In The Morning News

USA Today: Reports Suggest Economy “Stagnant But Not Collapsing.”
“The Institute for Supply Management’s purchasing managers index that tracks manufacturing rose a point in May to 49.6.” However, the number remains “below 50, indicating a contracting manufacturing sector.” Also, the ISM said that “rising commodity prices could leave manufacturers caught between rising costs and weakening demand.” Still, the report was “slightly better…than economists predicted,” so “few seem to think that” the Fed will lower short-term interest rates.
Forbes: Wharton Professors Emphasize Uncertainty In Oil Prices
Forbes interviewed Wharton School of Business professors Jeremy Siegel and Witold Henisz on the causes of increased oil prices. Siegel says it “would be presumptuous to even theorize about whether we are near the top” of oil prices. Siegel also says he “just did some kind of ‘back of the envelope’ type of calculations and it was pretty sobering.” The price of “oil was occupying 2%, and now it’s gone to 4%” of total GDP,” meaning “this whole process so far would cost a whole year’s productivity gain into the U.S. economy.” Henisz adds, “The other side is the demand uncertainty. How much more will demand in China, India and other countries grow? The other side of the equation is also a lot of unknowns.”
US News And World Report: New Study Turns Understanding Of Intensive Care On Its Head
“If you are very, very sick — so sick you have to be admitted to an intensive care unit, draped with tubes and IVs and catheters and sensors, fluids going in and coming out — what kind of physician should be at your side?” An intensivist, of course.” But if the value of having intensivists on hand is well-researched, most exhaustively in a 2002 JAMA article, then “how to explain an unsettling study, out Tuesday in the Annals of Internal Medicine, that reaches exactly the opposite conclusion?” The conclusions in the new report “might turn out to be flat wrong or right on, but the upside-down results of this study are too important not to follow up. When discussing hospital quality and safety, it is vital to keep asking: What do we know? What, on the other hand, do we only think we know?”