Monday, December 23, 2013

In the Water, In the Air: Monday, December 23, 2013.


ECONOMICS 101
Capitalism’s Enigma And Its Future: How the West Grew Rich (Donald Devine, The Federalist -- Economics, 12/23).
How America abandoned its “undeserving” poor "With poverty on the rise in the late 1970s, Reagan conservatives waged war on the needy — and won" (Michael B. Katz, Salon, 12/21).
Market Wisdom Replaced By Political Force (Frank Macchiarola and Michael Macchiarola, RealClearMarkets, 12/23).
THE NATURE OF POLITICS
No Man for Himself, And The Devil Take Most: American people vs. American government (David Corbin and Matt Parks, The Federalist, 12/21).
Don’t Mistake This for Gridlock (Tyler Cowen, The New York Times -- Business Day, 12/21).
REVENUE-SIDE REFORM
Unmasking the Mortgage Interest Deduction: Who Benefits and by How Much? 2013 Update (Dean Stansel and Anthony Randazzo, Reason Foundation, 12/18).
2013 Tax Cut Roundup (American Legislative Exchange Council, November 2013*).
Ultra-Wealthy Dodge Billions in Taxes Using "GRAT" Loophole (citizens for Tax Justice, 12/20).
SPENDING-SIDE REFORM
Lessons from Dutch Welfare Reform (Michael D. Tanner, Cato Institute -- Cato at Liberty, 12/17).
Obama signs order for federal worker pay raises in 2014 (Ros Krasny, Yahoo! News -- Canada, 12/23 [visited]).
The Importance of Unemployment Insurance for American Families & the Economy: Take 2 (Melissa S. Kearney and Benjamin Harris, The Hamilton Project, December 2013*).
MIXED-SIDE AND REGULATORY REFORM
Would Increasing the Minimum Wage Create Jobs? "A few liberals say so. But even if they're right, the effect would be small and short-lived." (Jordan Weissman, The Atlantic, 12/20).
Why the US needs big banks (Richard X. Bove, New York Post -- Opinion, 12/21).
GROWTH AND JOBS
 A Christmas Wish: A Less Debt-Obsessed GOP "Our long-term debt is daunting, but jobs are a more pressing problem."  (James Pethokoukis, National Review Online, 12/23).
MOBILITY AND EQUALITY OF OPPORTUNITY
Obama's Misguided Obsession With Inequality "He uses statistics that ignore taxes and transfer payments. Faster growth is what the poor really need." (Robert E. Grady, The Wall Street Journal -- Opinion, 12/22).
Inequality for Dummies (Bill Keller, The New York Times -- The Opinion Pages, 12/22).
Obama is right to put spotlight on economic inequality "Virtually every economic problem we have today — slow growth, high unemployment, low social mobility — is both a manifestation and a cause of economic inequality." (Michael Hiltzik, Los Angeles Times -- Business, 12/22).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Too Convoluted to Succeed "Why Dodd-Frank won’t prevent another financial crisis" (Nicole Gelinas, City Journal, Autumn 2013*).
The Federal Reserve at 100: Age shall not weary her "America’s central bank has become ever more powerful over the past century" (The Economist, 12/21).
Bits and Barbarism (Paul Krugman, The New York Times -- The Opinion Pages, 12/22).
At 100, the Fed Can't Do Much to Revive the Economy (Robert Samuelson, RealClearMarkets, 12/23).
GLOBAL ECONOMY [-- GLOBAL CURRENCY |-- InsertCountryHere |-- InsertRegionHere]
Japan Doubles Down on ASEAN "Tokyo has had a busy year reaching out to ASEAN countries. Will the effort continue in 2014?" (J. Berkshire Miller, The Diplomat, 12/23).
Merry Christmas, Europe -- You've Been Downgraded (Alex Berezow, RealClearWorld -- The Compass, 12/23).
Why the elites are rising up (Jackson Diehl, The Washington Post -- WP Opinions, 12/22).
A Union of Banks "The European Banking Union will not increase governments’ regulatory power over the bloated banking sector. It is just another promise to banks that they will certainly be helped in times of crisis." (Juliane Mendelsohn, The European -- Columns, 12/20).
Worries About the World Economy in 2014 (David Dapice, RealClearWorld, 12/23).

Thursday, December 19, 2013

In the Water, In the Air: Thursday, December 19, 2013


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
How the budget deal helps Obama (John Podhoretz, New York Post, 12/17).
And the budget winner is ... the defense sector (Andrew Cockburn, Los Angeles Times -- Opinion, 12/20).
John Boehner’s Betrayal (Jenny Beth Martin, The New York Times -- The Opinion Pages, 12/19).
The 5 Biggest Myths About The Budget Deal (Stan Collender, stan collender's capital gains and games, 12/18).
Two and a Half Cheers for Ryan-Murray (Peter Ferrera, The American Spectator, 12/18).
FISCAL FOLLIES -- FEBRUARY/MARCH 2014 DEBT LIMIT
Lew warns Congress of February debt ceiling deadline (Reuters, CNBC -- Economy, 12/19).
The GOP's Phony Debt-Ceiling Threats (Joshua Green, Bloomberg Businessweek, 12/18).
DEFICITS AND DEBT
2013 Was the Year the Grand Bargain Died. Good Riddance. (Mark Schmitt, New Republic, 12/19).
ECONOMIC REPORTS
Jobless claims unexpectedly jump to highest level since March (Jim Puzzanghera, Los Angeles Times -- Business, 12/19).
Housing, jobs data weaken, but overall economic picture still upbeat (Lucia Mutikani, Reuters, 12/19).
Richard Florida, Mr. Creative Class, Is Now Mr. Rust Belt (Alec MacGillis, New Republic -- Cities, 12/18).
Chart Book: Federal Housing Spending Is Poorly Matched to Need (Will Fischer and Barbara Sard, Center on Budget and Policy Priorities, 12/18).
This Is The Most Important Chart Of 2013 (Matthew Boesler, Business Insider, 12/19).
Teaching the market monetarists about money (John Carney, CNBC -- NetNet, 12/18).
THE NATURE OF POLITICS
A More Machiavellian World than Ever (Gianni Riotta, RealClearWorld, 12/19).
REVENUE-SIDE REFORM
White House Tax Plan Would Be Grinch For Blue State Charity (Howard Husock, Forbes, 12/18).
Income Tax Deductions for Sales Taxes: A Step Away from Tax Fairness (Citizens for Tax Justice, 12/17).
America needs the Fair Tax, not more fiddling with the tax code (Robert C. McNair, Washington Examiner, 12/18).
Mortgage Interest Deduction Saves Middle Class Taxpayers All Of $51/Month (Anthony Randazzo and Dean Stansel, Forbes, 12/18).
Slammed by New Taxes: Why You’re Poorer Than You Think (David Koeppel, The Fiscal Times, 12/19).
SPENDING-SIDE REFORM
Is the West retiring early retirement? (Robert J. Samuelson, The Washington Post -- WP Opinions, 12/18).
The conservative contempt for the working person shows through (Michael Hiltzik, Los Angeles Times -- Business, 12/18).
MIXED-SIDE AND REGULATORY REFORM
A Tax on Employing Poor People (Robert VerBruggen, RealClearPolicy, 12/18).
GSE Reform: FHFA Should Not Pursue Mortgage Principal Reduction Alternatives (John L. Ligon, Norbert J. Michel, Ph.D. and filip Jolevski, The Heritage Foundation, 12/17).
Don’t Get Too Excited About the Volcker Rule (William Greider, The Nation, 12/12).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Fed 'taper lite' not a moment too soon (The Editorial Board, USA Today, 12/18).
‘Taper’ a bow, Ben (John Crudele, New York Post -- Business, 12/18).
Shiller on Trills (Alex Tabarrok, Marginal Revolution, 12/19).
Fed taper begins—what happens next? (Mohamed El-Erian, CNBC -- The Fed, 12/18).
Gridlock, Fed Taper Say Keynesian Experiment Ending (IBD Editorial, Investors.com, 12/18).
The Fed’s case for tapering is a good sign for the economy (Editorial Board, The Washington Post -- WP Opinions, 12/18).
Bernanke Leaves Yellen With a Massive Migraine (Peter Schiff, RealClearMarkets, 12/19).
Why Do So Many People Hate QE? (Barry Ritholtz, Bloomberg -- Opinion, 12/19).
PUBLIC PENSIONS
NYC’s coming pension crisis (Michael Bloomberg, Daily News, 12/19).


