News
WSJ | Deeper Slowdown Suspected in China
Official data due this week are expected to show growth in China slowing to its lowest rate since the global financial crisis. But some economists say they are turning up evidence that the true picture could be even worse.
USA Today | Fed officials warn of looming problems for economy
The Federal Reserve is open to taking further action to support the struggling U.S. economy. But minutes of the Fed's June meeting show policymakers at odds over whether the economy needs more help now.
Market Watch | Fewer underwater homeowners in 2012: CoreLogic
About 11.4 million U.S. residential properties were in negative equity at the end of the first quarter of 2012, down from about 12.1 million properties in the same position at the end of 2011, according to CoreLogic Thursday.
WSJ | Congress Nears Showdown Over Food-Stamp Funding
House and Senate lawmakers are headed for a collision over funding for food stamps, the big nutrition-assistance program for low-income Americans, in the latest skirmish in the larger battle over the size and scope of federal entitlement programs.
CNN Money | Wall Street: More volatility on the way. Thanks, Congress!
Following the stock market's rough run in the aftermath of the debt ceiling drama last summer, Wall Street experts are warning investors to buckle up for another a roller coaster ride.
WSJ | Housing Passes a Milestone
The U.S. finally has moved beyond attention-grabbing predictions from housing "experts" that housing is bottoming. The numbers are now convincing.
WSJ | U.S. Trade Gap Narrows
The U.S. trade deficit narrowed for the second straight month in May, as exports picked up and falling oil prices helped drive down imports.
Bloomberg | Housing Rebound Signaled as Banks Resume Foreclosures: Mortgages
U.S. lenders are notifying more delinquent homeowners they face foreclosure, a step toward clearing a backlog of properties and helping to accelerate a housing recovery.
USA Today | 3-D printing could remake U.S. manufacturing
About 20 miles east of Pittsburgh, the former heart of the nation's steel industry, a small company called ExOne is churning out a new generation of stainless steel boat propellers, oil pump parts and door knobs.
Econ Comments & Analysis
Real Clear Markets | ObamaTax Will Make Insured Sicker, More Costly
Taxes are constitutional, according to the Supremes, but the tax provisions of the Patient Protection and Affordable Care Act won't make people sign up for health insurance.
Atlantic | Only Government Intervention Can Stop Corrupt Capitalism
At the core of capitalism are powerful forces that, if unconstrained, cause corporate corruption, as reflected in two recent corporate scandals, one involving Barclays and a second involving GlaxoSmithKline.
Politico | Start-ups key to economic revival
The most revered profession in the halls of Congress is the entrepreneur. We spend much of our time encouraging their success; supporting the small businesses they create, and debating how to replicate more of them.
WSJ | An Eminently Bad Idea
The housing bust has produced some terrible ideas, but now comes what may be the worst: A California county and two cities hit hard by foreclosures are thinking of using eminent domain to seize mortgages from private investors.
Washington Times | Don’t hate on oil companies
Between now and Election Day, you will be hearing a lot from Washington interest groups, Capitol Hill politicians and President Obama, demanding that Congress “repeal tax breaks for Big Oil” or “make the oil companies pay their fair share.”
Blogs
Reuters | How economists get tripped up by statistics
Look at this scatter chart. There will be a quiz. Another dot is going to be added to this chart, in line with the distribution you see here. You get to choose what the X value of the dot is — and your aim is to get a Y value of greater than zero. So here’s the question: at what value of X are you going to have a 95% chance of getting a dot above the axis, in positive territory on the Y axis?
AEI | Economic mobility is alive and well in America
Video above is from Reason.tv, which accompanies this article “84 Percent of Americans Are Richer than Their Parents Were at the Same Age.”
