Wednesday, July 30, 2014

General Economics

FOX Business | If the Bulls Stick Around, Stocks Could Rise Another 25%
Stocks may be near record levels but the bull market is not done. Digital technologies permit businesses to use investors’ cash far more efficiently these days, and could easily push up stock prices another 25%.
Bloomberg | Greenspan Says Stocks to See ‘Significant Correction’
Former Federal Reserve Chairman Alan Greenspan said equity markets will see a decline at some point after surging for the past several years.
WSJ | Energy Regulators Say EPA's Climate Rule Poses Grid Challenges
President Barack Obama's proposed rule to curb carbon emissions from the nation's power plants could raise costs and affect reliability in the U.S. electricity system, federal regulators told Congress.

Econ Comments & Analysis                                                                                            
Real Clear Markets | Dodd-Frank's Birthday Marred By Its Many Inadequacies
Financial reform debates rarely dwell long on the purposes financial markets serve. Instead policy debaters move quickly from cursory diagnoses to regulatory remedies. As a consequence, the reforms that these discussions produce often inadvertently impede the proper functioning of the markets. An impaired financial industry can have deep and devastating effects on people far away from Wall Street and Washington.
WSJ | Liberals Love the 'One Percent'
Federal Reserve Chair Janet Yellen has said the central bank's goal is "to help Main Street not Wall Street," and many liberal commentators seem convinced that she is advancing that goal. But talk to anyone on Wall Street. If they are being frank, they'll admit that the Fed's loose monetary policy has been one of the biggest contributors to their returns over the past five years. Unwittingly, it seems, liberals who support the Fed are defending policies that boost the wealth of the wealthy but do nothing to reduce inequality.
Washington Times | An economic era defined by slowdown
President Obama’s job-approval polls slipped precariously closer toward the 30 percent range this week as many more Americans expressed deep dissatisfaction with his failed presidency.
Fortune | Explaining the mystery of fast economic growth under Democratic presidents
If you hang around enough enthusiastic Democrats during election season, you will surely hear these folks trumpet the fact that the economy performs much better during Democratic presidential administrations than Republican ones.
Market Watch | Breadth divergence is a troubling sign for the stock market
The general state of the stock market seems quite healthy, with the Standard & Poor’s 500 Index making new all-time intraday and closing highs on several recent days.
CATO | Dangerously Demagoguing Entitlements
The Democratic Senatorial Campaign Committee is financing an Iowa ad saying that GOP nominee Joni Ernst has “proposed privatizing Social Security [and] gambling our savings in the stock market.”

WSJ | 5 Takeaways from Wednesday’s GDP Report
Economic output rebounded during the second quarter, advancing at a 4% rate, and the large decline during the first quarter was revised down slightly, to a 2.1% decline from a 2.9% drop, according to estimates published by the Commerce Department on Wednesday.
WSJ | Revisions Boost Growth in 2013, But Show Weaker Overall Recovery
The U.S. economy expanded at a stronger pace in the second half of 2013 than previously measured, growing at the fastest rate since 2003, according to revised data released by the Commerce Department on Wednesday.