News
Market Watch | Barclays ups Q2 GDP estimate to 2.2% after trade
Barclays Capital on Thursday raised its forecast of U.S. second quarter gross domestic product to a 2.2% annual rate versus the initial government estimate of 1.5% rate as a result of the postive June trade data.
CNN Money | Stocks: Investors move to the sidelines
U.S. stocks nudged higher Thursday as investors digested a handful of economic reports, including the latest data on unemployment claims and reports on the Chinese economy.
Bloomberg | China Factory Slowdown Raises Pressure for Easing
China’s industrial-output growth unexpectedly slowed in July to a three-year low while investment and retail sales missed estimates, raising pressure on Premier Wen Jiabao to step up efforts to support expansion.
Washington Times | Citigroup initiates program to let troubled homeowners pay rent
Citigroup Inc. will try something new to keep struggling homeowners out of foreclosure: turn them into renters.
Washington Post | Cheaper oil pushes US trade deficit to lowest level since December 2010
The U.S. trade deficit fell to its lowest level in 18 months in June, pushed down by a steep drop in oil imports and a rise in exports.
Bloomberg | Home Prices Increase in Most U.S. Metropolitan Areas
Prices for single-family homes climbed in most U.S. cities in the second quarter and values nationally jumped the most since 2006 as real estate markets stabilized.
CNN Money | Nuclear waste issues freeze permits for U.S. power plants
The U.S. government said it will stop issuing permits for new nuclear power plants and license extensions for existing facilities until it resolves issues around storing radioactive waste.
Econ Comments & Analysis
Real Clear Markets | Markets, Not Mandates, Are the Key to Sustainable Development
What exactly is sustainable development? Former Norwegian Prime Minister Gro Brundtland, speaking at the United Nations' Stockholm Conference in 1972, described it as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."
Washington Times | Olympian folly of economic stimulus
In 1997, the International Olympic Committee announced that the 2004 Summer Olympic Games would be hosted in the competition’s ancestral birthplace of Athens, Greece. Greek citizens were euphoric about the boost the games would bring their country.
Daily Caller | Study: Census data show high immigrant participation on US welfare rolls
A new study from the Center for Immigration Studies shows that high percentages of legal and illegal immigrants in America are drawing benefits from at least one major form of welfare.
WSJ | A Lesson in Crony Capitalism
Jorge Luis Borges used to say that the Argentine people suffered under "too many messiahs." Their current president, Cristina Kirchner, certainly preaches like one.
Blogs
Calculated Risk | MBA: Mortgage Delinquencies increased in Q2
The MBA reported that 11.85 percent of mortgage loans were either one payment delinquent or in the foreclosure process in Q2 2012 (delinquencies seasonally adjusted).
Heritage Foundation | Morning Bell: Higher Gas Prices Add to Economic Slump
Unemployment is at 8.3 percent. The economy is sputtering at 1.5 percent growth. Food prices are rising due to drought conditions across the country. And gas prices are up again, pinching Americans’ summer budgets. It is past time for the President and Congress to pursue smart policies that would put us on a path to relief.
WSJ | Wholesale Inventories Drop
Inventories at U.S. wholesalers fell slightly in June as the value of petroleum stockpiles plunged.
