The Debates Continue ...

Did the US Administration Miss an Opportunity to Deal with Long Term Challenges?
Short Term vs. Long-Term Policy Choices
http://www.bloomberg.com/news/2012-09-17/obama-s-short-run-fixes-neglect-long-term-reform.html

Which Segment of the Population Should the Government Focus on To Reinvigorate the Economy?
An Unorthodox Take on Multipliers and Spending

http://online.wsj.com/article/SB10000872396390444100404577641280041366306.html

Where is the Stock Market Headed?

The Stock Market and the Demographic Shift

http://www.businessweek.com/articles/2012-09-17/are-stocks-doomed-by-demographics

FT on QE3

Monday Sept 17 Highlights

A Few Prominent Economists (including Meltzer and Taylor) Warn of the Long-Term Risks from Recent Fed Actions:

http://online.wsj.com/article/SB10001424052702303561504577497442109193610.html

Robert Samuelson at Washington Post Notes the Declining Effectiveness of Stimulus Measures:

http://www.washingtonpost.com/opinions/robert-j-samuelson-bernanke-on-the-brink/2012/09/16/9c94a66c-fe93-11e1-8adc-499661afe377_story.html

Marc Faber is Clearly Unhappy with Monetary Stimulus (He Sounds Like a Crank but is Worth Listening to for Investment Recommendations)

Euro – Looking Better?

http://www.bloomberg.com/news/2012-09-17/draghi-euro-humbles-thought-leaders-seeing-end-of-union-1-.html

The Decline of Investment Banking

http://www.economist.com/node/21562925

US Corporate Rate Profits Likely to Ease

http://www.nytimes.com/2012/09/17/business/earnings-outlook-in-us-dims-as-global-economy-slows.html

The Long-Run Growth Controversy

Northwestern economist, Robert Gordon, appears to have set off a fresh round of debate on the potential sustainability of growth in the US over the long run. In his NBER paper (Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds), he argues that US productivity growth rate has returned to a low growth trend (following a brief spike between 1996 and 2004) and that the economy faces major headwinds that are likely to reduce future growth prospects.

China's Economy in Transition

Hayek vs. Keynes – The China Investment Debate

http://www.economist.com/node/21562903

Sino Spending

http://www.imf.org/external/pubs/ft/fandd/2012/09/pdf/barnett.pdf

Excellent IMF Video on China’s Economy

Has the Fed Implicitly Adopted NGDP Targeting?

The Fed statement appears to indicate indirect NGDP (nominal GDP) targeting. By giving an open-ended commitment to undertake monthly asset purchases until the labor market improves, the Fed is essentially aiming for a higher level of output and is not too worried about medium-term inflation risk.
Here is a nice intro to NGDP targeting for novices -
http://www.economist.com/node/21526886

Sept 13 FOMC Meeting

Fed Statement: http://www.federalreserve.gov/newsevents/press/monetary/20120913a.htm

Bloomberg Report

http://www.bloomberg.com/news/2012-09-13/fed-plans-to-buy-40-billion-in-mortgage-securities-each-month.html

US Monetary Easing

Costs of Monetary Stimulus

Phil Gramm and John Taylor on “The Hidden Cost of Monetary Easing”

http://online.wsj.com/article/SB10000872396390443686004577639590237612020.html

Effects of Low Interest Rates on Savers

http://www.nytimes.com/2012/09/11/business/as-low-rates-depress-savers-governments-reap-the-benefits.html

Stimulus Expectations

http://www.bloomberg.com/news/2012-09-12/fed-seen-starting-qe3-while-extending-rate-pledge-to-2015.html

Related:

Monetary Stimulus in Election Years

http://www.nytimes.com/2012/09/12/business/economy/history-repeats-as-fed-is-expected-to-announce-economic-stimulus.html