Wednesday, December 18, 2013

In the Water, In the Air: Wednesday, December 18, 2013.



FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
We Just Got One Step Closer to a Budget Deal -- But Now I Need Your Help (Senator Patty Murray, The Huffington Post -- Huff Post Politics, 12/17).
D.C. gets the vapors, calls sequester too much (Charles Hurt, The Washington Times, 12/17).
Budget Bill Passes, Is Headed to President's Desk (Caitlin Huey-Burns, RealClearPolitics, 12/18).
FISCAL FOLLIES -- FEBRUARY/MARCH 2014 DEBT LIMIT
Republicans Compromise on the Budget, but Don’t Expect Them To Compromise on the Debt Ceiling (Eleanor Clift, The Daily Beast -- Politics, 12/18).
ECONOMIC REPORTS
Welfare Rules Databook: State TANF Policies as of July 2012 (David Kassabian, Erika Huber, Elissa Cohan and Linda Giannarelli, Urban Institute, 12/13).
Spending Patterns of Families Receiving Means-tested Government Assistance (Ann C. Foster and William R. Hawk, United States Department of Labor -- Bureau of Labor Statistics -- Beyond the Numbers, December 2013).
ECONOMICS 101
Productivity Up, Future Uncertain (Walter Russell Mead, The American Interest, 12/16).
THE NATURE OF POLITICS
The Next President Won’t Save Us (James Poulos, The Daily Beast -- Politics, 12/18).
REVENUE-SIDE REFORM
Income Tax Deductions for Sales Taxes: A Step Away from Tax Fairness (Citizens for Tax Justice, 12/17).
SPENDING-SIDE REFORM
Is the Safety Net Just Masking Tape? (Thomas B. Edsall, The New York Times -- The Opinion Pages, 12/17).
MIXED-SIDE AND REGULATORY REFORM
Subsidizing Rich and Poor: There are better ways to help workers than the minimum wage (Ike Brannon, The Weekly Standard, 12/23).
What You Missed Amid the Volcker Rule's Finalization (Hester Peirce, RealClearMarkets, 12/18).
MOBILITY AND EQUALITY OF OPPORTUNITY
Inequality Does Not Matter: The poor and the middle class are falling behind, and it has nothing to do with the 1 percent (Kevin D. Williamson, National Review Online, 12/18).
Of 'Equality' and Other Ancient Frauds: The futility of income redistribution (William Murchison, The American Spectator, 12/17).
Obama Is Trying to Fix Inequality by Hiring the Same Hacks Who Caused It (Robert Scheer, The Nation, 12/17).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Fed to taper bond buying by $10 billion a month (JeeYeon Park, CNBC -- The Fed, 12/18).
The Fed should stop the easy money (Chicago Tribune -- Editorials, 12/16).
Fed to Start Unwinding Its Stimulus Next Month (Binyamin Appelbaum, The New York Times -- Business Day Economy, 12/18).
QE: The greatest subsidy to the rich ever? (Robert Frank, CNBC -- Inside Wealth, 12/18).
What Fed tapering means for you: Why investors aren’t the only ones who will feel the pinch (Quentin Fottrell, MarketWatch, 12/18).
The Bernanke Fed's Transparency Has Been Rather Opaque (Joao Gomes, RealClearMarkets, 12/18).
What the Fed meeting could mean for the dollar (Dhara Ranasinghe, CNBC -- Currencies, 12/17).
Fed Monetary Policy Can't Solve Our Economic Ills (William Poole, Investors.com -- Viewpoint, 12/17).
Three reasons the Fed should taper QE3 (Rex Nutting, MarketWatch, 12/17).
LOCAL GOVERNMENT BANKRUPTCY -- DETROIT
Moody's lowers N.J. debt outlook to negative, citing slow recovery (Salvador Rizzo, NJ.com, 12/17).
Who’s Really To Blame for Detroit’s Financial Problems? (David Sirota, In These Times, 12/13).
PUBLIC PENSIONS
Deadbeat Governments (James Surowiecki, The New Yorker -- The Financial Page, 12/23).
GLOBAL ECONOMY
Putin's Conservative State Capitalism (Anders Aslund, The Moscow Times, 12/17).
SOMETHING COMPLETELY DIFFERENT
Earth’s Quietest Place Will Drive You Crazy in 45 Minutes (Smithsonian.com, 12/17).
The Secret of Comedy Really Is Timing (Tom Jacobs, Pacific Standard, 12/17).
Endless fun: The question is not whether we can upload our brains onto a computer, but what will become of us when we do (Michael Graziano, aeon magazine, 12/18).

