News
FOX Business | June Trade Deficit Narrowest Since ’09
The U.S. trade deficit narrowed sharply in June to its lowest level in more than 3-1/2 years as imports reversed the prior month's spike, suggesting an upward revision to second-quarter growth.
CNN Money | Mortgage closing costs up 6% this year
Homebuyers may have enjoyed record low mortgage rates over the past year, but they were paying a pretty penny when it came time to close the deal.
Market Watch | Obama calling for housing-finance reform
President Barack Obama is calling on Congress to move forward with legislation to reform the country's housing-finance system by increasing the role of private capital, cutting taxpayers' risks, and winding down federally controlled mortgage buyers Fannie Mae and Freddie Mac .
NY Times | Chicago Sees Pension Crisis Drawing Near
Corporations are moving in, and housing prices are looking better across the region. There has been a slight uptick in population. But a crushing problem lurks beneath the signs of economic recovery in Chicago: one of the most poorly funded pension systems among the nation’s major cities.
Econ Comments & Analysis
Bloomberg | Americans With Best Credit in Decades Drive U.S. Economy
Americans have made progress putting their finances in order and are ready to borrow again -- giving the world’s largest economy another driver of spending and growth.
Real Clear Energy | Washington Politics and High Gas Prices
High summertime gasoline prices aren’t anything new. As the temperature rises each year, without fail, so too, does the cost of a gallon of gasoline. While this summer is no exception, the price difference over the last year is startling. According to AAA, American drivers are paying 23 cents more per gallon this July than the same time last year.
WSJ | Obama's False History of Public Investment
For almost five years now, President Obama has been making the argument that government "investments" in infrastructure are crucial to economic recovery.
Forbes | We're In A Cultural War Between The Forces Of Economic Dynamism And Stasis
The fight for economic liberty is a moral and virtuous struggle—one I believe we can win. Just as a small amount of yeast raises a whole loaf of bread, victory does not require that we gain majorities, only that our cultures provide enough respect and support for the bourgeois virtues to ensure that entrepreneurs retain the freedom necessary to strive, and by so doing make the world better.
Blogs
WSJ | Vital Signs Chart: Nonmanufacturing Expansion
The ISM Nonmanufacturing Index climbed in July, but service-sector businesses expressed reservations about their economic prospects.
