News
WSJ | Profits Thrive in Weak Recovery
While the U.S. economy staggers through one of its slowest recoveries since the Great Depression, American companies are poised to report strong earnings for the second quarter—exposing a dichotomy between corporate performance and the overall health of the economy.
USA Today | U.S. to fall behind India in world trade, report says
In less than 40 years India will overtake the U.S. as the world's second-largest trading nation, pushing today's superpower into third place and Europe in to the little leagues, according to a report by Citi.
Fox News | The economic recovery turns 2: Feel better yet?
Two years after economists say the Great Recession ended, the recovery has been the weakest and most lopsided of any since the 1930s.
Bloomberg | Advanced Energy Cuts Revenue Forecast as Solar Panel Prices Drop
Advanced Energy Industries Inc. (AEIS) cut its revenue forecast for the second quarter, saying price declines for solar panels are causing some customers to delay orders.
CNN: Money | The scariest risks to the economy
U.S. policymakers are racing to reach an agreement before the debt ceiling is breached. But the biggest risks to the U.S. economy are mostly out of their hands.
Econ Comments
WSJ | The Future Still Belongs to America
This century will throw challenges at everyone. The U.S. is better positioned to adapt than China, Europe or the Arab world.
Washington Times | GHEI: The IMF’s moral hazard
It’s time to jettison this obsolete and dangerous international organization.
WSJ | The Rise and Needless Decline of the Golden State
John Steele Gordon writes in The Wall Street Journal that more Americans left California than arrived in the last decade. What caused this great migration? Politics.
Bloomberg | Recession Trade Sends Cyclicals to Two-Year Low
The biggest rally in a year for companies most tied to economic growth is generating gains for BlackRock Inc. and Federated Investors Inc., and the advance may continue after valuations slipped to a two-year low.
Washington Times | RAHN: Regulators causing bank failures
Beware Greeks bearing debt - or any other country that has too much of it. Despite ever-increasing government regulation of banks, which often are required to hold government debt as reserves, the systemic risk of a failure in the global financial system is growing rather than diminishing.
WSJ | America's Troubling Investment Gap
For the first time in decades, America is on net losing, not attracting, growth capital.
Washington Times | EDITORIAL: Wasteful energy
Leftists shun Earth-friendly renewable power source that turns a profit.
Minyanville | How Dumping Strategic Petroleum Reserves Can Lead to a Rally in Oil
The market is expecting another shoe to drop in the oil market.
Blogs
Calculated Risk | Unofficial Problem Bank list at 1,003 Institutions and State Stress Level
Here is the unofficial problem bank list for July 1, 2011.
Econlog | The Right Amount of Manufacturing
In my latest Freeman column, I take on Huffington Post author Ian Fletcher on his claim that the United States doesn't have enough manufacturing. Some excerpts from my article:
Calculated Risk | Schedule for Week of July 3rd
Reis is expected to release their Q2 Office, Mall and Apartment vacancy rate reports this week. Last quarter Reis reported falling vacancy rates for apartments, rising vacancy rates for regional malls, and the first decline (small) in the office vacancy rate since 2007.
Daily Capitalist | Manufacturing: Following The Dollar
The ISM Manufacturing Index showed a modest gain in June, most likely reflecting some post-Tsunami inventory restocking. Exports were the main driver of the report, a result of a weak dollar for the past year. This is the 23rd month of growth in manufacturing .
WSJ | World-Wide Factory Activity, by Country
Global manufacturing slowed across the globe in June, with a global index produced by J.P. Morgan and Markit falling to a 23-month low, though it still remained in expansionary territory. The U.S. managed to buck the trend, notching a strong expansion.
Reports
NBER | Financial Literacy and Retirement Planning in the United States
We examine financial literacy in the United States using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated.
RCM: Wells Fargo | RCM: Wells Fargo Weekly Economic & Financial Commentary
Weaker-than-expected consumer spending and income growth for May are causing many economists to further scale back their consumer spending and GDP growth forecasts for the second quarter.
