News
FOX Business | Homebuilder Sentiment Soars to '06 Levels
U.S. homebuilder confidence rose in July to its strongest level in 7-1/2 years as tightening supply and solid demand even in the face of rising mortgage rates fueled the sector's recovery, data from the National Association of Home Builders released on Tuesday showed.
Bloomberg | Deutsche Bank Among Lenders Given Two-Year U.S. Swaps Phase-Out
Deutsche Bank AG (DBK), the European continent’s biggest bank, is among lenders given an extra two years by the Federal Reserve to separate derivatives trading from U.S. units that get government backing.
Market Watch | Industrial production climbs 0.3% in June
Industrial production rose 0.3% in June, led by a 2.2% gain in home electronics output and a 1.4% gain in automotive products, as well as a 0.8% gain in mining production, the Federal Reserve said Tuesday.
Econ Comments & Analysis
Fortune | Goldman Sachs' profits double
Earnings showed how Goldman is trying to remake itself into more of a traditional bank, even as risky trading remains.
WSJ | Land Mines in the Derivatives 'Path Forward'
Last week's announcement of a "Path Forward" by the U.S. Commodity Futures Trading Commission and the European Commission is an important step toward coordinating the rules for derivatives trading.
Fortune | The lowdown on China's slowdown: It's not all bad
A slower-growing economy could allow for more investment in things that make China a happier, healthier place over the long run.
Washington Times | Fracking is greener than critics claim
The only thing deeper than a natural-gas well is the ignorance of the anti-fracking crowd.
Blogs
Library of Economics | Krugman's Graph on Food Stamps
Check out Paul Krugman's graph of participation in the food stamp (SNAP) program and U6 unemployment. MAKE SURE YOU LOOK ONLY AT THE GRAPH.
Library of Economics | Trading With Foreigners: What's In It For Us?
Arguments against international trade and immigration are classic examples of people ignoring Bastiat's lesson and focusing only on what is seen while ignoring what is unseen. What, people ask, is in it for *us* if we trade with foreigners?
