Needed: A New Economic Paradigm (FT)
Roosevelt Institute Senior Fellow Joseph Stiglitz argues that mainstream economic models have failed miserably and encouraged bad policy choices.
Jobless Claims Jump to Nine-Month High (WaPo)
That screeching sound you hear may be the wheels coming off the recovery, as half a million new unemployment claims were filed last week.
Foreclosures Grind On (NYTimes)
If you're looking for good news, don't look to the housing sector. July marked 17 months in a row of more than 300,000 foreclosure filings, and the Obama administration still hasn't offered an effective remedy.
Appeasing the Bond Gods (NYTimes)
Paul Krugman argues that the deficit hawks are beginning to look more like a death cult than a group of serious market analysts and policymakers.
The Deal (MoJo)
Kevin Drum explains that the Social Security trust fund is a loan that the rich are desperately trying to avoid having to pay back.
Is Obama FDR or Hoover? Or neither? (WaPo)
Ezra Klein contends that while the economy and presidential destiny are intertwined, Obama's circumstances are very different from those of his Depression-era predecessors.
Populism is Not Enough (TNR)
Michael Kazin counters the claim that Obama's decline is the result of a lack of populist fervor and argues that his real mistake was failing to articulate an alternative to conservative ideology.
President Obama's winning streak (WaPo)
Eugene Robinson notes that despite the flack the president has taken from the left and the right, he has an impressive number of achievements under his belt after only a year and a half in office.
Presidential Decisions (A plain blog about politics)
Jonathan Bernstein writes that in selecting his nominee to head the CFPB, President Obama has much more to consider than whether he thinks Elizabeth Warren is the best person for the job.
Five Washington Excuses for Ignoring the Jobs Crisis (HuffPo)
Les Leopold debunks a few of the most common arguments Democrats and Republicans make to justify their inaction on unemployment.
New Bank Capital Rules Will Eventually Foster Growth, Studies Assert (NYTimes)
Research indicates that new international capital requirements for banks will exert a much smaller initial drag on the economy than industry lobbyists predicted and will ultimately create growth by preventing future crises.
Buyout Firms in 'Grassroots' Lobbying Effort to Preserve Tax Loophole (HuffPo)
Private equity firms are pushing back hard on proposals for a tax on carried interest, but their arguments appear flimsy at best.
Regulators Who Looks Like America (American Prospect)
Devin Ferguson evaluates a provision in the Dodd-Frank bill intended to foster diversity among financial regulators and curb predatory practices.
US Chamber: Equal Pay “a Fetish for Money,” Women Should “Choose the Right Partner at Home” (FDL)
The Chamber of Commerce's communications director appears to be a time traveler from the distant past, confused by the demanding, non-barefoot nature of the modern female.
Truth and rhetoric in job creation (Reuters)
Felix Salmon rebuts the oil industry's claim that a tax on the top five oil companies would destroy more jobs than it could create.
Oil Plume Is Not Breaking Down Fast, Study Says (NYTimes)
The massive underwater oil plume left behind in the Gulf is likely to stick around for months or years to come, but its environmental effects are not yet known.
Senate bill would make energy-efficient mortgages mainstream (Grist)
The SAVE Act would require lenders to take energy costs into account when assessing a residential home's affordability, rewarding those who seek more environmentally friendly accommodations.
Anatomy of a Fail: Rise and Fall of the Tea Party Exchange (TPM)
An attempt to create a group discount card for Tea Party-friendly businesses in Ohio hit a slight snag when Ohioans turned out to loathe everyone involved.