News
CNBC | Earnings Show Recession May Be 'Fast Approaching'
While this quarter's earnings reports have crossed a substantially lowered profit bar, future expectations through the year indicate a recession could be on the way.
CNN Money | 30-year mortgage rate falls to record 3.53%
Mortgage borrowing got cheaper again this week, as rates on 30-year and 15-year fixed-rate loans fell to record lows.
CNBC | The Falling Fortunes of the One Percent
The presidential election has given us two myths about the rich. First, that their incomes, and income inequality, are at all-time highs. Second, that the wealthy pay less in taxes than ever, and lower taxes than the rest of us.
Econ Comments & Analysis
WSJ | Brazil's Crisis—and Opportunity
The adolescent crush that money managers had on Brazil is wearing off. As economic growth has underperformed expectations, this big hunky Latin object of investor affection is beginning to look unsophisticated and immature.
Investors | North Dakota Boom Shows Importance Of Free Markets
These two cities have names you may not recognize but which you have probably read about in the last few years: Fremont and Williston.
Project Syndicate | American Pie in the Sky
While the risk of a disorderly crisis in the eurozone is well recognized, a more sanguine view of the United States has prevailed. For the last three years, the consensus has been that the US economy was on the verge of a robust and self-sustaining recovery that would restore above-potential growth.
Blogs
Café Hayek | Obama: right about business, wrong about government
We’re spending a trillion more dollars than we take in and we’re spending more than we ever have before. If we spent our money wisely, there would be plenty of money for the infrastucture government produces that help us work together creating businesses, wealth, and communities.
Neighborhood Effects | If You Are Successful, Did You Do It On Your Own?
I agree with those who believe the remarks seem to completely dismiss the role of the entrepreneur. I also agree with those who think the president is exaggerating the role of government. But in two important respects, I think it would be a mistake for free market advocates to dismiss the entire statement.
WSJ | U.S. Cities With Bigger Economies Than Entire Countries
Inside the $15 trillion machine that is U.S. economy are dozens of metropolitan economies, from New York to Honolulu, that are the real pistons and gears of U.S. growth and prosperity.
Calculated Risk | Schedule for Week of July 22nd
The key U.S. economic report for the coming week is the Q2 advance GDP report to be released on Friday; this is the last major economic release before the FOMC meeting the following week.
Café Hayek | A Further Word on Fraud and the Proper Role of the State
This post is (almost surely) the last one that I’ll write on my disagreement with Arnold Kling’s praise of the Consumer Financial Protection Bureau for taking action against Capital One for pushing products that Arnold thinks (as I do) to be worthless.
Library of Economics | The Economics of the Olympics
There's a widespread view that holding the Olympics must be a money-losing proposition. One of our frequent commenters, Tom West, expressed that view recently. That view is understandable because losing money has been the norm.
Café Hayek | Bright Lines, State Action, & Fraud
Arnold Kling ably defends his defense of the Consumer Financial Protection Bureau’s action against Capital One for offering to sell to consumers “payment-protection” and “credit-monitoring” products.
Library of Economics | Education and Disruption
With MOOCs, now anyone in the world with an internet connection can download and watch lectures from eminent experts at top universities, for free, and hundreds of thousands have done so. This is indeed a huge leap forward in the area of knowledge transfer.
Political Calculations | Barack Obama: Crony Capitalist in Chief? Part 2
It would be one thing if it were only GE, GM and individual American consumers who were involved, but under President Obama's federal government, every American taxpayer is being forced to contribute to all this waste for no meaningful purpose other than benefiting the members of the club.
Calculated Risk | Unofficial Problem Bank list declines to 905 Institutions
This week just about every type of change occurred except for the issuance/termination of a Prompt Corrective Action order.
National Review | Good Economics but Bad Politics?
On Wednesday, NPR’s Planet Money had a very good segment that listed six policies that economists from all sides of the political spectrum could agree on but no politicians would ever dare to run with.
