News
Bloomberg | Retail Sales Stagnate on Unemployment
The 0.1 percent increase reported by the Commerce Department in Washington today compared with the median forecast of a 0.1 percent drop in the Bloomberg News survey of 80 economists. Excluding auto sales, purchases were little changed, the weakest performance since July 2010.
Market Watch | Foreclosures jump 4% in June: RealtyTrac
Foreclosure activity was down 29% in June compared with a year ago — the ninth month in a row that activity was down compared with data from a year before, RealtyTrac reported Thursday.
Bloomberg | Wholesale Prices in U.S. Fell 0.4% in June
U.S. wholesale costs dropped more than forecast in June, restrained by the biggest decrease in energy prices in two years.
WSJ | Gold Soars to Fresh Record
Economic and political tensions on both sides of the Atlantic have burnished gold's allure as a "safe-haven" investment, one that's likely to retain value while other asset classes have fluctuated wildly. Of particular concern for conservative investors are the actions of central banks as they try to balance the pursuit of economic growth against inflation fears.
NYT | China’s Economy Slowed a Bit in the 2nd Quarter
The Chinese economy expanded at an unexpectedly robust pace during the second quarter of this year, data released Wednesday showed, but a slowdown from the sizzling pace of previous quarters also underlined the challenges that now face policy makers in Beijing.
Econ Comments
WSJ | The Disappearing Recovery
Barack Obama, John Boehner and Mitch McConnell have been performing an intricate scorpion dance over spending, taxes and the debt ceiling, premised on the belief that this is the deal that would ignite the recovery.
CNN: Money | Economy shows a pulse
The economy certainly isn't rolling, but it also isn't rolling over just yet.
AEI | A US Oil Boom--Unless Greens Abort It
Just a year after the BP oil spill, America is on the verge of a new golden era of oil exploration and production -- unless President Obama and his environmentalist friends get their way.
AEI | Should the Retirement Age be Raised?
Social Security’s retirement age should not be increased for anyone on the verge of retirement, but there’s a good case for doing so over coming decades, as the Baby Boomers retire and the population ages.
WSJ | The World Says China Will Overtake America
In the past decade, anti-Americanism grew around the world. This was in response to concerns about the unchecked global power of the U.S., when it invaded Iraq in the face of very wide international opposition. In sharp contrast, today America is seen as on its way to losing its status as the dominant global superpower.
WSJ | Blocking Freer Trade
Congress can advance trade agreements that will help businesses sell more American-made goods and services to Asia and South America, supporting thousands of jobs here at home. That could be done right now.
Blogs
The Economist | Is this the soft landing?
There has been a fair amount of anxiety over the state of the Chinese economy of late. News of unexpectedly large debt burdens among Chinese local governments generated a wave of concern that recent Chinese growth has been entirely unsustainable.
Reports
RCM: Wells Fargo | Import Prices Fall in June
Largely on the back of receding oil prices, total import prices fell 0.5 percent in June—the first monthly decline in a year. Export prices increased again, but monthly gains have moderated over the past few months.
