News
Bloomberg | U.S. Consumer Comfort Closes Strongest Quarter Since 2007
Consumer comfort fell last week for the first time in more than a month, ending its best quarter since the last U.S. recession began almost seven years ago on a sour note.
Bloomberg | Trade Gap in U.S. Shrinks More Than Forecast on Record Exports
The trade deficit in the U.S. narrowed more than forecast in May on record exports, signaling a pickup in global growth that will boost American manufacturers.
National Journal | How Cash-Strapped Towns Are Saving Fourth of July Fireworks
In recent years, several towns—small and large—on tight budgets have canceled their fireworks shows for the Fourth of July. But it might not be the smartest way of saving money, especially considering the economic booms the shows create, and the fundraising options out there for these struggling towns.
Bloomberg | Euro-Area PMI Surveys Signal Growth Doubled in Second Quarter
Euro-area manufacturing and services growth point to a strengthening economy in the second quarter, even as activity cooled in June.
WSJ | Retail Rents on Rise as Space at a Premium
Shopping-center owners continued to increase rents in the second quarter as a host of retailers in expansion mode jockeyed for dwindling available space in existing high-quality centers.
Econ Comments & Analysis
WSJ | The Failure of Macroeconomics
Output per capita fell almost 10 percentage points below trend in the 2008 recession. It has since grown at less than 1.5%, and lost more ground relative to trend. Cumulative losses are many trillions of dollars, and growing. And the latest GDP report disappoints again, declining in the first quarter.
CNN Money | Your commute could get even worse
Gridlock on Capitol Hill may yield more gridlock for American commuters who have to navigate congested, pothole-filled roads and highways, rundown rails or bad bridges.
WSJ | The Not-So-Small Business Administration
Last month the Small Business Administration updated the criteria it uses to determine what qualifies as a "small business" for the first time since 2008. The formula varies by industry, sometimes calculated by number of employees, other times by annual revenues or total assets. Thanks to the change, approximately 8,500 more companies (some with more than 1,000 employees) will now be eligible for the designation—and the federal assistance that goes with it.
Market Watch | The Great Obama Bull Market will roar till 2016
Yes, it’s time to celebrate. We’re in a historic bull market. GOP conservatives keep fighting the wrong war, against the Obama economy. Meanwhile, the Obama bull market keeps roaring ahead!. And the long term looks even better: Bullish pundits predict stocks will continue climbing into the 2016 presidential election.
Forbes | We've Crossed The Tipping Point; Most Americans Now Receive Government Benefits
Obamacare has pushed us over the entitlements tipping point. In 2011 some 49.2 percent of U.S. households received benefits from one or more government programs—about 151 million out of an estimated 306.8 million Americans—according to U.S. Census Bureau data released last October.
