National Enquirer Vindicated - Pulitzer Prize Next?
Washington Post -- John Edwards's paternity admission vindicates National Enquirer
Does the National Enquirer Deserve a Pulitzer for Breaking the John Edwards Scandal?
Professor Mark J. Perry's Blog for Economics and Finance
From Superfreakonomics via Freakonomics blog:
DQNews -- "An estimated 41,837 new and resale houses and condos were sold statewide last month. That was up 16.7% from 35,860 in November, and up 10.6% from 37,836 for December 2008 (see chart above). An increase in sales from November to December is normal for the season.
"Every few weeks, it seems, fresh news arrives telling of impressive discoveries of oil and gas in the Gulf of Mexico, an area that, until recently, was viewed as well worked over and unlikely to yield any new bonanzas. Last September brought word of a giant Gulf oil field reeled in by British Petroleum. And the latest Gulf headline-maker is a potentially major gas play offshore Louisiana that appears likely to add new trillions of cubic feet of gas to growing domestic reserves of the cleanest-burning carbon fuel. So much for worked over. The new take on the Gulf is decidedly more optimistic.
"The tiger, which is at the top of the food chain in its ecosystem, would be at the top of the economic ladder because of its market value. Among the results we can expect from breeding tigers to reduce poaching in the wild:
LONDON (Reuters) - "International hotel chain Holiday Inn is offering a trial human bed-warming service at three hotels in Britain this month. If requested, a willing staff-member at two of the chain's London hotels and one in the northern English city of Manchester will dress in an all-in-one fleece sleeper suit before slipping between the sheets.
WASHINGTON, Jan 21 (Reuters) - "A gauge of the U.S. economy's prospects rose for the ninth straight month to a record high in December, a private research group said on Thursday, indicating a recovery was set to pick up. The Conference Board said its index of leading economic indicators rose 1.1 percent to an all-time high of 106.4 last month.
WSJ -- "The number of U.S. workers filing new claims for jobless benefits unexpectedly rose last week -- an increase a U.S. Labor Department economist said is partly due to an administrative backlog in processing claims. Total claims lasting more than one week, meanwhile, declined.
Days since U.S.-Colombia Free Trade Agreement (FTA) signed (the FTA awaits Congressional approval): 1,156
"Politically, ObamaCare has backfired. Much of the goodwill with which the president entered the White House has been squandered, and any effort to try to force a health bill through Congress now will drive what’s left of that goodwill over a cliff.
"Since 1933, Republicans had a more positive record on civil rights in Congress than the Democrats. In the twenty-six major civil rights votes since 1933, a majority of Democrats opposed civil rights legislation in over 80 percent of the votes. By contrast, the Republican majority favored civil rights in over 96 percent of the votes."
The chart above shows real GDP per capita from 1969 to 2009 for the EU-15 and the USA, using data from the USDA. The chart below displays the difference in real GDP per capita between the USA and the EU-15 over the same period, and shows that the USA-EU difference has more than doubled, from $4,000 as recently as 1982 to more than $8,000 by 1999, and has been as high as $8,794 in 2005. For 2009, the difference in per capita real GDP was $8,236 (US $41,646 - EU $33,410).
The value of world stock markets increased by $1.07 trillion in December (data here) to $46.5 trillion, the highest level for total world stock market capitalization since August 2008 (see chart above). The world's stock markets have increased in value nine out of the last ten months, and world markets have gained $14 trillion in market capitalization since the $28.7 trillion value in December 2009, representing almost a 43% increase this year.
DETROIT FREE PRESS -- After a long spell of cutting production and closing plants, North American automakers are preparing to build substantially more cars as evidence mounts that the economic recovery is gathering momentum.
According to data from Ward's Automotive, the Big Three's (GM + Ford + Chrysler) market share for the U.S. went from above 90% in 1965 to below 45% in 2009. Also from Ward's, below are the top 10 best selling cars in the U.S. for 2009 (trucks not included), and then the top 20 cars and trucks for 2009.
According to bellwether polling conducted Saturday, Jan. 16, and Sunday, Jan. 17 by Suffolk University:
Excerpts from the New Yorker interview with Eugene Fama:
According to a report released Friday by the Federal Reserve Bank of Cleveland, the median Consumer Price Index was virtually unchanged at 0.0% (0.6% annualized rate) in December. The "median CPI" is a measure of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics' (BLS) monthly CPI report.