News
CNN Money | China GDP growth slows to 7.5%
China's economy grew at a slower pace in the second quarter, continuing a trend that will test the country's leaders as they seek to execute painful structural reforms.
Market Watch | Empire State index accelerates in July
The Empire State manufacturing survey rose in July for the second month and has now been in positive territory for five of the last six months, the New York Fed said Monday.
Bloomberg | Corporate Spending Set to Surge in U.S.
Companies in the U.S. are beginning to empty their deep pockets and boost capital spending as they look past the specter of sequestration and global growth risks.
Econ Comments & Analysis
WSJ | The 2016 Disability Insurance Time Bomb
Social Security for retirement and Medicare are the best known of the major entitlement programs with looming financial disasters. While some argue about when they will run out of money, their projected 75-year unfunded liabilities grow larger every year and now total $40 trillion, much worse thereafter.
Washington Times | Why Obama’s smart-government initiative is dumb
President Obama wants to make government “smarter.” Who could disagree with that? After all, it’s unlikely that even the biggest fans of big government think the way government does what it does is the very best, very smartest way imaginable. Whether you’re an anarchist, a Leninist or somewhere in between, everyone can agree that Uncle Sam could afford a few more IQ points.
Blogs
Heritage Foundation | A Band-Aid for Derivatives Trading
American regulators yesterday agreed, both internally and with the European Union, on how to deal with the trading of financial derivatives beyond U.S. shores. The EU and U.S. essentially decided to treat each other’s rules as “close enough.”
