News
WSJ | Sluggish Economy Plagues Europe
Euro-zone manufacturing activity contracted sharply in June and unemployment hit a record, in the latest sign that Europe's economic problems are worsening amid the region's debt crisis and a broader global slowdown.
Washington Times | Oil jumps to near $86 as Iran could block seaway
The price of oil jumped to near $86 a barrel on Tuesday as markets weighed the effects of sanctions against Iran and the possibility that Tehran could block a key Middle East shipping route.
WSJ | Factory Slump Reaches U.S.
The U.S. factory sector shrank in June for the first time since July 2009—the first month of the economic recovery—the Institute for Supply Management said Monday. Exports fell, and new orders, which gauge future factory activity, dropped at their fastest pace since the post-9/11 plunge in October 2001.
Blooomberg | IMF Lowers U.S. Growth Projections to 2 Percent
The U.S. economy will grow by 2 percent this year and about 2.25 percent in 2013 amid a “tepid” recovery and the European debt crisis, the International Monetary Fund said, lowering its previous projections.
Econ Comments & Analysis
Market Watch | IMF: German economy 'remarkable;' banks vulnerable
The International Monetary Fund on Tuesday praised Germany's economic performance as "remarkable" in the face of "considerable headwinds," while urging authorities to take steps to spur domestic demand growth and warning that the nation's banks remain vulnerable to an intensification of the euro-zone debt crisis.
Mercatus | Cronyism In the Sugar Industry: Comparing U.S. to World Prices
The nearly $1 trillion Farm Bill recently passed in the Senate contains one of the worst cases of cronyism: protection granted to the sugar industry.
WSJ | What Life Was Like in 1776
Almost every American knows the traditional story of July Fourth—the soaring idealism of the Declaration of Independence, the Continental Congress's grim pledge to defy the world's most powerful nation with their lives, their fortunes and their sacred honor.
CNBC | US Economy May Be Bottoming Out: Economist
A surprise contraction in U.S. manufacturing activity in June has raised the prospects of a worsening slowdown in the U.S., but one economist says the economy may actually be showing signs of bottoming out.
Fortune | Dear America: It's time to up our entrepreneurial game
The old paradigm -- get good grades, go to college, get a job, start a family -- is becoming a luxury for the few. How much longer are we going to tell this generation that "good" jobs will simply reappear?
USA Today | Opposing view: Don't rely on refinancing
The Federal Reserve continues its efforts to lower interest rates and the administration keeps expanding mortgage refinance programs, all in an effort to promote more lending. One result has been 14 million residential refinances since 2009.
Blogs
Heritage Foundation | Uncle Sam Simultaneously Attacks and Subsidizes Soda Consumption
The federal government has financed a multi-million dollar ad campaign in New York City and elsewhere attacking sugary soft drinks. But legislation passed last week continues subsidizing sugar producers, and allows food stamp recipients to buy soda and other supposedly unhealthy foods with taxpayer money.
Heritage Foundation | Morning Bell: The Energy Revolution and Its Discontents
With all the gloomy economic news coming out of late, one bright spot flew under the radar last week: the United States is poised to be the proverbial center of the energy universe.
