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As Measured by the Five-Year Inflation Breakeven...

...the U.S. economy today is further from "normalization"--understood as a 2%/year breakeven inflation rate in financial markets--than it was in June 2012, just before Bernanke began talking about "unwinding" and triggered Ms Market's...Show More Summary

Dylan Byers "I’ve Had Enough Of You Water-Drinking, Air-Breathing Urban Elitists" Edition: Hoisted from the Internet from Two Years Ago

As a follow up to Politico's embrace of BP, a correspondent reminds me of Politico from two years ago. Scott Lemieux does the garbage cleanup: >I’ve Had Enough Of You Water-Drinking, Air-Breathing Urban Elitists: [M]y favorite part of the Politico’s war on Nate Silver. Show More Summary

DataQuick: California Foreclosure Starts Lowest Since 2005

From DataQuick: Golden State Foreclosure Starts Continue to DeclineLending institutions initiated formal foreclosure proceedings last quarter on the lowest number of California homes in more than eight years, the result of a recovering...Show More Summary

Morning Must-Read: David Wessel: Lousy Economic Growth Is a Choice, Not an Inevitability

David Wessel: [Lousy Economic Growth Is a Choice, Not an Inevitability]( "The notion that all this is inevitable and economic policy has done all that it can do... Show More Summary

Liveblogging World War II: October 23, 1944: Battle of Leyte Gulf

Wikipedia: [Battle of Leyte Gulf]( >As it sortied from its base in Brunei, Kurita's powerful 'Center Force' consisted of five...Show More Summary

LA area Port Traffic in September: Imports Highest since 2006, Exports Soft

Container traffic gives us an idea about the volume of goods being exported and imported - and possibly some hints about the trade report for September since LA area ports handle about 40% of the nation's container port traffic.The following...Show More Summary

Hoisted from the Archives from Four Years Ago: What is Happening with Bond Prices?

Hoisted from the Archives from Four Years Ago: [What is Happening with Bond Prices? (Brad DeLong's Grasping Reality...)][ref]: It is very hard to have a bubble in bonds because there is a date certain at which the principal is repaid. Show More Summary

BLS: Thirty-one States had Unemployment Rate Decreases in September

From the BLS: Regional and State Employment and Unemployment SummaryRegional and state unemployment rates were generally little changed in September. Thirty-one states had unemployment rate decreases from August, 8 states had increases, and 11 states and the District of Columbia had no change, the U.S. Show More Summary

Compulsory Attendance IVs Reconsidered

(October 24, 2014 12:02 AM, by Bryan Caplan) Using compulsory attendance laws to estimate the causal effect of education on outcomes has been hot in economics for over a decade. But I was always a skeptic. The idea that minimum schooling leaving laws are exogenous is bizarre, yet... (0 COMMENTS)

Global stocks rattled by Ebola case in New York

Dow Jones futures fell 0.3 percent, erasing some of the losses from earlier in the day; S&P 500 futures dropped 0.4 percent

Noted for Your Morning Procrastination for October 22, 2014

Over at [Equitable Growth]([The Equitablog]( [For Thursday: Josh Bivens, Brad DeLong, Jeff Madrick, Ylan Mui: How Mainstream Economic Thinking Imperils America - Washington...Show More Summary

A Few Comments on September Existing Home Sales

A few comments...• Once again housing economist Tom Lawler's forecast of 5.14 million SAAR was closer than the consensus (5.05 million) to the NAR reported sales (5.17 million). It is getting harder for Lawler to beat the "consensus"...Show More Summary

IMF's Loungani: Demand for Labor is Downward-Sloping

(October 23, 2014 04:45 PM, by David Henderson) I was on the road from Sunday a.m. to late last night and thus my sparser than usual blogging. I taught classes in Patuxent River, MD on Monday, Norfolk, VA on Tuesday, and Arlington, VA on Wednesday, with lots of... (8 COMMENTS)

While written about popular book publishing, the same can be said for academic book publishing

At the risk of biting a hand that fed me a tiny morsel, here's an interesting take on the Amazon/Hachette book fight. To me, the interesting piece here is the question of value-added. What value does the publisher add to the publishing process? In the traditional book purchasing paradigm, when...

Did You Know That "Irk" Makes a Synonym of Itself in Rot13?: Live from Crows Coffee

Stolen from My quality of life is diminished by the fact that I am not a fluent reader of rot13. Is there a good online drill site?

Existing Home Sales in September: 5.17 million SAAR, Inventory up 6.0% Year-over-year

The NAR reports: Existing-Home Sales Rebound in SeptemberTotal existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million in September from 5.05 million in August. Show More Summary

The great sin, the even greater sin, and the enlightened path

(October 23, 2014 02:49 PM, by Scott Sumner) The title is my pathetic attempt to imitate Miles Kimball and Noah Smith, who sometimes post on religion. This won't be about religion; it's about monetary policy. Oh wait... In the 1970s, US policymakers knew that inflation... (5 COMMENTS)

I really like when non-economists sound like economists--it means economic thinking is permeating everyday discussions

I've been a fan of Mike Rowe since his early days on the Discovery Channel's 'Dirty Jobs.' I don't always agree with his political views, but he's entertaining. He has a new show on CNN called 'Somebody's Gotta Do it,' where he highlights what seem to many like odd jobs....

Liveblogging World War II: October 22, 1944: Leyte Gulf: Background

[Battle of Leyte Gulf: Background]( >On 12 October 1944, the US 3rd Fleet under Admiral Halsey began a series of carrier raids against Formosa and the Ryukyu Islands, with a view to ensuring that the aircraft based there could not intervene in the Leyte landings. Show More Summary

Tuesday: Existing Home Sales

From Dina ElBoghdady at the WaPo: How a top housing regulator plans to make it easier to get a mortgage. Excerpts: It’s unclear if Watt's downpayment plan will do much to ease access to credit. The average downpayment remains lower today than it was in more normal, pre-housing bubble times, said Sam Khater, chief deputy economist at CoreLogic. Show More Summary

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