News
Bloomberg | Consumer Spending Rises in July, Beats Forecast
Consumer spending climbed more than forecast in July as Americans dipped into savings to buy cars and cool their homes, showing the biggest part of the economy is holding up.
WSJ | Mousetraps, Maybe, but Can You Build a Better Paper Clip?
U.S. Manufacturers Churn Out Billions Each Year; Hoping a New Model Clicks.
Bloomberg | Treasuries Decline as Personal Spending Rises in July More Than Forecast
Treasuries fell as stocks advanced after Federal Reserve Chairman Ben S. Bernanke said last week that the U.S. economy isn’t weak enough to warrant immediate additional stimulus, sapping demand for a refuge.
WSJ | Labor Economist to Fill Key Post
If confirmed by the Senate, Mr. Krueger, a labor economist, is likely to provide a voice inside the administration for more-aggressive government action to bring down unemployment and, particularly, to address long-term joblessness.
Market Watch | Republican on need for government role in housing
To maintain the 30-year fixed rate mortgage and to allow the housing finance system, and economy, to recover, the government needs to provide a guarantee for mortgages, according to Republican Representative John Campbell.
National Journal | Can Dow Chemical’s CEO Sell Obama-esque Manufacturing Vision?
Last January, Andrew Liveris, the CEO of Dow Chemical, published a book called Make it in America that laid out a path for the United States to reclaim its onetime manufacturing dominance. The book details an ambitious agenda to set U.S. manufacturing back on a course for success, arguing that if the country cedes production of all the high-tech gadgets it produces.
Roll Call | RSC Looks to Advance ‘Growth’ Agenda, Mend Fences
Republican insiders say they expect the effort to include a mash-up of tax and regulatory moves that could include an attempt to restrict the federal government’s ability to regulate oil and gas drilling and a long-term repatriation tax holiday, among other elements.
Econ Comments
WSJ | An Entrepreneurial Fix for the U.S. Economy
Several reforms can make it faster and easier for new business startups.
NYT | Does America Need Manufacturing?
For decades, the federal government has generally resisted throwing its weight —and its money — behind particular industries. If the market was killing manufacturing jobs, it was pointless to fight it. The government wasn’t in the business of picking winners.
WSJ | An EPA Moratorium
Obama has the power to delay new rules that will shut down 8% of all U.S. power generation.
Washington Times | DREVNA: Cutting rules would spark economic growth
Obama should block EPA from restraining creation of energy jobs.
Bloomberg | Failing at Innovation? Bank on It
There's less entrepreneurship today than 20 years ago. Chris Farrell blames the rush for a fast buck.
Washington Times | GHEI: A Capitol crash course
Congress needs remedial instruction in basic economic principles.
Blogs
Political Calculations | The Changing Distribution of Adjusted Gross Income for U.S. Households
If you had to guess, what adjusted gross income range would you say had the biggest gains in the number of households included within that range during the years from 1996 through 2009? Here are the choices:
Cato @ Liberty | Hurricane Irene as Economic Stimulus
No matter how many times economists debunk the broken window fallacy, not a natural disaster goes by that journalists don’t try to cheer us up by saying “at least it will stimulate economic growth.”
Heritage Foundation | Want Stimulus? Reduce Regulation
If President Obama needs to find 20 regulations to kill that would spur economic growth, then one need to look further than the Diane Katz report that identifies the biggest job destroying culprits: Dodd-Frank, ObamaCare and the global warming crusade of the EPA.
Minyanville | Key Indicators Suggest Fall Rally Is Coming
When the Pressure Factor indicator is deeply oversold -- as it is now -- the odds of a sharp rebound dramatically increase.
Reports
RCM: Wells Fargo | Weekly Economic & Financial Commentary
The Economy Continues to Grow at a Snail’s Pace.
AEI | What Drives Gas Prices: Cartels, Speculators, or Supply and Demand?
The public is unhappy with these high gas prices, and politicians are scrambling to find ways to reduce the pain--or, failing that, to publicly shoot the messenger by investigating, penalizing, or punitively taxing oil companies. This Outlook explores the true causes of oil price fluctuation and explains how policymakers can help lower gasoline prices.
