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Discretionary Services Spending Has Finally Made It Back To 2007

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from Liberty Street Economics

-- this post authored by Jonathan McCarthy

The current economic expansion is now the third-longest expansion in U.S. history (based on National Bureau of Economic Research [NBER] dating of U.S. business cycles). Even so, average growth in this expansion - a 2.1 percent annual rate - has been extraordinarily weak.

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What We Read Today 15 October 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

U.S. Workers Face Tougher Competition From Abroad

from the St Louis Fed

At the turn of the 20th century, the U.S. became the world's leading economy, a position that it still holds. By 1950, income per capita in the U.S. was more than 4.5 times the world's average income per person.

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Infographic Of The Day: Chart: Are Today's Students Prepared To Make Financial Decisions

Ultra-low interest rates have fueled a boom in debt and asset prices, making everything from houses to stocks very expensive. Meanwhile, students have accumulated $1.45 trillion in student debt, and grads will be squeezed for years attempting to pay it all off.

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Video of the Day:

What's the difference between clicking "Shut Down" and just pulling your computer's power cord out of the wall?


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Current Weather Outlook

Written by

NOAA and JAMSTEC  have substantially similar but not identical ideas on the ENSO forecast which is the key to the Seasonal Outlook. Both see a "cool" Eastern Equatorial Ocean pattern with NOAA being more optimistic than JAMSTEC that it will be a true La Nina. This results in closer agreement than usual for the temperature and precipitation forecasts for at least the first two Seasons. The details on this are discussed in this report.

Seasonal Outlook Update


 more investing, markets, precious metals & forex

The Impact Of Repealing The Clean Power Plan



 more opinion

Why Are Russian Media Outlets Hyping The Mueller Investigation?

from The Conversation

-- this post authored by Cynthia Hooper, College of the Holy Cross

Four major Russia investigations are underway in Washington, along with at least six related federal inquiries.

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 USA economy at a glance (boxed items are updates in last 7 days)

13 October 2017: ECRI's WLI Growth Index Rate Expands Further

ECRI's WLI Growth Index which forecasts economic growth six months forward is remains in expansion. This is compared to RecessionAlerts similar weekly leading index.

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