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Lies, Damned Lies, and Greek Statistics

A detailed account of the long and tortured history of budget fakery in Greece and how it is has been aggressively defended by successive Greek governments. A tidbit from the post: one section is labeled "When revising wrong statistics is treason."

Wolf Richter: Housing Bubble Means American Dream Withers at Record Pace

Despite the current housing “buying panic,” the soaring prices, and all the hoopla round them, there is a fly in the ointment: overall homeownership is plunging.

John Helmer: Tulip Sanctions – Russia Busts the Dutch Flower Trust, Almost

The Dutch flower market is a monopolist under assault. A case study of an economic and political struggle.

'Dentists and Skin in the Game'

Paul Krugman: Dentists and Skin in the Game: Wonkblog has a post inspired by the dentist who paid a lot of money to shoot Cecil the lion, asking why he — and dentists in general — make so much money....

Higher-Than-Expected Second Quarter Growth

Dean Baker: Consumption Spending and Net Exports Spur Higher-Than-Expected Second Quarter Growth: Downward GDP revisions show economy falling further behind potential output from 2011–2014. The Commerce Department reported the economy grew at a 2.3 percent annual rate in the second...

Are Americans passing up a chance at the best jobs?

The shale boom might be increasing drop-out rates in some parts of America

Senator Harry Reid on Twitter: "Been carrying this in my wallet a long time. It shows you how long Republicans have been wrong about health care."

Live from Bullwinkle PlazaHarry Reid: [On Twitter: "Been carrying this in my wallet a long time..."]( Been carrying this in my wallet a long time. It shows you how long Republicans have been wrong about health care.— Senator Harry Reid (@SenatorReid) July 30, 2015

Liveblogging World War I: July 30, 1915: Battle of Hooge [Battle of Hooge]( >In Flanders, Belgium, on July 30, 1915, the Germans put their new weapon, the flammenwerfer, or flamethrower, to devastating use against the Allies at the Battle of Hooge. Show More Summary

US cities and productivity in the railroad era

There is increasing evidence that cities offer externalities that raise labour productivity. This column looks at the contribution of US cities to productivity growth at the turn of last century. The findings show that increased specialisation, promoted by improved transportation, was the key to productivity growth. Today’s policymakers should heed this lesson.

Primordial risk factors for HIV spread in Africa

HIV/AIDS is an endemic economic problem for significant parts of Africa. This column presents evidence suggesting that the demographic shock induced by the slave trade still shapes the contemporary family structures and sexual behaviour of many African countries. Show More Summary

Police State "Ministry of Truth" Hits Spain; Man Fined for Calling Police "Slackers" on Facebook

On July 1, the Spanish Government went to "Full Police State", with enactment of law forbidding dissent and unauthorized photos of law enforcement. Spain's officially a police state now. On July 1st, its much-protested "gag" law went into effect, instantly making criminals of those protesting the new law. Show More Summary

Rangebound Frictionless Market Leads To Abnormal Cycle Screen Performance

Cycle screening measures strengthened on Wednesday at a clip consistent with the gain in the market averages. The fact that there was no positive divergence in the aggregate measure before the rally started raised a sustainability question. These instances are relatively rare, and virtually always result in a retest of the low, a lower low,…

Continuing Education... Eric Hanushek on Education, Skills, and the Millenium Development Goals, by Amy Willis

If a nation sends all its children to school, can it count on greater economic growth? Does putting bottoms in seats generate human capital? This week, Russ welcomed back the Hoover Institution's Eric Hanushek. What did you think ofShow More Summary

Thursday: Q2 GDP and Revisions, Unemployment Claims

The GDP revisions will be especially important this year.Excerpts from a research piece by Michelle Meyer at Merrill Lynch: The moment of truth• The annual revision to GDP growth on July 30th will adjust estimates of growth over the past few years. Show More Summary

?Whole Foods earnings leave investors famished

The stock got hit hard after the grocery chain reported revenues and profits that both fell short of expectations

?Facebook posts strong growth, but not enough

It beat Wall Street expectations for profits and new users, but investors are selling on the news

How Many Salaried Workers in Your State Would Gain Overtime Protections under the New Proposed Threshold?

Under the Fair Labor Standards Act (FLSA), employers are required to pay covered workers 1.5 times their regular rate of pay for each hour of work per week beyond 40 hours.

Mark Ames of Pando Interviews Your Humble Blogger on Greece

I hope you'll enjoy this interview with Mark Ames: Naked Capitalism: "We are in the business of making trouble."

Fed Watch: FOMC Recap

Tim Duy: FOMC Recap, by Tim Duy: The July FOMC meeting yielded the widely expected outcome of no policy change. Very little change in the statement either - pulling out any useful information is about as easy as reading tea...

What Is 'Price Theory'?

Glen Weyl at Marginal Revolution: What Is “Price Theory”?:... I have an unusual relationship to “price theory”. As far as I know I am the only economist under 40, with the possible exception of my students, who openly identifies...

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