Tuesday, December 17, 2013

In the Water, In the Air: Tuesday, December 17, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
Senate GOP fails in final bid to restore military pension cuts to budget bill (Fox News -- Politics, 12/17).
Disabled Military Retirees Not Exempt from Pension Cuts in Budget Deal (Elizabeth Harrington, The Washington Free Beacon, 12/17).
Section-By-Section Analysis Of The Bipartisan Budget Act Of 2013 (United States Senate Committee on the Budget -- Republicans, 12/16).
Spending Caps Have Worked, but Ryan-Murray Budget Would Lift Them (Romina Boccia and Michael Sargent, The Foundry, 12/16).
Unemployment Benefits Are Ending for 1.3 Million Americans. What's That All About? (Erika Eichelberger, Mother Jones, 12/17).
ECONOMIC REPORTS
How Britain Returned to Growth (George Osborne, The Wall Street Journal -- Opinion, 12/16).
Economic Freedom and Labor Market Conditions: Evidence from the States (Lauren R. Heller and E. Frank Stephenson, Wiley Online Library, 07/01).
ECONOMICS 101
How Pope Francis Misunderstands the Free Market (Ramesh Ponnuru, Bloomberg -- Opinion, 12/16).
Why conservatives just don't get Pope Francis' anti-poverty crusade (Elizabeth Stoker, The Week, 12/17).
SPENDING-SIDE REFORM
Why do we even need a farm bill? (Charles, The Washington Post -- WP Opinions, 12/16).
Government Blatantly Wastes $30 Billion This Year (Brianna Ehley, The Fiscal Times -- Policy + Politics, 12/17).
"Wastebook" report singles out $30B in federal spending (CBS News -- CBS This Morning, 12/17).
MIXED-SIDE AND REGULATORY REFORM
Low Import Duty Trigger Puts U.S. at a Disadvantage (Philip Finiello, Free Enterprise, 12/16).
It’s Not OK That Your Employees Can’t Afford to Eat (Peter Cappelli, Harvard Business Review -- HBR Blog Network, 12/16).
Making Financial Regulation AntiFragile (Todd Zywicki, Library of Law and Liberty, 12/17*).
First Volcker Victim? Zions Dumping Its Hedge Funds (Matt Levine, Bloomberg, 12/16).
GROWTH AND JOBS
Blame Congress for unemployment (Duncan Black, USA Today, 12/17).
MOBILITY AND EQUALITY OF OPPORTUNITY
How the Inequality/Growth Debate Has Evolved Over Time (On the Economy -- Jared Bernstein Blog, 12/16).
The Case for Worrying About Inequality is Still Overstated (Scott Winship, e21, 12/16).
Who’s Really Waging the Class War? (Bill Moyers, The Nation, 12/12).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Taper or no taper, the Fed will never end QE: Marc Faber (Alex Rosenberg, CNBC, 12/17).
The Stupidest (and most prominent) QE Chart in the World (Cullen Roche, Pragmatic Capitalism, 12/17).
The Fed might taper bond buying this week. Here’s everything you need to know. (Neil Irwin, The Washington Post -- Wonkblog, 12/16).
Why a Fed taper will be good for the economy (Sanjay Sanghoee, CNN Money, 12/17).
LOCAL GOVERNMENT BANKRUPTCY
How One Mayor Pulled Back His City From Potential Bankruptcy (Emily Badger, National Journal, 12/16).
 GLOBAL ECONOMY
India’s Aspirational Volcano (Roger Cohen, The New York Times -- The Opinion Pages, 12/16).

Monday, December 16, 2013

In the Water, In the Air: Monday, December 16, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
In budget deal, a secret reward for Dems (Erik Wasson, The Hill, 12/15).
Budget deal shows the GOP has PTSD (Marc A. Thiessen, The Washington Post / WP Opinions, 12/16).
Budget Deal Faces Uncertain Senate Vote Tuesday (Caitlin Huey-Burns, RealClearPolitics, 12/16).
The Budget Deal Stabilizes Nothing (Gene Epstein, Barron's / Economic Beat, 12/14).
Boehner’s budget good step for GOP future (Linda Chaves, New York Post, 12/13).
Budget deal is just a start (Erskine Bowles and Alan Simpson, Los Angeles Times / Opinion, 12/13).
DEFICITS AND DEBT
Sequester May Have "Governed By Crisis" But It Worked (Editorial, Investors.com, 12/13).
For Paul Ryan And The Republicans, Tomorrow Is The Day That Never Comes (John Tamny, Forbes, 12/15).
FACTION
Nostalgia for the ‘Do-Nothing’ Congress (Albert R. Hunt, Bloomberg / Opinion, 12/15).
ECONOMIC REPORTS
Happy days are here again, and we can thank Obama (Tom Keane, The Boston Globe / Opinion, 12/15).
Do you trust the November jobs report? (Wayne Allyn Root, MarketWatch, 12/16).
ECONOMICS 101
What the Rest Really Should Learn From the West (Pankaj Mishra, Bloomberg / Opinion, 12/15).
THE NATURE OF POLITICS
The Question at the Heart of the Democratic Schism Should the burden of proof be on reformers—or on vested interests? (Noam Scheiber, New Republic, 12/15).
Why Banking Systems Succeed -- And Fail: The Politics Behind Financial Institutions (Charles W. Calomiris and Stephen H. Haber, Foreign Affairs, Nov/Dec 2013).
REVENUE-SIDE REFORM
Tax reformers see hope in budget deal (Bernie Becker, The Hill, 12/15).
MIXED-SIDE AND REGULATORY REFORM
The Volcker Rule: Wins, Losses and Toss-ups (Alexis Goldstein, The Nation, 12/13).
MOBILITY AND EQUALITY OF OPPORTUNITY
Why Inequality Matters (Paul Krugman, The New York Times / Opinion Pages, 12/15).
A Dozen Facts about America's Struggling Lower-Middle Class (The Hamilton Project, December 2013).
Ezra Klein Misses the Mark: Inequality and Unemployment Are the Same Problem (Center for Economic and Policy Research, 12/14).
We Are Not All in This Together (Shamus Khan, The New York Times / The Opinion Pages, 12/14).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Lawrence Summers: Stagflation is not our fate — unless we let it be (Lawrence Summers, The Washington Post / WP Opinions, 12/15).
Has the Fed Been Fueling Bubbles? You Be the Judge (Josh Boak, RealClear, 12/16).
PUBLIC PENSIONS
Deadbeat Governments (James Surowiecki, The New Yorker / The Financial Page, 12/23).
GLOBAL ECONOMY -- JAPAN
Yen to decline by ‘whatever it takes’ to awaken Japan (David Marsh, MarketWatch, 12/16).
GLOBAL ECONOMY -- GERMANY
Germany’s Coming Downgrade (Sylvester Eijffinger and Edin Mujagic, Project Syndicate, 12/16).
GLOBAL ECONOMY -- MEXICO
North America to Drown in Oil as Mexico Ends Monopoly (Joe Carroll and Bradley Olson, Bloomberg / Sustainability, 12/16).
GLOBAL ECONOMY -- THAILAND
Them Ol'middle class Bangkokian blues (Voranai Vanijaka, Bangkok Post / Opinion, 12/15).

