Secondary Sources: Germany on Greece, Deficit Promises, All You Can Eat
A roundup of economic news from around the Web.
Vital Signs: Jump in Home Sales
Existing-home sales rose 3.4% from March to a seasonally adjusted annual rate of 4.62 million units, ending two months of declines.
Links for 2012-05-23
Let's All Devalue Against Each Other - Paul Krugman Creating Jobs Wasn’t Romney’s Job - NYTimes.com State Dependence and Fiscal Multipliers - Econbrowser The Crisis of European Democracy - Amartya Sen US fiscal cliff hangs over a pile of recessionary...
Do Market Economies Make Us "Greedy, Selfish, and Amoral"?
Herb Gintis replies to an essay essay by Michael Sandel on how markets crowd out morality (other replies): ... By focusing on the marketability of particular things, Sandel misses the larger effect of an economy regulated by markets on the...
Fed Watch: Calm Before the Storm?
Tim Duy: Calm Before the Storm?, by Tim Duy: A relatively calm start to the week. Can it last? Almost certainly not. It will get worse before it gets better. A few themes popped since last Friday that are worth...
Tax Cuts Disguised as Reform
No matter what Republicans say, always remember the ultimate goal is more tax cuts for their supporters: Don’t let Congress fast-track another tax cut, Andrew Fieldhouse: House Speaker John Boehner’s (R-Ohio) high-profile speech at last week’s 2012 Fiscal Summit garnered...
A Different Light
One unspoken but key assumption of those who foresee a return to economic normalcy -- which many seem to believe is already underway -- is that the behavioral patterns that emerged in the wake of the worst financial crisis this...
Auto Industry Rebound Fires Animal Spirits
A survey of some 200 auto industry executives by Booz & Co. finds that 94% of the auto maker executives and 92% of automotive-technology-supplier executives are bullish.
San Francisco Fed Paper May Shed Light on QE View
The limited resources that U.S. banks apply to residential lending could keep them from matching lower rates in the mortgage bond market for "some time," according to a San Francisco Fed study of central bank asset-purchase programs.
New Way to Sort Money Lengthens Lifespan of Bills
Paper money will last 10 months longer before it wears out, thanks to a new and faster method of sorting currency that doesn't automatically destroy bills processed face-side down.
Ten of 12 Regional Fed Banks Vote for Flat Discount Rate
Fed officials noted “further improvement in economic activity” and expected growth would continue at a “moderate pace,” but expressed concern over global financial risks and uncertainty over the U.S. budget policy, according to minutes of disco...
"The Irresponsibility of Speaker John Boehner"
Stan Collender is very unhappy with John Boehner: The Irresponsibility of Speaker John Boehner, by Stan Collender: ...Speaker John Boehner’s (R-Ohio) choreographed events last week in which he repeatedly said he would prevent the debt ceiling increase that will be...
