21 | February | 2013

Saturday, May 25, 2013

Quotation of the day: Cuban blogger Yoani Sanchez

Mark J. Perry | February 21, 2013, 11:45 pm

Cuban blogger Yoani Sanchez writes on her blog about her visit to Brazil: There were flowers, gifts and even a group of people insulting me which, I confess, I really enjoyed, because it allowed me to say that I dream that … read more >

Carpe Diem

US oil output increased last week to the highest level since August 1992, more than 20 years ago

Mark J. Perry | February 21, 2013, 10:44 pm

The Department of Energy reported today that the US produced an average of 7.118 million barrels of oil per day (bpd) during the week ending February 15, which was the highest level of domestic oil output since August 1992, more … read more >

Carpe Diem

Leading economic index points to steady economic growth

Mark J. Perry | February 21, 2013, 5:30 pm

The Conference Board reported today that its Leading Economic Index (LEI), a 10-variable composite index measure that forecasts the future direction of the US economy, increased to 94.1 in January, the highest level for the index since June 2008 (see chart). The 0.2% increase in … read more >

Carpe Diem

Cleveland Federal Reserve Bank’s updated estimate of 10-year expected inflation: only 1.53%

Mark J. Perry | February 21, 2013, 4:36 pm

The Cleveland Federal Reserve Bank reported today its “latest estimate of 10-year expected inflation is 1.53%. In other words, the public currently expects the inflation rate to be less than 2% on average over the next decade (see chart above).” Methodology: “The Cleveland … read more >

Carpe Diem

January home sales were highest for the month in six years; more homes are selling faster at higher prices

Mark J. Perry | February 21, 2013, 3:14 pm

From today’s housing report from the National Association of Realtors: Existing-home sales edged up in January, while a seller’s market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of Realtors. Total … read more >

Economics, Health Care

5 ways to improve Obamacare

Henrik Temp | February 21, 2013, 2:16 pm

The Affordable Care Act (ACA, commonly known as Obamacare) is here to stay, as commentators from the left and right are acknowledging. But just because it can’t be fully repealed doesn’t mean that it can’t be significantly improved. read more >

Pethokoukis

Charles Murray on universal prekindergarten

James Pethokoukis | February 21, 2013, 1:35 pm

Charles Murray on the feasibility and potential benefits of President Obama’s call for universal prekindergarten (via Bloomberg): The take-away from the story of early childhood education is that the very best programs probably do a modest amount of good in … read more >

Image Credit: Susan E Adams (Flickr) (CC BY-SA 2.0)

Economics, Pethokoukis

Should Republicans keep pushing for a 25% top tax rate?

James Pethokoukis | February 21, 2013, 1:05 pm

What would be a sensible top marginal income tax rate? It was 28% (kind of) when Ronald Reagan left the White House. After rising to 40% under George Bush and Bill Clinton, it fell back to 35% under George W. Bush’s … read more >

Carpe Diem

Even the ‘peak-oil cultists’ will find it impossible to ignore the latest global and US oil production numbers

Mark J. Perry | February 21, 2013, 12:24 pm

From Vaclav Smil’s article today at The American, titled “Memories of Peak Oil“: When the final figures for the fourth quarter of 2012 are in, the world will have a new crude oil production record: the total for the first … read more >

Image Credit: Macroeconomic Advisers LLC

Economics, Pethokoukis, U.S. Economy

Will the sequester really knock almost a point from GDP and cost 700,000 jobs?

James Pethokoukis | February 21, 2013, 11:31 am

“The macroeconomic impact of the sequestration is not catastrophic.” That’s the bottom line conclusion of Macroeconomic Advisers, the highly regarded consulting firm. The US economy would grow 2.0% this year instead of 2.6% without the sequester, according to the MA … read more >