By Laura Conaway
Welcome to a gorgeous summer Friday (in New York, at least). Here's what has caught my eye:
Ford seems to be drawing a diagram of Keynesian economics at work. Ford says it will build 18 percent more cars and trucks this quarter to meet demand created by the government's now $3 billion Cash for Clunkers program.
Japan is stuck in neutral, the Economist says, in a great look at what's wrong with one of the world's more important economies. I'll drop a chart of scary Japanese wages after the jump.
Foreclosures are up in Illinois, and this time they're coming for the rich folks. Calculated Risk wonders what the fix might be.
For those who need to catch up on the Colonial Bank debacle, which could become the most expensive FDIC takeover of the year, check out Floyd Norris' column in the New York Times. Norris notes that Colonial met government standards for being "well capitalized" in March. "How could a bank be well capitalized and facing government orders to find more capital?" he asks.
Finally, if this whole health care debate is getting you down, check in with Baseline Scenario. James Kwak unloads about the opposition from American seniors to government care, which they've had since the 1960s. "But hey, it's a democracy, and people don't have to wish for others the benefits they themselves enjoy," he writes.
A little more detail here.
categories: Morning Report