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	<title>Wall Street Pit &#187; Economy</title>
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		<title>Budget Battles &amp; Reality Checks</title>
		<link>http://wallstreetpit.com/92439-budget-battles-reality-checks</link>
		<comments>http://wallstreetpit.com/92439-budget-battles-reality-checks#comments</comments>
		<pubDate>Fri, 25 May 2012 13:33:19 +0000</pubDate>
		<dc:creator>James Picerno</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[budget]]></category>
		<category><![CDATA[federal budget]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92439</guid>
		<description><![CDATA[Earlier this week, MarketWatch&#8217;s Rex Nutting wrote that the &#8220;Obama spending binge never happened&#8221; and that federal government outlays have recently been rising at the &#8220;slowest pace since 1950s.&#8221; The claim was quickly attacked by some commentators of the Republican persuasion as a left-wing conspiracy. The motivation for trying to discredit the report is understandable, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Governments Don’t Have Brains</title>
		<link>http://wallstreetpit.com/92433-governments-dont-have-brains</link>
		<comments>http://wallstreetpit.com/92433-governments-dont-have-brains#comments</comments>
		<pubDate>Fri, 25 May 2012 12:31:18 +0000</pubDate>
		<dc:creator>Scott Sumner</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[government]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92433</guid>
		<description><![CDATA[Why did the US government develop all sorts of policies, regulations, tax breaks, etc, which tended to subsidize the real estate industry?  Most smart people respond “special interest politics.”  OK, so why does Washington keep pressing China to raise its exchange rate, and why did they press Japan in earlier decades?  After all, even Paul [...]]]></description>
		<wfw:commentRss>http://wallstreetpit.com/92433-governments-dont-have-brains/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The Fed and the Fiscal Cliff</title>
		<link>http://wallstreetpit.com/92415-the-fed-and-the-fiscal-cliff</link>
		<comments>http://wallstreetpit.com/92415-the-fed-and-the-fiscal-cliff#comments</comments>
		<pubDate>Thu, 24 May 2012 15:34:52 +0000</pubDate>
		<dc:creator>Tim Duy</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[federal reserve]]></category>
		<category><![CDATA[fiscal policy]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92415</guid>
		<description><![CDATA[Ryan Avent has an ambitious post, in which he claims the Federal Reserve will resist proclaiming it has the tools to offset the fiscal cliff, should it even occur: The Fed could therefore proclaim to the world that will maintain aggregate demand growth (in the form of, say, nominal income growth) at all costs, and [...]]]></description>
		<wfw:commentRss>http://wallstreetpit.com/92415-the-fed-and-the-fiscal-cliff/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Is The Decline In New Jobless Claims Losing Momentum?</title>
		<link>http://wallstreetpit.com/92412-is-the-decline-in-new-jobless-claims-losing-momentum</link>
		<comments>http://wallstreetpit.com/92412-is-the-decline-in-new-jobless-claims-losing-momentum#comments</comments>
		<pubDate>Thu, 24 May 2012 15:26:13 +0000</pubDate>
		<dc:creator>James Picerno</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[economic data]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[recession]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92412</guid>
		<description><![CDATA[For the fourth time in as many weeks, today’s update on initial jobless claims shows that new unemployment filings are hugging the 370,000 neighborhood on a seasonally adjusted basis. The fact that claims aren’t rising is an encouraging sign, of course. But the resistance at the 370,000 level, if it rolls on, will raise more [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Upward Housing Market Trends Bring Optimism</title>
		<link>http://wallstreetpit.com/92406-upward-housing-market-trends-bring-optimism</link>
		<comments>http://wallstreetpit.com/92406-upward-housing-market-trends-bring-optimism#comments</comments>
		<pubDate>Thu, 24 May 2012 14:21:03 +0000</pubDate>
		<dc:creator>James Picerno</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[real estate]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92406</guid>
		<description><![CDATA[Last December I wondered if the housing market was finally poised for a sustainable recovery after years of retreat. There were signs for thinking optimistically then and the latest numbers continue to suggest that mild growth will roll on. Comparing three key measures of housing activity through April on a year-over-year basis shows that the [...]]]></description>
