Thursday, January 10, 2013

Morning Journal--Why the level of US may not be a problem

Economics

   This Week’s Data

            Weekly jobless claims rose 4,000 versus expectations of a 5,000 decline.

   Other

            Here is a thoughtful article on the US debt and deficit and why they are not that as big a problem as some make them out to be---though at the very end the author acknowledges the negative impact of investment and production.  I don’t agree with all of his arguments, but his thesis is a prescription for the historically below average future economic growth outlined in our forecast.  It is a piece worth reading (medium and today’s must read):

            Why Basel III is a bad idea (medium):

Politics

  Domestic

The new liberal aristocracy (medium):

            Obama and the Deepwater Horizon accident (medium):

            Biden implies threat of gun control by executive order (short):

  International War Against Radical Islam

            More on the Hagel nomination (medium):
            And (medium):

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