News
CNN Money | Foreclosures made up 26% of U.S. home sales in first quarter
Homes in some stage of foreclosure accounted for more than one in four home sales during the first three months of the year, according to a report released Thursday.
WSJ | Swiss Growth Stirs Currency Doubts
Switzerland's economy surged ahead in the first quarter at a time when many of its European neighbors are struggling to generate growth, fueling doubts on the sustainability of the Swiss central bank's currency floor against the euro.
USA Today | Oil below $90 a barrel, headed for biggest drop since '08
Benchmark U.S. crude has dropped nearly 16% so far in May. There are growing expectations that the world won't use as much oil this year as previously expected.
WSJ | India's Economy Grows at Slowest Pace in a Decade
India's gross domestic product grew at its slowest pace in almost a decade in the January-March period, adding weight to growing evidence the nation's economy is heading into troubled waters.
Bloomberg | U.S. 10-Year Yield Reaches Record Low for Second Day
Treasury 10-year yields fell to a record low for a second day on concern the European debt crisis is widening and as data showed the U.S. economic expansion slowed during the first quarter.
Econ Comments & Analysis
Washington Times | Flexible fuel to end foreign oil dependence
The next time you go to buy a car, a fridge, shoes, a TV, boxer shorts or lipstick, what if there were only one choice - a single product in the marketplace for each category - take it or leave it?
Bloomberg | Restored Competition Will Lessen U.S. Inequality
The U.S. middle class is squeezed by the rising costs of college education and health care, and an economy that increasingly rewards only superstars. Fixing these problems requires introducing greater competition into each area.
WSJ | Slow Growth Amid Sluggish Job Gains
The U.S. economy slowed more than initially thought in the first quarter amid smaller gains in consumption and inventories, while corporate profits picked up. Separately, two measures of the labor market indicated continued sluggish job growth.
Washington Times | June can’t come soon enough
June is shaping up to be a pivotal month for American liberty. On one front, the Supreme Court is expected in June to hand down its decision on the constitutionality of Obamacare,
Politico | Politicians' gas price promises just hot air
The recent decline in gasoline prices has at least temporarily made this a less pressing issue in the presidential campaign. There is a real risk, however, that the summer driving season will again push the price to near $4 a gallon and that it will again assume center stage in the national political debate.
Blogs
CATO | Disadvantaged Minority: Non-Beneficiaries of Government
I would argue that the federal government should not favor people of one particular ethnic backgrounds over others. However, I think the bigger issue here is that a Commerce determination in the affirmative would be yet another step in the direction of greater government dependency.
The American | Goldman Sachs: U.S. headed for a decade of anemic, European-level growth
From 1981-2000, the U.S. economy grew at a snappy pace of about 3.4%. Then it downshifted to 1.6%—including the Great Recession—from 2001-2010. And from 2011-2020, GS expects it to grow only a bit faster—no better, really, than Europe!
National Review | Does the SEC Die if It Stops Adding New Rules?
Always looking for new ways to spread its influence, the Securities and Exchange Commission is contemplating taking another step towards stricter regulation of America’s $2.5 trillion in money-market funds.
The American | EuroCrisis 2012: How we get from here to a global depression
The big problem from our view is Spain, partially because it is too big to fail and too big to bail out. But what makes Spain different is the massive real estate bubble and overbuilding.
Daily Capitalist | The Latest Housing Data: Still Going Down
[M]ore than 30% of borrowers, or close to 16 million homeowners, were underwater on their mortgage during the first quarter, according to Zillow.
The American | Nancy Pelosi tells us how to grow the U.S. economy
Actually, our “entrepreneurial spirit,” as Pelosi puts it, depends on innovators a) being rewarded and respected for their efforts and b) being allowed to innovate without entrenched interests blocking their path through regulation and other means.