Friday, December 13, 2013

In the Water, In the Air: Friday, December 13, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
Budget deal doesn’t alter grim long-term picture (Editorial Board, U-T San Diego, 12/12).
Twilight of the Sequester (Fred Barnes, The Weekly Standard, 12/13*).
The Republican Mainstream Strikes Back (Eugene Robinson, RealClearPolitics, 12/13).
The Biggest Losers (Paul Krugman, The New York Times, 12/12).
The Budget Deal: A Beginning or the End? (Robert Bixby, The Concord Coalition / The (Tab)ulation, 12/12).
There could be happy green news hidden in the budget deal (Ben Adler, Grist, 12/12).
Don’t Be Fooled: The Murray/Ryan Budget Deal Clearly Raises Taxes (Sean Davis, The Federalist, 12/12).
How Paul Ryan Won the Budget War—in 1 Chart (Matthew O'Brien, The Atlantic, 12/13).
ECONOMIC REPORTS
The Most Pro-Capitalism Place to Live in North America Is… (Dan Mitchell, International Liberty, 12/13).
Will 2014 Finally, Really, Truly Bring an End to the Financial Crisis? (Michael Schuman, Time / Business & Money, 12/13).
THE NATURE OF POLITICS
96 Percent Of Americans Are Wrong About Congress (Ezra Klein, The Federalist, 12/13).
How the States Committed Suicide (Paul Moreno, RealClearPolicy, 12/13).
SPENDING-SIDE REFORM
Short Term Farm Bill Extension: Congress Could Do Worse (Christine Harbin Hanson, Americans for Prosperity, 12/12).
Job Protection Isn’t Enough: Why America Needs Paid Parental Leave (Heather Boushey, Jane Farrell and John Schmitt, Center for American Progress, 12/12).
MIXED-SIDE AND REGULATORY REFORM
Here’s how big the left wants to grow government, exactly. And here’s how much it will cost, exactly (James Pethokoukis, AEIdeas, 12/13).
Why the Volcker Rule Will Harm the U.S. Economy (Peter J. Wallison, The American, 12/13).
GROWTH AND JOBS
Americans Won't Be Easily Reassured About the Economy (Charlie Cook, National Journal, 12/12).
GOVERNMENT FINANCE AND FINANCIAL POLICY
This is the biggest mistake people are making about QE now (John Carney, CNBC, 12/13).
What will tapering do to Treasuries? (Daryl Jones, CNN Money, 12/12).
Contempt and Elitism Brought Us the Fed and QE (Jeffrey Snider, RealClearMarkets, 12/13).
LOCAL GOVERNMENT BANKRUPTCY -- DETROIT
3 essential (and ignored) questions about Detroit’s bankruptcy (David Sirota, Salon, 12/12).

PUBLIC PENSIONS
Cheaper pensions: How the math works for employees (Steve Malanga, Public Sector Inc., 12/12).
GLOBAL ECONOMY -- CHINA
This Chinese revolution would change the world (Jeremy Warner, The Telegraph, 12/12).

