News
WSJ | Spain's Economy Contracts
Spain's economy weakened further during the second quarter, hit by a sharp drop in domestic demand and by intense volatility in financial markets, the Bank of Spain said Monday.
WSJ | Home Prices Reflect Strengthening
Home prices in the second quarter rose from the year-ago period for the first time since 2007, according to a closely watched index, the latest indication the housing market is starting to recover.
WSJ | Euro-Zone Business Output Falls
Business activity in the euro zone contracted for the sixth straight month in July, a closely watched survey showed, with powerhouse Germany weakening and the government in Greece now predicting an even deeper economic recession for this year.
Econ Comments & Analysis
Forbes | Dear President Obama, You Can't Create Growth, But You CAN Suffocate It
Actually, Mr. President, the Declaration says that “all… are created equal,” implying equality of opportunity not equality of outcomes, not “all of us are equal.” A nuance, perhaps, but a critical one.
NY Post | ‘Too big to fail’ grows
The two-year anniversary of Dodd-Frank has come and gone, and Too Big To Fail is only growing.
Washington Times | Obama ignoring immediate economic fixes
Last month’s dismal jobs report underscored what many across the United States have known for sometime — the economic recovery remains damagingly substandard. With unemployment at 8.2 percent — and real unemployment (counting those who have left the labor force) in double digits — confidence in the economic prospects for 2012 are reaching new lows, while uncertainty among America’s businesses and jobs creators is at an all-time high.
FOX News | The coming economic collapse
The U.S. economy is teetering on the brink of another recession. The bad news is that if it goes down again, there won’t be much we can do to save ourselves. Like a weary heavyweight, if it hits the mat again, it’s down for good.
Politico | Washington isn’t broken — just broke
All of America’s problems, the liberal theory goes, are due to gridlock in Washington, and that’s due to conservatives who refuse to compromise.
Blogs
Neighborhood Effects | Fewer Government-Granted Privileges Means More Economic Growth
When governments dispense privileges to particular firms, businessmen and women learn to play politics. They lobby, campaign, and engage in other political activity in order to obtain and maintain privileges.
WSJ | Can’t Spell ‘Uncertain Outlook’ Without E-U-R-O
All eyes are once again on the euro zone. This week, Spain takes the spotlight, although Greece and Italy are still on stage. Monday’s increase in the yield on 10-year Spanish debt fanned fears that Spain will need a huge bailout, clobbering risk-on assets and boosting demand for safe-haven securities.
Daily Capitalist | Poverty Highest Since 1965
While one could quibble about comparisons to the poor in the U.S. versus other countries, the fact remains that the data tell us that people are slipping backwards. I don’t believe it’s fair to criticize the poor for their predicament.
