News
WSJ | Moody's Upgrades Turkey
Turkish assets leapt higher Wednesday as Moody's Investors Service announced a long-awaited upgrade to Turkey's sovereign debt rating, citing the country's improving public finances and steps taken by Ankara to address its external imbalances.
Bloomberg | Samaras to Name New Greek Government as EU Ministers Meet
Greek Prime Minister Antonis Samaras will announce the Cabinet members of his government today after securing agreement on a coalition that will seek relief from austerity measures tied to international loans.
CNN Money | Worsening wealth inequality by race
White Americans have 22 times more wealth than blacks -- a gap that nearly doubled during the Great Recession.
Bloomberg | Manufacturing Slump Deepens From Euro Area to China: Economy
Euro-area manufacturing output shrank at the fastest pace in three years in June and a Chinese output gauge indicated contraction as Europe’s worsening fiscal crisis clouded global economic-growth prospects.
WSJ | Notes From the Education Underground
The U.S. is stress-testing Herbert Stein's law like never before, but maybe the economist's famous dictum—trends that can't continue won't—is being vindicated in education. Witness the support of America's mayors for "parent trigger," the public school reform that was denounced as radical only a few years ago but now is spreading across the country.
WSJ | Fed Warns of Risk to Economy
Federal Reserve officials extended their efforts to boost the sluggish U.S. economy and said they were ready to do more if necessary to spur job growth.
Econ Comments & Analysis
Politico | Financial regulation sans analysis
The financial crisis destroyed trillions of dollars of wealth, yet federal regulators are implementing the 2010 Dodd-Frank law, intended to prevent the next crisis, with virtually no quantitative economic analysis.
Barrons | Computerizing the Campus
The American Dream is increasingly blocked by steadily rising college costs, and America's student debt stands at more than $1 trillion. Fortunately, the combination of readily available technology and a simple regulatory change could create a low-cost or even a no-cost alternative path toward a college degree.
Market Watch | U.S. CEOs less optimistic about economy
The leaders of America’s largest companies are turning more cautious about the U.S. economy’s growth prospects.
Politico | Opening federal lands for energy
There’s a domestic energy resurgence in parts of our country just like the California Gold Rush of 1848. But today’s Sutter’s Mill is in the Williston Basin in North Dakota and the Utica and Marcellus formations in the Midwest and Eastern United States.
Real Clear Markets | Pipelines: The Safest Way to Move Fuel
The administration appears unwavering in its decision to block construction of the Keystone XL Pipeline, which would bring oil from Canada, our closest trading partner, to American refineries in the Gulf of Mexico.
Bloomberg | The One Man Who Can Save Europe
The European Union’s audacious policy of not having a policy to deal with its economic crisis has almost run its course.
Blogs
Political Calculations | Explain This Chart!
In this chart, we observe that the ratio of the U.S. National Average Wage Index starts off at a level 127.3% of the U.S.' GDP per Capita in 1951, slowly rises to peak at 137.8% of GDP per Capita ten years later in 1961, then falls steadily for the next three decades until 1994 when it flattened out at around 88.3% of the U.S.' GDP per Capita.
Keith Hennessey | It’s not just the economy, stupid
James Carville’s line from the 1992 campaign, “The economy, stupid,” may be too narrow this year. Yes, the domestic economy is the most important subject for the election. But the U.S. economy may not be the only subject this fall, and if we drill down further we can find complexities beyond the simplistic political analysis of “Economy bad, incumbent loses.” President Obama’s economic campaign challenge is multidimensional.
AEI | The Big Downgrade: Federal Reserve slashes 2012 economic forecast
Economists across Wall Street have been cutting their 2012 economic forecasts, and now the Federal Reserve has gotten in the act.
Economist | Germany, Greece and the Marshall Plan, a riposte
I have read with great interest Mr Ritschl’s criticism of my article in the New York Times, in which I argued that Marshall aid to West Germany was low compared to the outside world's recent assistance to Greece.
