News
CNN: Money | Recession risk: Small, but growing
And the trend of a weakening economy is clear: most of the economists surveyed, even those who are not worried about a recession, have cut their forecasts for growth in the second quarter sometime during the last month. Many are trimming estimates for the full year as well.
Econ Comments
WSJ | America Needs the Shale Revolution
The drilling boom is the best U.S. energy news in generations and is crucial for reviving domestic manufacturing.
Financial Times | How to avoid our own lost decade
Even with the 2008-2009 policy effort that successfully prevented financial eollapse, the US is now halfway to a lost economic decade. In the past five years our eoconomy's growth rate averaged less than one per cent a year, similar to Japan when its bubble burst.
Washington Times | OWENS: Greenbacks for ‘green’ energy
Lucrative subsidies for renewables amount to crony capitalism.
WSJ | What It Would Take to Do a Double Dip
For those fretting that a string of disappointing U.S. economic data presage a double dip in the recession, there is good news and bad news.
Daily Caller | Private Sector must lead recovery, and government must get out of the way
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A senior Obama administration official said recently that the private sector will have to lead this economic recovery. He's right! But the private sector cannot do it unless government gets out of the way.
MSN | Economy stuck in waiting room
Talk of a recovery seems premature, as job, real-estate and budget woes contine to weigh on the economy. The path to a real recovery will be painful.
Washington Post | How to avoid a lost decade
Beyond the lack of jobs and incomes, an economy producing below its potential for a prolonged interval sacrifices its future. Huge numbers of new college graduates are moving back in with their parents this month because they have no job or means of support.
Financial Times | America prefers fiscal idiocy to intelligent choices
One way or another, the US is finally going to collide with fiscal reality. There need not be a crisis: delas might yet be cut to make this collision less violent. What seems ever less likely, though, is that the country's politicians will frame intelligent choices to put before voters, or that voeters will insist that they do.
Blogs
Heritage Foundation | Economic Freedom: Key to the 50 States’ Economic Recovery
Economic freedom, enhanced by limited government, is critical to economic dynamism and job creation, as documented in the Index of Economic Freedom, an annual cross-country policy analysis by The Heritage Foundation.
Calculated Risk | Schedule for Week of June 12th
Several "B-List" reports will be released this week: Retail Sales, Industrial Production, Housing Starts and the Consumer Price Index (CPI). Some reports will clearly be impacted by the disaster in Japan - like May retail sales and Industrial Production - other reports might show some stabilization - like the June Empire State (NY Fed) and Philly Fed manufacturing surveys.
Carpe Diem | The Latest Government Solution to a Non-Problem
Megabus already provides low-cost, high-speed service between Iowa City and Chicago, so why spend hundreds of millions of taxpayer dollars for "high speed" rail?
Forbes | How The Demand-Siders Ruined The U.S. Economy
The latest, grim data confirm that the post-recession U.S. economic recovery of 2009-2011 has been one of the weakest on record. Real GDP growth since the recession that ended in mid-2009 has been a meager 5%, compared to average growth of 9% at this same point following nine previous recessions since WWII.
Calculated Risk | Unofficial Problem Bank list over 1,000 Institutions
This is an unofficial list of Problem Banks compiled only from public sources.
Financial Times: A-List | The eurozone heads for break up
The Economic and Monetary Union never fully satisfied the conitions for an optimal currency area. Instead its leaders hoped that their lakc of monetary, fiscal and exchange rate policies would in turn see an acceleration of structural reforms. These, it was hoped, would see productivity and growth rates converge.
Econlog | Larry Summers vs. PSST
In the AS-AD framework, the solution is simple. Raise aggregate demand. In the PSST framework, it is not so simple. The challenge is for entrepreneurs to discover new industries, and for workers to adapt.
Calculated Risk | Ranking Economic Data
I'm frequently asked for sources of data, so here is an update to the list ranking economic data. For each indicator I've included a link to the source, and a link to the current graph gallery.
Reports
RCM: Wells Fargo | RCM: Wells Fargo Type the Title You Want People to See
Now that the era of stimulus is coming to an end, decision makers must come to grips with the economy that we have—not the one some commentators dream up.
