News
WSJ | Euro-Zone Growth Slows to 7-Month Low
Growth in the euro zone's private sector eased more than expected to its weakest pace in seven months in May, led by a sharp slowdown in manufacturing, the preliminary results of a survey by financial-information firm Markit showed Monday.
Bloomberg | Crude Oil Drops on Concern Europe Debt Crisis Will Slow Demand
Oil fell in New York amid concern that Europe’s sovereign debt situation may weaken fuel demand while the dollar rose to a nine-week high against the euro.
Market Watch | Consumer spending expected to slow down
Despite persistent unease over their personal finances, consumers remain the backbone of the economy, and data to be released this week will show the state of their spending.
Econ Comments
Washington Post | Stuck in a post-crisis gloom
It may be time to move beyond pessimism. Ever since the financial crisis, Americans have wallowed in fear and anxiety. Understandably. Although a recovery — as defined by academic economists — started about two years ago, it hasn’t felt like one.
Politico | How to fix American transportation
The committee hopes to consolidate more than 100 federal surface transportation programs. Over the past 50 years, dozens of new programs have been created to address the issues beyond the original programmatic goals.
Market Watch | Italy, Spain trigger fresh sovereign-debt fears
Europe’s sovereign-debt crisis reclaimed the spotlight Monday, sending investors around the world in search of safety after voters in Spain provided a thumbs-down on further austerity measures and Standard & Poor’s threatened to cut Italy’s credit rating.
CNN: Money | Why oil prices will spike again soon
How long till the next oil shock?
Blogs
Café Hayek | Beware of Celebrating Decreases in the Current-Account Deficit
Keynesians – or, more generally, economists obsessed with aggregate demand – are fond of exports because foreigners’ expenditures on exports are demand for ‘our’ country’s goods and services.
Calculated Risk | Schedule for Week of May 22nd
The key reports this week will be New Home Sales on Tuesday (more depression for homebuilders), the second estimate for Q1 GDP on Thursday (expect an upward revision), and the Personal Income and Outlays report for April on Friday (an early hint at consumer spending in Q2).
Café Hayek | Another for the ‘I Miss Julian Simon’ File
So in light of this overwhelming evidence that growing population and greater population densities are positively associated with improvements in the human condition, why suppose that growing population nevertheless is a “bomb” destined to explode and hurl us into hell for our sinful refusal to follow the teachings of wild-eyed preachers such as Paul Ehrlich and Lester Brown? Theirs is a fact-immune religious creed that I thoroughly reject.
Calculated Risk | Unofficial Problem Bank list increases to 988 Institutions
Here is the unofficial problem bank list for May 20, 2011.
Reports
RCM: Wells Fargo | Weekly Economic & Financial Commentary
Manufacturing Cools While Housing Remains Frozen.
