News
Washington Times | Economy Brief: Government to supervise credit reporting for first time
The companies that determine Americans’ credit scores are about to come under government oversight for the first time.
Politico | The gas-price crisis that wasn't
Remember the $6 we were all supposed to be paying for a gallon of gasoline about now? It didn’t happen, despite the dramatic predictions from armchair pundits, political candidates and some in the media.
WSJ | Italian Banks Downgraded by Moody's
Moody's Investors Service lowered its long-term ratings on 10 Italian banks and its issuer ratings on three Italian financial institutions by one to two notches Monday, following its downgrade of Italy's government bond rating last week.
Washington Times | U.S. retail sales fall 0.5 percent in June
Americans cut their spending at retail businesses in June for a third straight month as a weak job market has made consumers more cautious.
Market Watch | Global recovery weak and facing dangers, IMF says
The global recovery is “weak” and faces growing downside risks coming primarily from Europe, the top economist at the International Monetary Fund said Monday.
WSJ | IMF Says Doubt Weighs On Economy
The International Monetary Fund cut its outlook for global economic growth and urged policy makers to take bolder actions to bolster the faltering recovery.
CNN Money | Oil: Only part of the Arctic's massive resources
When Royal Dutch Shell sinks five wells off Alaska -- slated for next month -- it will be the first drilling in U.S. Arctic waters in decades.
Businessweek | 'Lost Generation' of Homeowners May Just Be on Hold
Blase Hennessy is about halfway through a three-year residency in internal medicine at Wexner Medical Center at Ohio State University, with full-time job offers already wafting in. Last spring the 27-year-old flirted with the idea of buying a condo for the duration of his residency, figuring he could sell it and make a few bucks if the job market pulls him out of Columbus. Then he learned his landlord had paid $200,000 for the one-bedroom roughly five years ago.
WSJ | Greece to Begin Review of Public-Sector Entities
Greece's prime minister Monday said the government would immediately review the country's bloated public sector with the goal of closing and merging state entities to cut government spending and red tape.
Econ Comments & Analysis
Real Clear Markets | To Boost Growth, Unleash Creative Destruction
"Creative destruction," a term first used by Joseph Schumpeter, is often misunderstood, because it conflates two separate processes. "Innovative destruction" occurs when a new product, service, or methodology radically changes a market.
Washington Times | Mind your own business, Obama
President Obama thinks business owners don’t actually do anything. This is the most convincing proof yet that he has no concept of how the economy works.
WSJ | New York Fed to Barclays: 'Mm hmm'
The Federal Reserve Bank of New York released a trove of documents on the Libor scandal Friday, and the official Fed spin is that they show that regulators were "highlight[ing] problems" with Libor in 2007-2008, and "press[ing] for reform."
CNN Money | The myth of the 'Zombie Economy'
The recovery seemed to be picking up in the winter, only to then taper off in the summer. Several major indicators are barely showing a pulse these days, leading many to compare the U.S. economy to the walking dead.
CNBC | How Close Are We to New Great Depression?
The risk of a new depression — a sustained, severe recession — has struck fear into the heart of markets and driven monetary policy in developed economies since the current financial crisis began.
Blogs
Economist | A global slowdown
The IMF released new economic forecasts today, updating its April projections. In a nutshell, things aren't shaping up quite as well as they'd hoped
Neighborhood Effects | How businesses and regulators work together
The project Crony Chronicles has created a video about some of the aspects of cronyism that Matt explores in his recent paper. While the video doesn’t take a serious tone, it does shed light on the serious issues of regulatory capture and rent-seeking.
AEI | New economic data show U.S. economy at stall speed, stuck in recession red zone
Earlier this year, the Obama White House predicted the economy would grow by 3% in 2012 — which is not great by any means, not after such a big downturn in 2007-2009. But 3% is a lot better than last year’s 1.7%.
