News
Bloomberg | German First-Quarter Growth Damped by Construction, Investment
The German economy’s return to growth in the first quarter was hampered by declines in construction activity and investment as a severe winter and a recession in Europe damped demand.
CNN Money | Poor hit hardest by Washington budget cuts
Forced federal spending cuts intended to be equal and across-the-board have lately fallen harder on the nation's poor, sick and elderly.
Bloomberg | Orders for U.S. Durable Goods Increase More Than Forecast
Orders for U.S. durable goods increased more than forecast in April, pointing to gains in business investment that will help manufacturing rebound in the second half of the year.
CNBC | Two Storms Brewing: One Political, the Other Economic
Have two Pandora's Boxes been opened? Fed Chairman Ben Bernanke may have opened the first one. No matter that it is highly unlikely economic data will come in showing sufficient strong and sustained growth to justify tapering bond purchases any time soon — markets see it differently.
Econ Comments & Analysis
Fiscal Times | Why A ‘Too Big to Manage’ Government Should Downsize
To listen to press secretaries and congressional hearings, one might think that an epidemic had erupted in the nation’s capital – an epidemic of incompetence and absentee leadership. Practically no area of government has immunity from this disease, whether it’s at the White House, the State Department, the IRS and Treasury, or at the Department of Justice.
WSJ | The Global Solar Cartel
The Obama Administration and European Union are looking for ways to avoid a trade war with China over solar-energy panels. Their brilliant proposed solution? A global cartel enforced by government.
Mercatus | Reforming Social Security to Better Promote Retirement Security
My testimony focuses on the Social Security program’s incentives—specifically, how the current structure provides disincentives to work and save. I will also discuss how Social Security reform, if done correctly, can increase US savings, labor force participation, economic growth, and federal revenues.
Blogs
Economist | Things could be better
The Pew Research Centre has released new figures assessing attitudes around the world on economic issues. The results are fascinating, sobering, and not that surprising. Things seem to have gone a bit worse since 2007 than most people had anticipated at the time.
WSJ | Don’t Get Too Excited About Record New-Home Prices
Today’s Census numbers show that sales of new homes — a key economic driver across multiple industries — are steadily recovering. But more striking is the pace at which prices of new homes are recovering.
AEI | How to beat Memorial Day traffic forever
The AAA Memorial Day travel forecast released yesterday estimates that about 31 million Americans will drive 50 miles or more to reach their destinations this weekend.
