News
Bloomberg | Economy in U.S. Expanded at a 2.5% Annual Rate Last Quarter
The economy expanded at faster pace in the second quarter from the previous three months, a sign the U.S. was weathering federal budget cutbacks and higher taxes.
CNN Money | Mortgage rates dip as Fed holds stimulus steady
Mortgage interest rates fell after the Federal Reserve said last week that it won't pare back its stimulus program.
Bloomberg | Pending Sales of Existing Homes in U.S. Decreased 1.6% in August
Fewer Americans signed contracts in August to buy previously owned homes, a sign that rising mortgage rates may have slowed housing market momentum.
Econ Comments & Analysis
Washington Times | The late, great middle class
Mr. Obama promised to restore the middle class. In truth, he has enacted the very policies that have done it the most damage in years. That paradox may explain why his base of support remains the very rich and the very poor. Goldman Sachs, federal bureaucrats and aid recipients are helped in a way that the strapped hardware store owner, Starbucks barista and part-time welder are not.
Fortune | Corporate profits: Not as good as they seem
Margins, the percentage of each sale that ends up as profit, as measured by GDP, have never been this high. They hit a record near the beginning of 2011, and have continued to march up. At the end of June, corporate profit margins were 11.5%. That's two percentage points higher than the roughly 9.5% they peaked at in 2006.
Forbes | Why Does The U.S. Economy Sag? Look No Further Than The Number 17
The significant efforts in recent years to measure economic freedom did not come from universities. They came from think tanks. These efforts are a powerful proof that think tanks are an essential institution in civil society. More than that, the “freedom truths” they affirm are vital for the world and the United States. This is crucial information that we all need to know.
CRS | Shutdown of the Federal Government: Causes, Processes, and Effects
When federal agencies and programs lack appropriated funding, they experience a funding gap. Under the Antideficiency Act, they must cease operations, except in certain emergency situations or when law authorizes continued activity.
Blogs
WSJ | Vital Signs: Second-Quarter GDP Details Are Plus for Third-Quarter Growth
The second quarter is far back in the rearview mirror—but the latest estimate of the spring gross domestic product offers one good bit of news for third-quarter growth.