Thursday, December 12, 2013

In the Water, In the Air: Thursday, December 12, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
John Boehner: Conservative Groups' Reaction to Budget Deal Is 'Ridiculous' (Matt Berman, National Journal, 12/11).
Dems threaten budget deal (Vicki Needham, Mike Lillis and Bernie Becker, The Hill, 12/11).
Budget Deal Is Better Than Nothing for Weakened Obama (Steven T. Dennis, Roll Call, 12/11).
Republicans Get the Better End of the Budget Deal (Megan McArdle, Bloomberg, 12/11).
House approves budget deal, handing major victory to Boehner (Erik Wasson Russell Berman, The Hill, 12/12).
Bipartisan Budget Deal Puts Ryan Under Fire From Fellow Conservatives (Jonathan Weisman, The New York Times, 12/11).
House Passes Budget Bill to Increase Spending, Reverse Some Automatic Cuts (Charlotte Alter, Time / Swampland, 12/12).
Pelosi on budget deal: ‘Embrace the suck’ (Geoff Earle, The New York Post, 12/12).
Durbin: We need GOP votes for deal (Alexander Bolton, The Hill, 12/12).
Republicans and Tea Party Activists in 'Full Scale Civil War' (Abby D. Phillip, ABC News, 12/12).
John Boehner: Conservative Groups Have 'Lost All Credibility' (Matt Berman, National Journal, 12/12).
The Budget Deal and Defense (Max Boot, Commentary, 12/11).
Conservatives are right to be skeptical of Ryan-Murray budget deal (Philip Klein, The Washington Examiner, 12/11).
In budget deal, Republicans buck the purity police (Dana Milbank, The Washington Post / WP Opinions, 12/11).
 A Firm Step Forward (Paul Ryan, National Review Online, 12/11).
The Budget Deal Is a Win for Democrats (Noam Scheiber, New Republic, 12/11).
Budget deal averts crisis; does little else (Editorial, The Detroit News, 12/12).
The Minimalist Budget Deal (The Editorial Board, The New York Times, 12/11).
What is the Impact of the Defense Sequester on the Economy? (Steve Bell, Shai Akabas, Brian Collins and Alex Gold, Bipartisan Policy Center, 12/11).
Heritage Expert Analysis on the Ryan–Murray Budget Deal (Romina Boccia, The Foundary, 12/11).
CBO Score - Bipartisan Budget Act of 2013 (Congressional Budget Office, 12/11).
ATR Analysis of Budget Proposal (Ryan Ellis and Mattie Duppler, Americans for Tax Reform, 12/11).
The Budget Agreement Should Cut Federal Employee Pay, But Not Like This (Josh Barro, Business Insider, 12/11).
A Cruel, Irresponsible and Dysfunctional Budget Deal (John Nichols, The Nation, 12/10).
The Murray-Ryan Budget Deal and the Slow Death of Public Investment (Ben Harris, RealClearMarkets, 12/12).
Ideologues Shouldn’t Torpedo Budget Truce (Jonathan S. Tobin, Commentary, 12/11).
Paul Ryan Gave Away the Sequester, Along With Fiscal Discipline (Wayne Brough, RealClearMarkets, 12/12).
Another Republican budget surrender (Matt Kibbe, The Washington Times, 12/11).
DEFICITS AND DEBT
This Is the Golden Age of Deficit Reduction (Daniel Gross, The Daily Beast, 12/12).
THE STUDY OF LAW
Over-criminalization undermines respect for legal system (John G. Malcolm and Norman L. Reimer, The Washington Times, 12/11).
REVENUE-SIDE REFORM
The Tax Draft Of Sen. Max Baucus Amounts To Legalized Wealth Confiscation (Scott A. Hodge, Forbes, 12/11).
SPENDING-SIDE REFORM
The Gush of Subsidies and the College Wonderfall (Adam C. Smith, RealClearPolicy, 12/12).
MIXED-SIDE AND REGULATORY REFORM
Real Family Values: Raising the Federal Minimum Wage (Jack Jenkins, Center for American Progress, 12/10).
GROWTH AND JOBS
An Economic Detective Story: Solving the Mystery of Unexpectedly Strong U.S. GDP Growth (Political Calculations, 12/12).
World Led by U.S. Poised for Fastest Growth Since 2010 (Rich Miller and Simon Kennedy, Bloomberg / Personal Finance, 12/12).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Will the market actually cheer tapering? (Jesse Solomon, CNN Money, 12/12).
GLOBAL ECONOMY -- CHINA
China’s Shadow Currency (Matthew Lowenstein, The Diplomat, 12/12).
GLOBAL ECONOMY -- BRITAIN
Britain's negotiating hand in Europe has never been as strong before (Ambrose Evans-Pritchard, The Telegraph, 12/11).
GLOBAL ECONOMY -- WTO
The WTO Is Back -- for Now (Jean-Pierre Lehmann, RealClearWorld, 12/12).
GLOBAL ECONOMY -- JAPAN
Abenomics’ half success (Editorial, Korea JoongAng Daily, 12/11).
Japan's Morally Troubled Revival (Robert Kaplan, RealClearWorld, 12/12).
GLOBAL ECONOMY -- IRELAND
Hardships Linger for a Mending Ireland (Liz Alderman, The New York Times, 12/11).

Wednesday, December 11, 2013

In the Water, In the Air: Wednesday, December 11, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
Ryan-Murray Budget Deal Replaces Real Spending Restraint of Sequester with Budget Gimmicks and Back-Door Tax Hikes (Dan Mitchell, International Liberty, 12/11).
A Least Bad Budget Deal: More spending now for some genuine, if modest, reforms (The Wall Street Journal, 12/10).
Can Paul Ryan Put Down a Revolt From the Right? (Billy House, Tim Alberta and Sarah Mimms, National Journal, 12/10).
Today’s Budget Agreement: Good Politics, Maybe, But Not Good Policy (John Hinderaker, Powerline, 12/10).
Thanks, Patty Murray and Paul Ryan. You Did Your Job. Finally. (Eleanor Clift, The Daily Beast, 12/10).
Here’s what’s in Paul Ryan and Patty Murray’s mini-budget deal (Ezra Klein, The Washington Post, 12/10).
Stockman: Budget deal a 'joke and betrayal' (Jeff Morganteen, CNBC, 12/11).
Key Vote NO on the Ryan/Murray Budget Deal (Matt Kibbe, FreedomWorks, 12/10).
U.S. budget deal could usher in new era of cooperation (Richard Cowan and David Lawder, Reuters, 12/11).
Should Congress hike your taxes … or, instead, slash spending? (Andy Koenig, The Washington Times, 12/10).
Piling on the Murray-Ryan budget deal (Doyle McManus, The Los Angeles Times, 12/11).
DEFICITS AND DEBT
Deficit Reduction: Far Less Than Meets the Eye (Tom Blumer, The Fiscal Times, 12/10).
THE NATURE OF POLITICS
Why the Third-Party Dream Remains Just That (Scott Conroy, RealClearPolitics, 12/12).
SPENDING-SIDE REFORM
This 'Doc Fix' Would Be Bad for Your Health (Scott Gottlieb, The Wall Street Journal, 12/11).
MIXED-SIDE AND REGULATORY REFORM
Volcker Rule a Costly Way to Solve a Non-Problem (Satya Thallam and Sam Batkins, American Action Forum, 12/10).
What is the Volcker Rule? (Wallace C. Turbeville, Demos, 12/09).
Who met most with regulators to try to shape the Volcker Rule? The big banks, of course (Lee Drutman, Sunlight Foundation, 12/10).
Water Does Run Down Hill After All (Don Boudreaux, Cafe Hayek, 12/10).
Good intentions, bad policy: Opposing view (Douglas J. Elliott, USA Today, 12/09).
Volcker Rule should bring some order to financial reform (Editorial Board, The Washington Post, 12/10).
MOBILITY AND EQUALITY OF OPPORTUNITY
Is income inequality the new climate change? (James Pethokoukis, AEIdeas, 12/10).
Does Rising Inequality Make Us Hardhearted? (Thomas B. Edsall, The New York Times, 12/10).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Central banks will move goal posts to keep QE forever (Matthew Lynn, MarketWatch, 12/11).
PUBLIC PENSIONS -- DETROIT
How significant will Detroit be for public pension policy? (Steve Eide, Public Sector Inc., 12/10).
GLOBAL ECONOMY -- CHINA
Can China escape its demographic bind? (Paul French, East Asia Forum, 12/10).
GLOBAL ECONOMY -- EUROPE
Why it’s misguided to treat the eurozone crisis as a morality tale about “lazy” southerners (Mehdi Hasan, New Statesman, 12/09).
Despite the economic misery of the last five years, Europe remains a success story…as Malta’s passport sale clearly demonstrates (Hamish McRae, The Independent, 12/10).

