News
CNN Money | White House touts wind energy growth
The Obama Administration is calling for continued government support of wind energy, touting a new report showing that it accounted for nearly a third of new electric capacity added in the United States last year.
Market Watch | NFIB small-business index slips in July
A measure of small-business optimism declined in July, the second drop in a row, the National Federation of Independent Business said Tuesday. The small-business optimism index slipped 0.2 point to 91.2, led by a 5-point drop in a component measuring earnings trends.
Bloomberg | Euro-Area Economic Output Contracted on Spain: Economy
The euro-area economy shrank in the second quarter after the worsening debt crisis and tougher budget cuts forced at least six nations into recessions.
CNN Money | Survey says: Fewer affordable homes
It just got a little harder for most Americans to buy a home, according to an industry survey.
Bloomberg | Retail Sales in U.S. Increased More Than Forecast in July
Retail sales in the U.S. rose more than forecast in July as consumer spending rebounded at department stores, auto dealers and electronics outlets, easing some concern the biggest part of the economy was foundering.
CNN Money | Retail sales climb for 1st time in 4 months
U.S. retail sales rose for the first time in four months in July, an encouraging sign that the economy may have started strengthening in the middle of the summer.
WSJ | Pain Deepens for Greece's Economy
Greece's economy remained deep in recession in the second quarter of the year, contracting by 6.2% on an annual basis, further complicating the coalition government's efforts to introduce the next batch of austerity measures and meet fiscal targets demanded by international creditors.
Econ Comments & Analysis
Washington Times | Red tape shackles small-business owners
A Michigan teen and his mother are living in a shelter for the homeless after a city shut down the teen’s hot-dog stand. Thirteen-year-old Nathan Duszynski saved $2,500 to start his own business and then diligently secured permission from both the state and city hall to operate downtown.
WSJ | Even Amid the Current Turmoil, Stocks Still Beat Bonds
The stock market continues to reflect the very modest economic recovery now under way in the United States. From January 2011 through mid-August 2012, the S&P 500 has produced moderate single-digit total returns. But many individual investors are not participating.
Washington Times | Democrats’ food-stamp foolishness
Do you know what Maryland gives its welfare recipients so they can access cash and food benefits? An “Independence Card.”
Heritage Foundation | Offshore Drilling: Increase Access, Reduce the Risk, and Stop Hurting American Companies
Oil companies are not only eager to drill off America’s coasts—they are enthusiastic about creating jobs and bringing more oil to the world (and the American) market, which, in turn, will help lower gas prices.
Forbes | President Obama's Smashing Success Story: Greatly Increasing The Power Of Government
The traditional measure of the success of an Administration’s economic program has been real economic growth, employment growth, the unemployment rate and the like. Based on these criteria, the Obama Administration’s economic program has been a dismal failure
CATO | Economic Lessons from the Olympics
Civilization can only advance when individuals are both encouraged and rewarded for excellence. The men and women who designed, built, and succeeded in placing the new SUV-sized rover on Mars receive and deserve our acclaim.
NBER | Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record
Do steep recoveries follow deep recessions? Does it matter if a credit crunch or banking panic accompanies the recession? Moreover does it matter if the recession is associated with a housing bust? We look at the American historical experience in an attempt to answer these questions.
Businessweek | Nouriel Roubini on Threats to the Global Economy
A professor at New York University and chairman of a consulting firm that bears his name, Roubini earned the nickname Dr. Doom for predicting hard times before the financial crisis began in 2008. He talks with Peter Coy about his current outlook.
Blogs
Economist | We haven't forgotten how to make depressions
Greece is in a depression. A real deal, no kidding, bad-as-the-1930s depression. In the second quarter, Greek output contracted again, as it has in every quarter since the last three months of 2008.
Daily Capitalist | Eurozone Banks Exiting U.S.
Since the outbreak of the financial crisis in 2007, Europe’s banks have been gradually retreating from the US market, thereby making room for others to step in.
John Taylor | Paul Krugman is Wrong
Paul Krugman took time off from his vacation last Friday to take a shot at a paper by Kevin Hassett, Glenn Hubbard, Greg Mankiw and John Taylor on the growth and employment impacts of Governor Romney’s economic program in comparison with President Obama’s program. Though flaming with vitriolic rhetoric, his shot misses the mark.
