Friday, February 20, 2015

General Economics

Market Watch | U.S. Treasury urges Greece, Europe to find 'constructive way forward'
The U.S. Treasury again Thursday urged Greece and its international creditors to find a constructive way to extend its bailout package. Treasury Secretary Jacob Lew and his team have held regular talks with all the parties, including German officials, a senior U.S. Treasury official said.

Econ Comments & Analysis                                                                                            
Wall Street Journal | White House Sees Workforce as Best Bet to Tackle Deficits
Rather than seek to balance the budget and sharply reduce the debt, President Barack Obama ’s economic advisers now say the focus should be to stabilize the debt through the aging of the baby boomers, or those born roughly between 1946 and 1964.
The Telegraph | Don’t panic: The sky won’t fall in if Greece decides to leave the euro
Slowly but surely, we are moving to a denouement in this latest incarnation of the eurozone crisis. Nobody knows for sure what is going to happen – but there is a greater chance than ever before that Greece will eventually quit the eurozone and default on its debts. Greeks and Germans are refusing to move back from the brink, which means that a complete breakdown now looks eerily possible.
Wall Street Journal | Economy’s Supply Side Sputters
For most of the past six years, the U.S. economy faced a demand problem as tight credit, economic pessimism and a fixation on reducing debt discouraged consumers, businesses and government from spending.
Wall Street Journal | U.S. Lawmakers Press Japan’s Abe on Free Trade
A visiting U.S. congressional delegation on Thursday pressed Japan’s Prime Minister Shinzo Abe for a bold market opening amid growing expectations that an agreement can be reached for creating a free-trade area across the Pacific.
CNBC | Why oil is the 'canary in the coal mine': Analyst
Since economies drive commodity prices, not the other way around, the collapse in oil is more of a demand issue than it appears, said Stephen Schork, founder and editor of The Schork Report newsletter.