News
WSJ | Taiwan GDP Unexpectedly Shrinks
Taiwan's economy unexpectedly shrank in the second quarter from a year earlier, the first on-year contraction since the third quarter of 2009 when the country was under pressure from the global financial crisis, as exports and consumption sagged.
Bloomberg | Home Prices in U.S. Fell Less Than Forecast in Year to May
Residential real estate prices declined less than forecast in the year ended May, another sign that the housing market is on the mend.
CNBC | Wanted: Wealthy Spenders to Boost Recovery
The shaky economic recovery may depend on wealthy consumers to keep spending — and they may not have the confidence to do the job.
Market Watch | Consumer spending falls again in June
U.S. consumers reduced spending for the second straight month despite a sharp increase in wages, boosting their savings rate to the highest level in a year.
CNN Money | Manufacturing boom: Trade school enrollment soars
Trade schools nationwide are bursting at the seams as demand for skilled factory workers pushes enrollment to record highs.
WSJ | In Crisis, a Rare Swede Spot
Sweden's economy, bolstered by solid exports and healthy consumer spending, is picking up considerable steam even as many of its European neighbors gasp for breath amid the struggle to contain the euro-zone debt crisis.
CNN Money | Report slams for-profit schools for expensive tuition, high drop-out rate
U.S. taxpayers spent $32 billion last year on for-profit private schools, despite the sector's relatively high drop-out rate, according to a congressional investigation released Monday.
Market Watch | Fewer foreclosed homes in June: CoreLogic
There were about 60,000 completed foreclosures in June, down from about 80,000 in the same month last year, according to CoreLogic Tuesday.
Econ Comments & Analysis
Fortune | America's new work ethic?
New welfare rules and booming disability insurance rolls reveal a bias toward aid checks over paychecks.
WSJ | An Intriguing Idea to Encourage Bank Lending
The Olympics aren't the only thing happening across the pond these days. The Bank of England is about to launch a creative "Funding for Lending Scheme" to boost bank lending.
Washington Times | No excuse for bad policies
The Obama administration and its apologists, including many in the media, keep telling us that the Great Recession was the worst since the Great Depression in the 1930s, and that is why the recovery has been so anemic. Is that true?
WSJ | 'A Climate That Helps Us Grow'
President Obama's riff on small business—"If you've got a business, you didn't build that, somebody else made that happen"—has become a major controversy.
News Day | Milton Friedman, a centennial appreciation
At the height of the Vietnam War, U.S. commander Gen. William Westmoreland testified before the President's Commission on an All-Volunteer Force. The 15 members of that commission were charged with exploring the feasibility of ending the military draft.
Washington Times | Crony capitalism, Countrywide and Congress
“Crony capitalism” has become a popular buzz phrase when speaking of the bailouts as American taxpayers struggle to make sense of the corrupt relationships that led to the financial crisis.
Blogs
WSJ | Halfway Through, 2012 Has Been a Disappointment
This year began with such hopeful expectations–almost all of which have been dashed.
Heritage Foundation | The Sweet Fruits of Free Trade
After years of delays and renegotiations, a free trade agreement between the United States and South Korea (KORUS) finally took effect four months ago. Some parts of the U.S. economy are already bearing sweet fruit.
National Review | Must-Read Case Study of Government Gone Wild: Ohio Edition
How did the State of Ohio go from being one of America’s top economies to an economic basket case?
AEI | Obama’s overly optimistic economic forecasts
How much confidence should Americans have in the latest economic forecasts from the Obama White House? In its latest update, Obama’s Office of Management and Budget slashed its GDP forecast for 2012, to 2.3% from 2.7%, and for 2013, to 2.7% from 3.0%. Pretty tepid growth.
