Friday, January 23, 2015

General Economics

Market Watch | Existing-home sales saw first drop since 2010 last year
Data released Friday showed that existing home sales dipped in 2014, the first decline since 2010, despite low mortgage rates and other factors that should have helped the market.

Econ Comments & Analysis                                                                                            
Market Watch | Europe moves further apart after central bank’s decision
Thursday was a momentous day for the European Central Bank.
Bloomber View | Cheap Gas Won't Stick Around
Raise that thermostat and fire up the SUV: West Texas Intermediate crude is hovering around $45 a barrel, and the Costco near my house is currently vending gasoline for under $2 a gallon. But don't start pricing Hummers just yet, because we don't know how long this will last.
Wall Street Journal | As Gasoline Heads Toward $2, the Benefits Start to Trickle Down
Gas prices appear headed below a nationwide average of $2 a gallon in coming days, one of the swiftest declines on record and one that is beginning to ripple through the U.S. economy in ways both familiar and unpredictable.
Wall Street Journal | Lawrence Summers Says U.S. Faces Challenges in Restoring Growth
The U.S. economy still faces serious challenges in restoring robust long-term growth despite the recent pickup in economic activity, former Treasury Secretary Lawrence Summers said.

Wall Street Journal | The End of the Suburbs and Four Other American Migration Myths
Lyman Stone, a migration researcher at George Washington University’s Elliot School of International Affairs and an economist at the Agriculture Department, is writing about the state of American migration.