News
Market Watch | Oil futures fall as global demand prospects weaken
Crude-oil futures fell by more than $1 a barrel Tuesday, pressured by a stronger U.S. dollar and weaker global demand prospects after the euro zone’s economy grew at only a modest pace in the second quarter.
Politico | Fitch keeps U.S. triple A debt rating
The ratings agency’s decision to preserve the United States at its top rating level comes after Standard & Poor’s — another of the three major sovereign debt raters — announced less than two weeks ago that it had downgraded U.S. debt to AA+ because of concerns about Washington infighting.
National Journal | The Catch-22 Recovery: We Need To Keep Gas Prices Low
How do we prevent more expensive oil from killing hiring next time around?
Market Watch | Housing starts slip 1.5% in July, U.S. data show
Starts fell to a seasonally adjusted annual rate of 604,000, down from a downwardly revised 613,000 rate in June, the Commerce Department said.
Bloomberg | U.S. Industrial Production Rose 0.9% in July
Manufacturers in the U.S. churned out more cars, computers and furniture in July, easing concern that one of the mainstays of the recovery was giving way.
Econ Comments
WSJ | The Fall of the Midwest Economic Model
In 1970, the future seemed to belong to Michigan's example of big companies and big unions. Not anymore.
Bloomberg | China Slowing ‘Significantly’: Conference Board
China will achieve a “soft landing” even as growth moderates after the government tightened monetary policy, the Conference Board said as its main indicator for the economy rose.
WSJ | Lesson From Europe (Take 2)
No, social democracy doesn't 'work.'
Washington Times | EDITORIAL: Spend more - or we’ll riot
Leftists peddle Big Government as the cure for political instability.
WSJ | Ruby Red Tape
A case study in the costs of regulation, from Opal to Oregon.
Barron's | Prince or Pauper Market
What became of summer doldrums? This season, there are multiple reasons they didn't arrive: the market's wild gyrations, the S&P downgrade of U.S. debt, worries about Europe and, of course, the outlook for our economy and growth.
RCM | To Manufacture a Crisis, Ban the Shorts
Last Thursday night the European Securities and Markets Authority placed a ban on the short selling of shares in France, Belgium, Italy and Spain. Though this would constitute a major mistake in any market, given today's market uncertainty, a ban on essential market sleuths is the potential path to a market crisis.
Washington Times | WOLF: Upgrading America
Are we still the rugged Americans who once conquered a continent?
Blogs
WSJ: Real Time Economics | Student Loan Debt Climbs
Americans have cut back on credit of all kinds, with one notable exception.
Minyanville | Five Things You Need to Know: Asymmetric Economy Increasingly Untenable and Unstable
This situation cannot continue without adjustment.
Heritage Foundatin | Wow! The Economy Seems Great! (But Only if You Live in D.C.)
According to a new Gallup poll, the District of Columbia is the only place in the country where a majority of people think the economy is improving (60 percent, in fact). In every state in the union, most people say the economy is getting worse.
WSJ: Real Time Economics | Stalwart Canadian Economy at Risk of Contraction
The Canadian economy, a stalwart of growth among the Group of Seven in the post-recession recovery, is at risk of shrinking in the second quarter, data released Tuesday indicated.
Reports
RCM: Wells Fargo | June TIC Flows Negative on Weak Treasury Demand
Net TIC flows were negative for the second consecutive month in June as foreigners were net sellers of Treasury bonds and notes. Meanwhile, U.S. residents were sellers of foreign securities.
