US 2012Q4 GDP

It is worth noting that the 2012Q4 data is only an advance estimate (we still need to wait for preliminary revision and then final revisions to obtain a clear perspective on the extent of the growth slowdown).

BEA Release
http://www.bea.gov/newsreleases/national/gdp/2013/pdf/gdp4q12_adv.pdf

Bloomberg Report

US Defense Spending Volatility and the 2012Q4 GDP Figure

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/30/why-defense-spending-dropped-22-last-quarter-and-shrunk-gdp/

Interesting Items - Jan 27

US Policy Dysfunction:

 http://www.bloomberg.com/news/2013-01-23/united-states-of-crisis-seen-costing-jobs-wasting-money.html

Robert Shiller on the Housing Recovery

http://www.nytimes.com/2013/01/27/business/housing-markets-future-still-has-many-clouds.html

McKinnon on the Dollar Standard

http://www.project-syndicate.org/print/the-dollar-standard-and-us-trade-deficits-by-ronald-mckinnon

Monetary and Fiscal Policy in Japan

http://www.economist.com/news/finance-and-economics/21570710-bank-japan-tests-limits-shinzo-abes-economic-power-win-some-lose

Robert Shiller's Take on Asset Market Conditions

Related:

Bankers consider asset re-pricing and credit bubble risks

http://www.businessweek.com/news/2013-01-24/credit-bubble-seen-in-davos-as-cohn-warns-of-repricing

Currency wars will likely impact foreign asset returns

http://www.businessweek.com/articles/2013-01-24/the-surprising-upside-to-japans-currency-war

“Emerging market economies are especially agitated by Japan’s moves. With interest rates near zero in the U.S., investors have piled into Turkey, Thailand, South Korea, and the Philippines in search of better bond returns. That’s driving their currencies up, and a weaker yen amplifies that trend. Thai Finance Minister Kittiratt Na-Ranong says the baht’s exchange rate is “not at a good level.” South Korean Vice Finance Minister Shin Je Yoon says Korea wants the G-20 talks in Moscow this February to focus on the effects of monetary easing in the U.S., Europe, and Japan.” - Businessweek

Interesting Items - Jan 22

Payscale Data on Average Salaries by College Majors

http://www.payscale.com/college-salary-report-2013/majors-that-pay-you-back

El-Erian on Currency Wars

http://www.project-syndicate.org/commentary/the-logic-of-today-s-brewing-currency-wars-by-mohamed-a--el-erian

Pesek on Currency Wars

http://www.bloomberg.com/news/2013-01-21/-strong-dollar-is-lie-told-in-new-currency-war.html

Is Canada Afflicted with the Dutch Disease?

http://blogs.wsj.com/canadarealtime/2013/01/22/in-canadas-dutch-disease-debate-what-is-it-exactly/

FT on US Debt Dilemma

http://www.ft.com/cms/s/0/8c7758c8-63bb-11e2-af8c-00144feab49a.html

Macroeconomics – Evolving?

http://www.economist.com/news/finance-and-economics/21569752-efforts-are-under-way-improve-macroeconomic-models-new-model-army

Badge Madness

China's Economic Evolution

China Faces Competition As a Low Cost Manufacturer

http://online.wsj.com/article/SB10001424127887323783704578245241751969774.html

In Related News,

China’s Long-Term Strategy to Move Up the Value Ladder Involves Massive Investment in Human Capital

http://www.nytimes.com/2013/01/17/business/chinas-ambitious-goal-for-boom-in-college-graduates.html

Technology, Innovation and Job Creation

Update:

Nobel laureate Mike Spence’s views on the topic:

http://www.project-syndicate.org/print/global-supply-chains-on-the-move-by-michael-spence

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A great cover story from the Economist

http://www.economist.com/news/briefing/21569381-idea-innovation-and-new-technology-have-stopped-driving-growth-getting-increasing

Noah Smith on the rise of robots
http://www.theatlantic.com/business/archive/2013/01/the-end-of-labor-how-to-protect-workers-from-the-rise-of-robots/267135/

CBS 60 Minutes Report on Robots and Jobs