News
Market Watch | Raises aren’t keeping up with inflation
On average, employees will get a raise of about 2.8% in 2012. That’s slightly more than the 2.6% employers said they’d give workers this year, Andrea Coombes reports today. Unfortunately, that size raise isn’t keeping up with inflation: The consumer price index for all urban consumers rose 3.6% in the 12 months ending July 2011.
WSJ | Factories Retrench Amid Downturn Worries
ional surveys of manufacturers are pointing to a downshift in activity, as a key driver of the recovery retreats amid worries about an economic downturn. Separately, sales of new homes dropped to their lowest level since February, with the housing sector beset by too much supply and too little demand.
Washington Times | Businesses cool as administration moves to ease regs
The White House said Tuesday it’s going to tweak some 500 regulations it says have unnecessarily tied companies’ hands, but the announcement drew little enthusiasm from a business community that doubts the action will do much to overcome a slew of new health care and financial regulations.
Market Watch | Durable-goods orders climb 4.0% in July
Orders for U.S. durable goods jumped 4.0% in July, mainly because of higher demand for autos and commercial aircraft, the government reported Wednesday.
CNN: Money | Is yield curve signaling a recession?
Amid the growing number of signs that the United States may tip back into a recession, the bond market is sounding its own siren.
Econ Comments
Washington Times | MATTHEWS: It’s time to ‘lure’ the left back to basic economic principles
All states could have job growth if they’d follow Texas’ example.
WSJ | Keynesian Economics vs. Regular Economics
Food stamps and other transfers aren't necessarily bad ideas, but there's no evidence they spur growth.
Washington Times | WOLF: Energy Obamanomics: No green jobs and plenty of red ink
It’s time to end all forms of corporate welfare.
Politico | Don't overstate reg re-examination
But despite the White House’s claims, this initiative is not “unprecedented.” Nor is it likely to have a significant effect on the current economic malaise.
AEI | Is the US Economy Freefalling?
With multiple European governments on the brink of default and Washington divided squarely along partisan lines, successful fiscal policy will be hard to implement. The Fed should declare that it will keep policy accommodative as long as its forecast falls short of its objectives, thereby encouraging risk taking by investors.
Cato Institute | Free Trade 101 for Members of Congress
Free trade promotes liberty, prosperity, and peace. That's a good deal for America.
Blogs
Atlantic | Did Welfare Reform Work?
If welfare reform was meant to cut the rolls, then it definitely worked. And if it was meant to give states the flexibility to cut their spending on the program, it definitely worked. . . If you think the point of the program is to help the poor, then no, welfare reform is not working.
AEI: American | Not Free to Choose: The Reality behind Clean Energy Standards
The new stealth approach to energy policy being pushed under the guise of a Clean Energy Standard is frankly dishonest.
Reports
RCM: Wells Fargo | Philadelphia Fed Index: Can It Predict a Recession?
Last week, the plunge in business activity in the Philadelphia Fed manufacturing survey roiled financial markets. While one month does not make a trend, the drop signals downside risks to real GDP growth.
