News
Bloomberg | Sales of Existing U.S. Homes Rise More Than Forecast
Sales of previously owned U.S. homes climbed more than forecast in May to the highest level since November 2009 and prices jumped, indicating more progress for residential real estate.
National Journal | Are Cities the Key to U.S. Economic Growth?
The same support network that makes Silicon Valley a hub for technological innovation will save Northeast Ohio and other metropolitan areas around the country.
Bloomberg | Index of Leading Indicators in U.S. Rises Less Than Forecast
The Conference Board’s gauge of the outlook for the next three to six months increased 0.1 percent after a revised 0.8 percent gain in April that was higher than initially reported, the New York-based group said today. The median forecast of economists surveyed by Bloomberg called for a rise of 0.2 percent.
CNN Money | China factory activity hits 9-month low
China's factories are faltering again, pointing to slowing growth in the world's second-biggest economy.
Bloomberg | Emerging Markets Crack as $3.9 Trillion Funds Unwind: Currencies
Investors are pulling money from emerging markets at the fastest pace in two years as slowing economic growth and the prospect of less global stimulus sink stocks, bonds and currencies from India to Brazil.
Econ Comments & Analysis
Forbes | It's Time For Congress To Privatize The Welfare State
Actually, some people do occasionally make gifts to federal entitlement programs. But gifts to the entire federal government were a paltry $241 million in 2010, the last year for which statistics are available.
WSJ | How Adam Smith Revived America's Oil Patch
The debut of a new truck engine rarely attracts much attention. But this spring Cummins Inc. released two new truck engines worthy of notice: They are designed to run on natural gas, not diesel. Natural gas is abundant, domestically produced, cleaner and cheaper than oil-derived diesel. It could help set America free of foreign oil.
Market Watch | The downsides to indexed investing
Passive index funds have been gaining massive popularity among retail investors for the last several years. The largest ETF has been for a long time the SPDR S&P 500 ETF with $140 billion under management, almost three times larger than its nearest competitor.
Washington Times | U.S. Chamber of Commerce sounds the alarm over ballooning entitlement spending
The U.S. Chamber of Commerce said Wednesday it will start a campaign to try to fix American entitlement programs, saying Social Security, Medicare and other programs are growing so quickly they will eventually crowd out other spending on infrastructure, defense and education.
CBO | Testimony on Means-Tested Programs and Tax Credits for Low-Income Households
The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets.
