Ryan Budget Plan Sounds Good But Lacks Substance

The addition of Paul Ryan to the Republican ticket for the 2012 presidential election has been hailed by many as a welcome turn in the campaign away from vacuous mudslinging and toward a more substantive debate about pressing issues. Both Democrats and Republicans appear to welcome that debate, at least now. In that sense, Ryan’s nod for vice president is unequivocally a positive and does in fact inject what has been a curiously hollow campaign with a dose of real substance.

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Wall Street’s Irrational Negative Reaction to Apple’s Earnings Report

A large multinational company announces that its business has grown significantly from a year earlier, that its earnings are up more than 20 percent and its sales up nearly 25 percent. Its products continued to see strong demand around the world, with the only negative being that some people apparently held off buying because they wanted to wait for the newest version.

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Yahoo Aims to Achieve Turnaround Dream With Hire of Marissa Mayer

In the past year, several tech companies that once seem inviolable have fractured badly—Research in Motion and Nokia most notably. Yahoo, which yesterday announced a surprising and energetic choice of Marissa Mayer as its new CEO, is not in such dire straits, but only just. Its revenues have been on a multiyear secular decline, occasionally flowing, mostly ebbing; it lost the battle with Google as a search engine; and its content, while stellar, may be unable to support its current structure and identity. Mayer is a bold hire, and visions of another turnaround, that of Apple in the late 1990s, must surely be a dream. The question will be whether that dream has any chance of becoming real.

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The Fed’s Forthright Admission About Our Messy Economic Situation

The Federal Reserve concluded its June meeting today with a statement and a Ben Bernanke press conference. A variety of measures were announced, including an extension of an arcane but consequential policy of buying hundreds of billions of dollars of Treasury bonds ($267 billion to be exact) in order to keep interest rates low, on top of the $400 billion the Fed has already purchased since last September.

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