News
National Journal | Small-Business Owners Love What They Do, Despite the Economy
In a new Gallup and Wells Fargo survey released this week, 84 percent of small-business owners say that if they had they could do it all over again they would still start their own business. (Wells Fargo is also a sponsor of National Journal's Next America project.) To the 600 small-business owners who were polled, the independence and decision-making that come with their job are invaluable benefits.
Bloomberg | Gain in U.S. Leading Index Points to Second-Quarter Rebound
The index of U.S. leading indicators rose in April for the fourth straight month, showing the economy will strengthen after a slowdown earlier this year.
CNN Money | Mortgage rates fall - lowest since October
Interest rates have been pushed down as investors, skittish about the economy, have abandoned stocks for U.S. Treasuries, according to Mike Fratantoni, chief economist for the Mortgage Bankers Association.
Bloomberg | Sales of Existing U.S. Homes Rise for First Time This Year
Sales of previously owned U.S. homes increased in April as a bigger supply of properties lured buyers and raised prospects for a stronger spring selling season.
Market Watch | Markit flash manufacturing PMI moves higher in May
U.S. manufacturing picked up to a 3-month high in May, according to the flash purchasing managers index released by Markit on Thursday. The manufacturing PMI rose to 56.2 compared to the 55.4 in April.
Econ Comments & Analysis
Washington Times | The not-so-Great Society turns a rickety 50
President Lyndon B. Johnson announced his Great Society 50 years ago Thursday, and it was another date to live in infamy. The nation is much the worse for it.
Mercatus | Increasing the Effectiveness of the Bureau of Consumer Financial Protection in Protecting Consumers
Testimony Before the Financial Institutions and Consumer Credit Subcommittee of the House Committee on Financial Services
CATO | A Champion of Economic Freedom
It is easy to become discouraged about the U.S. economy: slow economic growth, rising debt, the massive weight of government spending, taxes, and regulation. Few politicians from either party seem willing to take the difficult stands necessary to address the out-of-control growth of government.
Blogs
WSJ | Why Housing Isn’t As Cheap as It Looks
A growing number of economists and policy makers are faulting last summer’s spike in mortgage rates for a broad slowdown in housing activity that began last fall.
Market Watch | Texas dominates ranks of fastest growing cities
The Census Bureau released Thursday data on population growth by cities, and three located near Austin, Texas, were among the fastest growing of cities with populations over 50,000. San Marcos, Cedar Park and Georgetown all were in the top 10, and Austin itself gained more people — 21,000 — of cities with less than 1 million residents.
WSJ | Larry Summers: Student Debt Is Slowing the U.S. Housing Recovery
Former White House adviser Lawrence Summers said Wednesday that student debt is slowing the housing recovery and the broader economic recovery, adding a prominent voice to the debate in Washington over whether Congress should reduce Americans’ student-loan burdens.
Library of Economics | The Great Society at 50
Fifty years ago, Lyndon Johnson gave his famous "Great Society" address at the University of Michigan. In an interesting essay on "The Great Society at 50", AEI's Nicholas Eberstadt presents a very balanced and nuanced account of the "Great Society", that he ultimately deems as a "project that ended up at war with itself".
