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THE LATEST FROM PPI

Will Marshall details in The American Interest the lack of serious foreign policy in Mitt Romney’s trip abroad. After a series of gaffes it was clear Romney was ready to get back to his economic comfort zone, and Marshall is confident Obama will go after this weakness in October. [http://bit.ly/MfDjyk]

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Diana Carew writes that today's jobs numbers confirm what is really holding back growth and job creation: a dearth in investment. Thus, the policies aimed at stimulating consumer demand will not have the intended effect. The recent annual GDP revisions show investment remains below pre-recessionary levels while consumer spending is doing just fine. [http://bit.ly/RiwUJr]

Last week, Carew created a new economic indicator—the American Idol Index. Using American Idol audition turn out to determine the feelings of America’s youth towards the job market, Carew found that young people are feeling more optimistic about their job prospects. [http://bit.ly/LLpigu]

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Ed Kilgore kept tabs on the state of the presidential campaigns in his weekly Election Watch. This time, Romney took his talents over seas and the negative ads continued to grace televisions in battleground states. [http://bit.ly/OsTkmi

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Jason Gold argues against Edward DeMarco and the FHFA’s resilient opposition to principal reduction for underwater homeowners. And this week, U.S. Treasury Secretary Tim Geithner joined the calls for such a plan. [http://bit.ly/NWBuJE]  

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PPI’s Chief Economic Strategist Michael Mandel writes this week on the err of Bill Gross’ assertion that the historical average of 6.6% growth in the stock market will never be seen again. Gross, Mandel argues, fails to consider the impact innovation has on the stock market. [http://bit.ly/QyeIfM]

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Former Fannie Mae Vice President Richard Morris continued to call for principal reduction that the FHFA has refused to budge on thus far, this time arguing with the Washington Posts’ recent foray into the debate. Morris believes, like Jason Gold, that the FHFA is overly concerned with moral hazard and should move forward with a plan to allow help underwater homeowners. [http://bit.ly/RoBd1x

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PPI’s Investment Heroes report was picked up yet again, last week over at the Huffington Post and then this week the Wall Street Journal gave its take on the piece.



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