Submitted by CARPE DIEM

The contribution of net exports of goods and services to real GDP growth in the third quarter was revised upward to 1.37% (from the original estimate of 0.90%), and contributed to half of the 1% upward revision of real GDP growth from 3.9% to 4.9%. Further, it was the largest percent contribution […]

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Submitted by Businomics Blog
We have too many new homes on the market. Take a look. (This chart shows new homes for sale that are either finished or under construction. The Census Bureau also counts houses on which construction has not begun. To me, that’s counting some developer’s hopes and dreams. […]

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Submitted by A Dash of Insight
Another post from the road…
Every trading system has a time frame. What works for short-term trading may be completely wrong for longer-term methods. In the extreme volatility of the last two weeks, we are sure there are some traders who are buying every dip and selling every rally. […]

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Submitted by The Capital Spectator
The economy may or may not be slowing, but it’s clear that the stock market still loves the idea of lower interest rates.
Exhibit A is yesterday’s commentary from one Fed vice chairman. “Uncertainties about the economic outlook are unusually high right now,” Don Kohn advised the Council on Foreign Relations yesterday, […]

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Submitted by Econbrowser
Back in 2005, Jeff Frankel and I presented a series of projections about the dollar’s role as the world’s dominant reserve currency. We concluded:
…Whether the euro might in the future rival or surpass the dollar as the world’s leading international reserve currency appears to depend on two things: (1) do enough other EU […]

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Submitted by CARPE DIEM

WASHINGTON (MarketWatch) — The U.S. economy expanded at the fastest pace in four years during the third quarter, growing at a real annual rate of 4.9%, the Commerce Department reported today in making its second estimate of growth for the three-month period.
The 4.9% growth rate during the summer of 2007 was only […]

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Submitted by unsettling economics
I am writing this paper for a seminar I will give at Yale. Any comments would be appreciated. It still needs work.
yale.doc
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Submitted by CARPE DIEM
Prayers in school, sex education and “intelligent design” are contentious school issues. I believe parents should have the right to decide whether their children will say a morning prayer in school, be taught “intelligent design” and not be given school-based sex education. I also believe other parents should have the right not […]

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Submitted by CARPE DIEM
The writers’ strike basically shapes up as a couple of third cousins at Thanksgiving dinner arguing over who gets a slightly larger slice of the billion dollar pumpkin pie: the writers who create the movies and shows, or the corporations who actually take all the financial risk that allows us Hollywood writers […]

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Submitted by CARPE DIEM
There’s an old newspaper saying, attributed to Lewis Grizzard, that “Being a newspaper columnist is like being married to a nymphomaniac. Every time you think you’re through, you have to start all over again.”
I think the same could be said for being a blogger.
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Submitted by CARPE DIEM

The charts above were created using the most recent banking data from 8,560 FDIC-insured banks, throught the third quarter 2007, showing that:
1. Total assets of commercial banks increased by a record $446.3 billion (3.6%) to $12,707 billion, eclipsing the previous quarterly high of $331.6 billion set in the first quarter of 2006 […]

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