, natural gas and coal investments? Proponents of the theory assert that the prices of fossil-fuel company stocks are substantially overvalued because their inventory of fossil-fuel resources cannot be brought to the surface and consumed if the world is to keep global emissions below certain carbon-dioxide thresholds.

Wall Street Journal | Of More Than 3,000 U.S. Counties, Just 65 Have Recovered From Recession, NACo Says
Seven years after the recession began, only one in 50 U.S. counties has fully bounced back, according to a study the National Association of Counties released Monday.