Republicans may be the party of free markets and “drill, baby, drill,” but the party’s presidential hopefuls and congressional leaders are seriously divided on whether the U.S. should start exporting its gusher of domestic oil.
Bloomberg | Pending Sales of U.S. Existing Homes Fell 1% in August
Contracts to purchase previously owned homes declined in August as tighter credit and limited wage growth weigh on potential buyers. The pending home sales index dropped 1 percent after a 3.2 percent increase in July, the National Association of Realtors said today in Washington.
Bloomberg | Euro-Area Economic Confidence Falls in Sign ECB Plan Takes Time
An index of executive and consumer sentiment slipped to 99.9 in September from 100.6 a month earlier, the European Commission in Brussels said today. That’s the lowest since November and in line with the median of 25 forecasts in a Bloomberg News survey.
Econ Comments & Analysis
WSJ | Capital Markets Ride to the Third World Rescue
From capital markets comes commerce, and from commerce the ability to trump conflict and drive macroeconomic viability for the long term.
Washington Times | An opportunity to rein in the EPA
In the absence of action by Congress, the Environmental Protection Agency (EPA) has taken dramatic and unprecedented steps to craft energy policy in this country by issuing new regulations regarding carbon-dioxide emissions.
Real Clear Markets | Inequality Worriers Aren't Entitled To Their Own Facts
Inequality is a problem that can be solved in two ways: punishing the successful or aiding the unfortunate. Liberals need to realize that the first is at best a temporary measure and one that makes us worse off as a nation. Let's be smarter about this and find policies that help all Americans to thrive and move forward together.
Bloomberg | U.S. Still the Dog Wagging Tail of World Economy as China Slows
As U.S. growth accelerated in the second quarter to the fastest rate since 2011, China’s economy waned, with manufacturing and lending data pointing to a weakening in activity. A resurgent U.S. and retreating China is the reversal of a trend that dominated in the wake of the financial crisis.
The Daily Signal | The Real Story About What Ended the Great Depression
The cruel irony of the New Deal is that the liberals’ honorable intentions to help the poor and the unemployed caused more human suffering than any other set of ideas in the past century.