News
Bloomberg | Durable-Goods Drop Imperils Outlook for U.S. GDP Pickup
Orders for durable goods dropped in July by the most in almost a year, calling into question the strength of the projected pickup in U.S. growth.
Politico | When energy dreams fall short
If the energy visions of past years had come true, throngs of Americans would be using switchgrass to fuel their cars and running their homes on electricity from nuclear fusion or carbon-capturing coal plants.
CNN Money | Merger to create second biggest stock exchange
In yet another blow to Nasdaq, two of its main rivals-- BATS and Direct Edge-- announced a merger Monday morning that will create the second largest stock exchange by volume.
Bloomberg | Euro-Area Economic Confidence Seen Up to 17-Month High
Economic confidence in the euro area probably rose to the highest level in 17 months in August, adding to signs that the currency bloc’s recovery from a record-long recession is gathering pace.
Washington Times | Spendopedia: Federal waste collection site opens on Internet
Has government waste become so bad that we need an encyclopedia to keep track? One watchdog group seems to think so and has started a publicly edited, crowdsourced website that compiles cases of fiscal abuse, modeled after the popular site Wikipedia.
CNBC | Home prices across the US defy gravity despite rising rates
The surge in home prices over the past year may have some homebuyers wondering if the market has gotten ahead of itself. Rising interest rates aside, however, housing prices in most parts of the country appear to have plenty of room to move higher if the wider economic recovery remains intact.
Econ Comments & Analysis
WSJ | Bankers Haven't Gone Rogue—Regulators Have
Readers of the Journal surely have noticed that hardly a day goes by without a story about some new federal fine or legal action against a major international bank. Banks have always had problems and the usual element of corporate misbehavior. But by historical measure, the government's current assault on financial institutions is not normal.
Politico | The real threat to the open Internet
What started as a commercial dispute over TV rights (known as “retransmission consent”) between CBS and Time Warner Cable (TWC) has escalated in a troublesome wayhar. A breakdown in carriage negotiations that affects some three million television subscribers is also denying access to Internet content to more than 11 million TWC broadband subscribers.
Economic Times | We're all still hostages to the big banks
Nearly five years after the bankruptcy of Lehman Bros. touched off a global financial crisis, we are no safer. Huge, complex and opaque banks continue to take enormous risks that endanger the economy.
Bloomberg | Rapid U.S. Growth Is Missing, Not Gone Forever
We are now about five years into the deleveraging, and the related slow global growth, that followed the 2008 financial crisis. My forecast is for another five years of unwinding the excess borrowing by banks worldwide, U.S. consumers and many other sectors.
AEI | Get onboard shale revolution
As an economist, the transparent political melodrama over the production of shale gas concerns me. Energy companies are unable to drill for natural gas on government land and in some states like California and New York, because of unreasonable restrictions on the advanced drilling technology known as hydraulic fracturing, or “fracking.”
Blogs
Economist | What was mercantilism?
Mercantilism is one of the great whipping boys in the history of economics. The school, which dominated European thought between the 16th and 18th centuries, is now considered no more than a historical artefact—and no self-respecting economist would describe themselves as mercantilist.
Market Watch | Regulators may let lenders avoid holding stake in mortgages without 20% down payment
Federal regulators may ease rules on the types of mortgage securities in which lenders will be required to keep a stake, according to recent news reports.