Tuesday, December 10, 2013

In the Water, In the Air: Tuesday, December 10, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
Budget deal is sealed (Russell Berman, Erik Wasson and Mike Lillis, The Hill, 12/10).
House, Senate negotiators reach budget deal (Lori Montgomery, The Washington Post, 12/10).
DEFICITS AND DEBT
Five Good Ideas for a Budget Deal (FixGov blog / Brookings Institution, RealClearPolicy, 12/09).
ECONOMIC REPORTS
Is This Time Different? The Slowdown in Healthcare Spending (Amitabh Chandra, Jonathan Holmes and Jonathan Skinner, The National Bureau of Economic Research, 12/11).
Why has the US recovery been so slow? This chart suggests it’s not because of Obamanomics (James Pethokoukis, AEIdeas, 12/11).
Bailing out General Motors cost the US government $11 billion and it was worth every penny (Tim Fernholz, Quartz, 12/10).
Why the Rent Feels Too Damn High—in 1 Graph (Jordan Weissmann, The Atlantic, 12/09).
More Americans are stuck in housing purgatory (Nin-Hai Tseng, CNN Money, 12/10).
Why Is Everybody Sitting on Huge Piles of Cash? (Barry Ritholtz, Bloomberg, 12/10).
ECONOMICS 101
Health Care's Third-Party Spending Trap: Contrary to "conventional wisdom," health insurance—private or otherwise—does not make health care more affordable (Jeffrey A. Singer, Reason.com, 12/10).
THE NATURE OF POLITICS
Why Machiavelli Still Matters (John T. Scott and Robert Zaretsky, The New York Times, 12/09).
REVENUE-SIDE REFORM
Paying for “Tax Extenders” Would Shrink Projected Increase in Debt Ratio by One-Third (Chuck Marr and Nathaniel Frentz, Center on Budget and Policy Priorities, 12/09).
Expiring State and Local Tax Deduction: State Impact (Jeremy Ratner, The Pew Charitable Trusts, 12/09*).
ATR Supports Permanent End to Annual Medicare Doctor Bailout (Ryan Ellis, Americans for Tax Reform, 12/09).
SPENDING-SIDE REFORM
Rep. Tim Griffin — Standing Athwart ‘Pacman’ Yelling ‘Stop’ (Andrew Stiles, Doublethink Online, 12/09).
MIXED-SIDE AND REGULATORY REFORM
Republicans Are Right: Obamacare Is Redistribution (Jonathan Cohn, New Republic, 12/09).
Mandating higher minimum wage will hurt employees and economy (Steve Caldeira, The Hill, 12/09).
The Minimum Wage Ain’t What It Used to Be (David Neumark, Economix / The New York Times, 12/09).
Raise the Federal Minimum Wage (But Not Too Far) (Richard Posner, The Becker-Posner Blog, 12/08).
How to Really Rein in the Banks (Hester Peirce, US News & World Report, 12/09).
If We're Lucky Volcker Rule Will Make Banks Less Transparent (Matt Levine, Bloomberg, 12/09).
Will the Volcker Rule crush Goldman Sachs? (Stephen Gandel, CNN Money, 12/09).
Volcker Rule Is a Puzzle That Will Take Years to Understand (Rana Foroohar, Time / Business & Money, 12/10).
GROWTH AND JOBS
Obama can't solve the jobs problem (Glenn Harlan Reynolds, USA Today, 12/09).
How to Keep Workers Unemployed (The Wall Street Journal, 12/11).
The Real Jobless Rate (Gene Epstein, Barron's, 12/07).
Sorry Henry Blodget, The Rich DO Create Nearly Every Job (John Tamny, RealClearMarkets, 12/10).
Unemployment: Who’s the Real Scrooge? (Jonathan S. Tobin, Commentary, 12/10).
Rand Paul Gets the Scrooge Award (Ruth Marcus, RealClearPolitics, 12/11).
Krugman's Unemployment Answer Stares Him In the Face (Diana Furchtgott-Roth, RealClearMarkets, 12/10).
MOBILITY AND EQUALITY OF OPPORTUNITY
Inequality: Obama picks the wrong war (Rich Lowry, The New York Post, 12/09).
GOVERNMENT FINANCE AND FINANCIAL POLICY
‘Seven percent solution’ backs Bernanke into a corner (John Crudele, The New York Post, 12/09).
Get ready, here it comes: A December taper (Steve Liesman, CNBC, 12/10).
PUBLIC PENSIONS -- ILLINOIS
Robbing Illinois's Public Employees (David Dayen, The American Prospect, 12/09).
GLOBAL ECONOMY -- CHINA
Think American Debt Is Bad? Try China (Benjamin Carlson, RealClearWorld, 12/10).
GLOBAL ECONOMY -- BRITAIN
Let's admit it: Britain is now a developing country (Aditya Chakrabortty, The Guardian, 12/09).

