News
CNN Money | Why the Kentucky Derby is good for the economy
The Kentucky Derby is the longest running sports event in American history. Held the first Saturday in May, three-year-old thoroughbreds gather at Churchill Downs in Kentucky to compete over a blistering two minutes that ends with a blanket of roses draped over the winner.
Econ Comments & Analysis
Real Clear Markets | If There Are Bubbles, It's Better to Pop Them
If you go back 20 or 25 years, the term "bubble" was not part of everyday language. To be sure, scholars debated various financial bubbles. Most famous was the stock market bubble of 1929. Before that, there was the South Sea bubble of 1720 in England. And before that, there was the Dutch tulip bubble of the 1630s. But most Americans were blissfully ignorant of these episodes. Hardly anyone imagined bubbles as a modern problem.
Washington Times | So what if China grows?
The World Bank says within a matter of months, China will be the world’s most powerful economic force, greater than the United States. This would be yet another downgrade to U.S. prestige comparable to the recent embarrassment in losing our perfect AAA credit rating.
Forbes | Steve Jobs, Near Capitalist Criminal, Refutes the Decline of Capitalism
The latest evidence of the dark, borderline-criminal side of Steve Jobs is that Jobs tried to rig the Silicon Valley labor market.
Bloomberg View | The Strange Death of Volatility
Ask any trader to list the market conditions most conducive to making money, and you'll hear the word volatility. Swinging prices create profit (as well as loss) opportunities; when prices flat line, the trading seas are becalmed. Volatility, though, is disappearing, in stocks, bonds and currencies.
Blogs
WSJ | New Foreclosures Fall to Lowest Level Since 2006
Amid renewed concern about weak housing demand, there’s this bright spot: the number of mortgage on which lenders initiated foreclosure in March fell to the lowest level in 7½ years, according to a new report.
CATO | Let Export-Import Bank and Corporate Welfare Die
Nothing brings out the well-tailored lobbyists in Washington quite like a threat to corporate welfare. With the Export-Import Bank’s legal authorization set to run out this year, the Chamber of Commerce recently led a Big Business march on Capitol Hill to protect what is known as Boeing’s Bank.
Heritage Foundation | Follow Your Tax Dollars Across This Map to Unfriendly Nations
What’s worse than using taxpayer money for special interests and cronyism? Maybe sending taxpayer money to nations that aren’t the best friends of the United States.
