News
Bloomberg | European Economic Confidence Falls Most Since December 2008
European confidence in the economic outlook in August plunged the most since December 2008 as a persistent debt crisis roiled markets and clouded growth prospects across the 17-nation euro region.
CNN Money | Wind power makes greenhouses greener
From the outside, it looks like a crash-landed blimp. On the inside, it feels like a wind tunnel. For inventor David Chelf, this strange structure -- a high-tech greenhouse with no skeleton, whose lightweight skin is held aloft on breezes from giant fans -- looks like the future of agriculture.
National Journal | Ron Johnson Slams Obama, Puts Forward Own Economic Plan
Johnson blamed economic stimulus, health care reform, the Dodd-Frank bill, and an “explosion” of regulations for unsettling markets, businesses, and consumers. He accused the president of being “blinded by ideology” and noted that few in the administration have private-sector experience.
Fox News | Lean' Manufacturing Takes Root in U.S.
A century after Henry Ford developed the assembly line production method for the manufacture of Model-T Fords, a Japanese automaker has pioneered the next evolution on the concept – and begun a revolution that is quietly spreading beyond the business world.
National Journal | House Republican Fall Agenda Takes Aim at Regulations, Taxes
While the spotlight will be on the workings of the new deficit-reduction “super committee” after Congress returns next week, House Republican leaders said on Monday they also have set a legislative agenda for fall and winter that concentrates heavily on regulatory and tax relief.
Econ Comments
Washington Times | BLANKLEY: Obama’s economic-policy last chance
Only a dramatic switch to free-market principles can save his presidency.
NYT | Manufacturing a Recovery
Rebuilding our manufacturing capacity requires the demolition of the idea that the United States can thrive on its service sector alone. We need to create at least 20 million jobs in the next decade to offset the effects of the recession and to address our $500 billion trade deficit in manufactured goods.
WSJ | Mr. Sunstein Can't Be Serious About Cutting Red Tape
Regarding regulatory czar Cass Sunstein's Aug. 23 op-ed, "Washington Is Eliminating Red Tape": The savings outlined by Mr. Sunstein don't even represent one-quarter of 1% of total private-sector compliance costs—and that assumes that the savings are realized and not just bureaucratic finagling for political purposes.
Blogs
Cato @ Liberty | Disaster Relief Is Not Free
Disaster relief is a form of welfare — transferring assets from some to others. We can do that voluntarily, or through government.
Heritage Foundation | White House’s New Top Economist: Unemployment Benefits Are Not Stimulus
President Obama’s pick as chairman of the White House Council on Economic Advisors co-authored a paper that showed that extending unemployment benefits will likely exacerbate joblessness.
Minyanville | Why There's No Reason to Fear a Double-Dip Recession
While the world wrings its collective hands about a second recession clouding the US economic recovery, don't waste your time -- it's not there.
Calculated Risk | Unofficial Problem Bank list increases to 988 Institutions
Here is the unofficial problem bank list for Aug 27, 2011.
Reports
NBER | Time Use During Recessions
We use data from the American Time Use Survey (ATUS), covering both the recent recession and the pre-recessionary period, to explore how foregone market work hours are allocated to other activities over the business cycle.
RCM: Wells Fargo | Spending Bounces Back in July but Income Is Still Lagging
Consumer spending jumped 0.8 in July, more than making up for the 0.1 percent drop in June. Spending for services and durable goods accounted for most of the increase. Income growth continues to lag, however.