Monday, December 9, 2013

In the Water, In the Air: Monday, December 09, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
Budget deal expected this week amounts to a cease-fire as sides move to avert a standoff (Lori Montgomery, The Washington Post, 12/08).
Analysis: U.S. budget deal could bring truce, minimize shutdown threats (David Lawder and Richard Cowan, Reuters, 12/08).
DEFICITS AND DEBT
Stanley Druckenmiller: An Unsustainable Financial Situation (RealClearPolitics, 12/09).
Why Congress Needs a New Budget Process (Patrick Louis Knudsen, The Heritage Foundation, 12/05).
POLITICAL STUDIES
Why Government Institutions Fail to Deliver on Their
Promises: The Public Choice Explanation
(Veronique De Rugy, Mercatus Center -- George Mason University, 12/04).
ECONOMIC REPORTS
Heritage Employment Report: Slow Recovery Continues in November (James Sherk and Salim Furth, Ph.D., The Heritage Foundation, 12/06).
The Distribution of Household Income and Federal Taxes, 2010 (Congressional Budget Office, 12/04).
Curb Your Enthusiasm About An Improved Jobs Market (Louis Woodhill, RealClearMarkets, 12/09).
ECONOMICS 101
The Gospel According to JCPenney (Michale Gerson, RealClearPolitics, 12/10).
Are You Riding the Gravy Train? (Steve Tobak, Fox Business, 12/09).
SPENDING-SIDE REFORM
America’s clash of generations is inevitable (Robert J. Samuelson, The Washington Post, 12/08).
Making the poor — and the U.S. — poorer still (Robert E. Rubin, Roger C. Altman and Melissa Kearney, The Washington Post, 12/08).
Wage subsidies (Noah Smith, Noahpinion, 12/07).
The sequester really was a good idea (Tyler Cowen, Marginal Revolution, 12/09).
The Punishment Cure (Paul Krugman, The New York Times, 12/08).
The Facts Are In, More Government Means Less Growth (Jeffrey Dorfman, RealClearMarkets, 12/09).
By George, Britain’s Austerity Experiment Didn’t Work! (John Cassidy, The New Yorker, 12/07).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Bank on it: The Fed is a friend (Michael ivanovitch, CNBC, 12/08).
The Fed’s scandalous monetary policy (Scott S. Powell, The Washington Times, 12/08).
Free Money! Then Free The Rest Of The Economy (Harry Binswanger, Forbes, 12/05).
GLOBAL ECONOMY
As Democracy Grows So Does Global Corruption (Patrick Smith, The Fiscal Times, 12/09).
Why the Trade Deal in Bali Was a Game-Changer (Daniel W. Drezner, Foreign Policy, 12/09).
GLOBAL ECONOMY -- IRELAND
Irish exodus casts shadow on recovery from financial crisis (Jamie Smith, Financial Times, 12/09).
Cheer Up: World Growth Is Accelerating (Jim O'Neill, Bloomberg, 12/08).
GLOBAL ECONOMY -- GREECE
Greece's Dismal Demographics (Nikos Konstandaras, The New York Times, 12/09).
LOCAL GOVERNMENT BANKRUPTCY
In Shepherding Detroit Bankruptcy, Lawyer Tackles a Job He Didn’t Ask For (Monica Davey and Bill Vlasic, The New York Times, 12/08).
MOBILITY AND EQUALITY OF OPPORTUNITY
When is inequality harmful? When it's caused by cronyism (Timothy P. Carney, The Washington Examiner, 12/06).
The Great MacGuffin (Mickey Kaus, The Daily Caller, 12/09).
Income Inequality’s Ripple Effect (John Podesta, Politico Magazine, 12/09).
The myth of the American Dream (Steve Hargreaves, CNN Money, 12/09).
FACTION
America’s Partisan Peril (Mohamed A. El-Erian, Project Syndicate, 12/09).

Thursday, December 5, 2013

In the Water, In the Air: Thursday, December 05, 2013.


FISCAL FOLLIES -- DECEMBER 2013 CONTINUING RESOLUTION
Budget Deal Looks Likely, But Passage Uncertain (Meredith Shiner, Roll Call, 12/04).
ECONOMIC REPORTS
Sorry, the U.S. Growth Surge Is Just a Blip (Peter Coy, Bloomberg Businessweek, 12/05).
ECONOMICS 101
Keynesians Revive a Depression Idea (Caroline Baum, Bloomberg, 12/04).
Papal Bull: Why Pope Francis Should Be Grateful For Capitalism (Louis Woodhill, Forbes, 12/04).
REVENUE-SIDE REFORM
Why Should the Tax Code Favor Commuters Who Drive? (Citizens for Tax Justice, 12/04).
Reform the Research Tax Credit -- Or Let It Die (Citizens for Tax Justice, 12/04).
SPENDING-SIDE REFORM
Pandering to seniors over Social Security (Charles Lane, The Washington Post, 12/04).
Three Quick Notes on the Basic Income (Matt Bruenig, Demos, 12/04).
The Great Recession, tax policy, and the future of charity in America (Arthur C. Brooks, AEI, 12/03).
MIXED-SIDE AND REGULATORY REFORM
The Problem With 'Job Creation' (James Huffman, Defining Ideas, 12/04).
Americans Want a Great Big Increase in the Minimum Wage (John Nichols, The Nation, 12/05).
GOVERNMENT FINANCE AND FINANCIAL POLICY
We Were Right: QE Can't Cure Our Economy (E21, 12/04).
HOUSEHOLD FINANCE -- STUDENT DEBT
The Student Loan Debacle: a Clear Moral Hazard (Gary Jason, Minding the Campus, 12/03).
GLOBAL ECONOMY -- GLOBAL CURRENCY
Age of Austerity Nearing End May Boost Global Economy (Simon Kennedy, Bloomberg, 12/05).
LOCAL GOVERNMENT BANKRUPTCY -- DETROIT
A wake-up call from Detroit (The Times editorial board, Los Angeles Times, 12/04).

In Detroit, there's just no money (Nolan Finley, The Detroit News, 12/05).
Who Really Betrayed Detroit? (Steven Malanga, City Journal, 12/04).
Why Detroit Needs Bankruptcy (Stephen Eide, Politico Magazine, 12/04).
What Michigan and Suburbanites Owe Detroit (Frank H. Shafroth, Bloomberg, 12/04).
MOBILITY AND EQUALITY OF OPPORTUNITY
Obama: 'Profoundly unequal' economy a 'fundamental threat' (Justin Sink, The Hill, 12/04).
Obama’s big inequality speech: short on facts and vision (James Pethokoukis, AEIdeas, 12/06).
Why Obama Can't Rescue the Middle Class (Eric Pianin, The Fiscal Times, 12/05).
The President on Inequality (The Editorial Board, The New York Times, 12/04).
The War of the Wages (The Wall Street Journal, 12/05).
Obama’s Shallow Inequality Speech And The Presidency That Might Have Been (Ben Domenech, The Federalist, 12/05).
Presidential economics (Russ Roberts, Cafe Hayek, 12/04).
FACTION
Segregation by Culture (Claude S. Fischer, Boston Review, 12/04).

Wednesday, December 4, 2013

In the Water, In the Air: Wednesday, December 04, 2013.


