The Week in Review from Valeo Financial Advisors (November 8, 2013)
US Economy
- GDP growth was stronger than expected, as the economy grew by 2.8%. This was the highest rate of growth in a year. Valeo Financial Advisors
- Jobless claims decreased to 336,000 claims against 345,000 from the prior period Bloomberg
- U.S. consumer credit increased by $13.74 billion last month, but credit card usage fell for fourth straight month as consumer spending might be slowing down Reuters
- Personal income rose 0.5% in September, beating forecasts. September was the third consecutive month that income gains outpaced spending The Wall Street Journal
World Economy
- The European Central Bank decreased interest rates to a record low this week. This decision came as a surprise to politicians and investors worldwide The Economist
History
- What lessons have been learned from the Great Depression and Great Recession? The Economist
- Bernanke: Why the 2008 crisis was a lot like the Panic of 1907 The Washington Post
- A reality check Morningstar News
- “We should think about IPOs like draft picks in sports.” The Daily Beast