		<wfw:commentRss>http://wallstreetpit.com/92406-upward-housing-market-trends-bring-optimism/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The Three Faces of Postcrisis Monetary Policy</title>
		<link>http://wallstreetpit.com/92402-the-three-faces-of-postcrisis-monetary-policy</link>
		<comments>http://wallstreetpit.com/92402-the-three-faces-of-postcrisis-monetary-policy#comments</comments>
		<pubDate>Thu, 24 May 2012 13:55:29 +0000</pubDate>
		<dc:creator>David Altig</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[monetary policy]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92402</guid>
		<description><![CDATA[The latest edition of the San Francisco Fed&#8217;s Economic Letter (written by Michael Bauer) has a nice review of the different channels through which the Fed&#8217;s Large Scale Asset Purchase (LSAP) programs—QE, or quantitative easing more popularly—are thought to work: &#8220;Central bank LSAPs potentially may affect interest rates through at least three channels. Notably, all [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Housing Showdown: Bear Shilling vs. Bull Kiesel</title>
		<link>http://wallstreetpit.com/92381-housing-showdown-bear-shilling-vs-bull-kiesel</link>
		<comments>http://wallstreetpit.com/92381-housing-showdown-bear-shilling-vs-bull-kiesel#comments</comments>
		<pubDate>Wed, 23 May 2012 14:19:01 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[Gary Shilling]]></category>
		<category><![CDATA[housing]]></category>
		<category><![CDATA[Mark Kiesel]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92381</guid>
		<description><![CDATA[Housing bear Gary Shilling and housing bull Mark Kiesel of PIMCO debated the state of the U.S. housing market on Bloomberg Television’s “Street Smart” with Trish Regan and Adam Johnson. Shilling said that housing prices will decline 20% this year because “there are 2 million inventories, both visible and shadow inventories, over and above normal [...]]]></description>
		<wfw:commentRss>http://wallstreetpit.com/92381-housing-showdown-bear-shilling-vs-bull-kiesel/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Calm Before the Storm?</title>
		<link>http://wallstreetpit.com/92376-calm-before-the-storm</link>
		<comments>http://wallstreetpit.com/92376-calm-before-the-storm#comments</comments>
		<pubDate>Wed, 23 May 2012 14:13:52 +0000</pubDate>
		<dc:creator>Tim Duy</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[european crisis]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92376</guid>
		<description><![CDATA[A relatively calm start to the week.  Can it last?  Almost certainly not.  It will get worse before it gets better. A few themes popped since last Friday that are worth considering.  First is that some calmer voices have come to the forefront, arguing that a Greek exit is not really all that likely.  See [...]]]></description>
		<wfw:commentRss>http://wallstreetpit.com/92376-calm-before-the-storm/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Ignore Competitiveness?</title>
		<link>http://wallstreetpit.com/92378-ignore-competitiveness</link>
		<comments>http://wallstreetpit.com/92378-ignore-competitiveness#comments</comments>
		<pubDate>Wed, 23 May 2012 13:35:16 +0000</pubDate>
		<dc:creator>Antonio Fatás</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>
		<category><![CDATA[eurozone]]></category>
		<category><![CDATA[labor market]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92378</guid>
		<description><![CDATA[Wolfgang Munchau in the Financial Times argues that competitiveness is not the real problem of Southern Europe and that internal devaluation is not the solution. Paul Krugman disagrees with him and argues that the evidence is clear: Prior to the crisis, inflation was higher in Southern Europe. These countries displayed large current account deficits, a [...]]]></description>
		<wfw:commentRss>http://wallstreetpit.com/92378-ignore-competitiveness/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Staring At The &#8220;Fiscal Cliff&#8221;</title>
		<link>http://wallstreetpit.com/92369-staring-at-the-fiscal-cliff</link>
		<comments>http://wallstreetpit.com/92369-staring-at-the-fiscal-cliff#comments</comments>
		<pubDate>Wed, 23 May 2012 12:52:12 +0000</pubDate>
		<dc:creator>James Picerno</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Latest]]></category>

		<guid isPermaLink="false">http://wallstreetpit.com/?p=92369</guid>
		<description><![CDATA[Does the government that governs least also govern best? The famous quote will be put to the test if Congress and the White house don&#8217;t resolve the &#8220;Taxmageddon&#8221; train wreck coming our way. What&#8217;s at stake? Perhaps economic growth, according to a new report from the Congressional Budget Office: &#8220;Economic Effects of Reducing the Fiscal [...]]]></description>
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