Photographer: Udit Kulshrestha

The Global Economy Isn't Broken

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The Great News on Global Poverty

Inequality may be on the rise in the West, but the opposite is happening on a global scale. Noah Smith reports that worldwide income disparities are narrowing as hundreds of millions join the middle class.

Netanyahu Loses His Allies But Keeps His Grip on Power

Israel's leader has quashed his proteges, so who's ready to replace him? Eli Lake says the long-serving, increasingly unpopular Benjamin Netanyahu benefits from a political vacuum.  

Don't Believe the Fed's Stress Tests 

The Federal Reserve is set to release its analysis of whether the largest U.S. banks could withstand a major crisis, but Mark Whitehouse says the stress tests don't accurately quantify the risk. Instead, he points to a simple model suggesting the top six banks would come up $350 billion short.

Invoking Racial Justice at the Supreme Court

In a searing dissent on Monday, Justice Sonia Sotomayor cited Ta-Nehisi Coates, Michelle Alexander, James Baldwin and W.E.B. DuBois while condemning stop-and-search police tactics that create "second-class citizens." Noah Feldman calls her opinion remarkably well-attuned to the current moment in racial justice. 

The 'Dump Trump' Movement Is Getting Kind of Weird

With the Republican National Convention less than a month away, some GOP strategists are getting nervous. Albert R. Hunt details their latest wacky scheme to put distance between endangered congressional candidates and the man on the top of the ticket.

Ritholtz's Reads

  • The invisible forces behind all our decision-making (Longreads)
  • Are negative rates a "calamitous misadventure"? ECB economists say no (Brookings)
  • Invert, always invert: Will stocks diversify bond investments in the future? (Alpha Architect)

(Read Barry Ritholtz's full daily news roundup.)

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