News
Bloomberg | Lacker Says Markets to Stay Volatile as Fed Debates Tapering
Federal Reserve Bank of Richmond President Jeffrey Lacker, who dissented against additional stimulus at every Fed meeting last year, said financial markets will remain volatile as policy makers debate how and when to curtail the central bank’s asset purchases.
FOX Business | Consumer Sentiment Improves in Late June
U.S. consumer sentiment improved in late June, ending the month close to a near six-year high set in May, as optimism among higher-income families rose to its strongest level in six years, a survey released on Friday showed.
Bloomberg | German Retail Sales Rise Amid Signs of Recovery: Economy
German retail sales rose more than economists forecast in May, adding to signs that a recovery in Europe’s largest economy has gathered pace amid record-low interest rates, while inflation accelerated.
Econ Comments & Analysis
Washington Times | The human toll of the Obama economy
Forget everything you’ve been told by President Obama about the economy getting “stronger,” or what you’ve heard on the nightly news about the “solid” recovery.
Real Clear Markets | Shadow Inventory Could Force a Housing-Market Collapse
For more than 3 years, I have provided compelling evidence that all the talk about a housing recovery is nonsensical. I have shown that the Case-Shiller Index is built on questionable assumptions and gives much greater weight to certain kinds of home sales, which distorts the raw data beyond recognition.
Washington Times | The U.S. is coasting on the fumes of past greatness, following the Roman road to ruins
By A.D. 200, the Roman republic was a distant memory. Few citizens of the global Roman Empire even knew of their illustrious ancestors such as Scipio or Cicero. Millions no longer spoke Latin. Italian emperors were rare. There were no national elections.
Fortune | Prepare for a slowdown in housing prices
For many months now, U.S. home prices have risen to new highs as the housing market recovers from one of the worst crashes in recent history. The rebound comes as more Americans find jobs and as homebuyers work their way through the remaining housing inventory following years of lackluster construction.
WSJ | Monthly Economic Data Aren't Reliable
Today, nearly every useful U.S. economic indicator—from GDP growth to employment to housing data—is incorrect when it is initially released. Better data do become available, and revised estimates are made public as time passes. But economic policy and business decisions are made with initial data that are plainly inaccurate—and this can lead to mistakes, including hasty changes in direction.
