News
Washington Times | U.S. rate on 30-year mortgage: 3.49 pct., new record
The average rate on the 30-year fixed mortgage fell again, this time dropping below 3.50 percent for the first time on records dating back 60 years.
WSJ | Aircraft Orders Push Up Durable Goods
Orders for long-lasting goods rose in June as aircraft sales surged, though falling demand elsewhere offers the latest sign of a slowing recovery.
Econ Comments & Analysis
Real Clear Markets | Sorry Mr. President, Your Economic Plan Didn't Work
President Obama tells a group of donors that "we tried our" economic plan "and it worked." Even in politics, where exaggeration is a way of life, that statement stands out as a lie for the ages.
Real Clear Markets | Large Business Vs. Small: The Ongoing Debate
Last week, Jared Bernstein wrote a good post on the differences in job gains between small and large firms. This is a perpetual debate that gets unfortunately (and inevitably) wrapped up in political persuasion, paeans to the virtues of small business, hostility toward big business, and arguments over "good" and "bad" jobs. All of this is further compounded by statistical confusion.
WSJ | New York's Charter Schools Get an A+
During the eight years I served as chancellor of New York City's public schools, the naysayers and the apologists for the status quo kept telling me "we'll never fix education in America until we fix poverty."
Blogs
Calculated Risk | Real GDP increased 1.5% annual rate in Q2
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.5 percent in the second quarter of 2012
Keith Hennessey | The policy consequences of “you didn’t build that”
“You didn’t build that,” and “You didn’t get there on your own,” and “blessed” and “fortunate” have one thing in common. They deemphasize the idea that success is earned. This makes it easier for President Obama to justify taking more from those who have succeeded.
Café Hayek | The worst part of Dodd-Frank
The illuminating part is that TWO YEARS after Dodd-Frank passed, its provisions are not completely specified. Frank resents the claim that it’s not even half done, but that’s quibbling.