FISCAL FOLLIES: DECEMBER 2013 CONTINUING RESOLUTION
Government shutdown part 2? Democrats line up against stopgap spending bill (Mike Lillis and Erik Wasson, The Hill, 12/03).
FISCAL FOLLIES: FEBRUARY/MARCH 2014 DEBT LIMIT
Why the Next Debt Limit Debacle Might be Worse (Ben Harris, Tax Policy Center, 12/03).
DEFICITS AND DEBT
Washington Is In Denial About the Budget Deficit (Ron Haskins, RealClearMarkets, 12/04).
ECONOMIC REPORTS
Slate Writer Is Dead Wrong to Root Against Community Banks (Rob Blackwell, American Banker, 12/03).
ECONOMICS 101
War on the Poor: The welfare state has eroded the culture of individual initiative (John C. Goodman, Ph.D., Psychology Today, 12/03).
Where Is the Love? (Nicholas D. Kristof, The New York Times, 11/27).
Is Poverty Really The Result Of Bad Luck? (John Goodman, Forbes, 12/03).
What the Pope Got Right About Capitalism (Robert Scheer, The Nation, 12/03).
Pope Francis Is No Economist (Bill Frezza, Forbes, 12/03).
Love the poor? Pope called a commie for obeying Jesus (Al Lewis, MarketWatch, 12/04).
REVENUE-SIDE REFORM
The Corporate Tax Rate Debate: Lower Taxes on Corporate Profits Not Linked to Job Creation (Center for Effective Government, MonthSlashDay).
Give Families’ Second Earners a Break (Peter R. Orszag, Bloomberg, 12/03).
Big picture on corporate tax reform (Walter Glavin, The Hill, 12/03).
MIXED-SIDE AND REGULATORY REFORM
Left and Right Are Both Wrong About Regulation (Cass R. Sunstein, Bloomberg, 12/03).
Minimum Wage Boosters Don't Know Basic Economics (Diana Furchtgott-Roth, RealClearMarkets, 12/04).
GOVERNMENT FINANCE AND FINANCIAL POLICY
Credit Bubble Bulletin: Fed fails to learn (Doug Noland, Asia Times, 12/02).
HOUSEHOLD FINANCE -- STUDENT DEBT
Students Blame Colleges for Debt Woes (Quick Takes, Inside Higher Ed, 12/04).
GLOBAL ECONOMY
What’s the Problem With Advanced Economies? (Kenneth Rogoff, Project Syndicate, 12/04).
PUBLIC PENSIONS -- ILLINOIS
Long way to go after pension deal (Editorial, Chicago Sun-Times, 12/03).
LOCAL GOVERNMENT BANKRUPTCY
Detroit Is Bankrupt: What Now? (Anna Clark, Pacific Standard, 12/03).
Detroit Bankruptcy Bankrupts Democracy (John Nichols, The Nation, 12/03).
Lesson from Detroit: Get ready for more muni mess (Jeff Cox, CNBC NetNet, 12/04).
MOBILITY AND EQUALITY OF OPPORTUNITY
Rand Paul offers 'Freedom Zones' to save bankrupt Detroit (Paul Bedard, Washington Examiner, 12/04).
About the Demos/Rockefeller convening on New Economic Paradigms (Demos).
FACTION
The Center Cannot Hold (Thomas B. Edsall, The New York Times, 12/03).

Tuesday, December 3, 2013

In the Water, In the Air: Tuesday, December 03, 2013.


DEFICITS AND DEBT
The Next GOP Crackup?: Republican spenders want to break the annual budget caps (The Wall Street Journal, 12/03).
ECONOMIC REPORTS
America's Microbank Problem (Matthew Yglesias, Slate, 12/02).
No, America Doesn’t Have Too Many Banks (Sean Davis, The Federalist, 12/03).
ECONOMICS 101
Nationality Swapping: The Latest Craze Of The World’s Ultra Rich (Tara Loader Wilkinson, Wealth-X, 11/20).
Robert Bartley's 'The Seven Fat Years' - One of the Greatest Economics Books Ever Written (John Tamny, RealClearMarkets, 12/03).
REVENUE-SIDE REFORM
Please, there is a better way to help workers than the minimum wage, and everybody knows it (James Pethokoukis, AEIdeas, 12/03).
Primer: Minimum Wage and Combating Poverty (Ben Gitis, American Action Forum, 12/03).
SPENDING-SIDE REFORM
Please, there is a better way to help workers than the minimum wage, and everybody knows it (James Pethokoukis, AEIdeas, 12/03).
GLOBAL ECONOMY
The Coming Global Wealth Tax: Indebted governments may soon consider a big one-time levy on capital assets (Romain Hatchuel, The Wall Street Journal, 12/03).
America's greatest export is its debt (Frances Coppola, The Week, 12/03).
GLOBAL ECONOMY -- JAPAN
Japan in a Post-Growth Age (Norihiro Kato, The New York Times, 12/02).
PUBLIC PENSIONS
Detroit Pensions: Unsafe at Any Speed? (Megan McArdle, Bloomberg, 12/02).
MOBILITY AND EQUALITY OF OPPORTUNITY
Training for Success: A Policy to Expand Apprenticeships in the United States (Ben Olinsky, Center For American Progress, 12/02).
Getting Back to Full Employment: A Better Bargain for Working People (Jared Bernstein and Dean Baker, Center for Economic and Policy Research).
FACTION -- GRIDLOCK
The Congress that would rather fight than pass bills (Editorial Board, The Washington Post, 12/02).

Monday, December 2, 2013

In the Water, In the Air: Monday, December 02, 2013.


DEFICITS AND DEBT
US and European governments gained $1.6 trillion from low interest rates on the backs of over 50 year old savers and pensions (Brian Wang, Next Big Future, 12/01).
ECONOMIC REPORTS
Tally of U.S. Banks Sinks to Record Low: Small Lenders Are Having the Hardest Time With New Rules, Weak Economy and Low Interest Rates (Ryan Tracy, The Wall Street Journal, 12/02).
ECONOMICS 101
A JP Morgan economist (in effect) responds to Pope Francis (James Pethokoukis, AEIdeas, 12/02).
We Have a Failure of Economic Vocabulary (Robert Samuelson, RealClearMarkets, 12/02).
REVENUE-SIDE REFORM
CEOs want you -- to fix the debt (Scott Klinger, Los Angeles Times, 12/01). 
A Value-Added Tax Plan All Sides Can Embrace (Albert R. Hunt, Bloomberg, 12/01).
Which Corporate Taxation for America? (Laura Tyson, Eric Drabkin and Ken Serwin, Project Syndicate, 11/30).
Internet sales tax would level start-ups: Opposing view (Steve DelBianco, USA Today, 11/28).
GOVERNMENT FINANCE AND FINANCIAL POLICY
The QE Postmortem Delivered Ex Ante (Vince Foster, Minyanville, 12/02).
GLOBAL ECONOMY -- CHINA
America’s Role as Consumer of Last Resort Goes Missing (Simon Kennedy, Bloomberg, 12/02).
GLOBAL ECONOMY -- EUROPE
Are Europeans Giving Up on Europe? (Moises Naim, The Atlantic, 11/29).
GLOBAL ECONOMY -- CHINA
Will a Rising China Be a Responsible China? (Frank Ching, RealClearWorld, 12/02).
Is China Trading a Fly Zone for a Growing Economy? (Patrick Smith, The Fiscal Times, 12/02).