Going positive.

Photographer: SAUL LOEB/AFP/Getty Images

And Now, on to the General Election ...

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Hillary Clinton's Sprawling, Historic Speech

The Democratic National Convention came to a buoyant close Thursday night, with nominee Hillary Clinton declaring herself ready for the presidency (and mocking her opponent's emotional Twitter tendencies). A not-terribly-impressed Jonathan Bernstein says Clinton closed out a first-rate convention with second-rate oratory, but the Bloomberg View editorial board says her optimistic appeal to voters was a welcome contrast to Trump's dark vision. Meanwhile, Albert Hunt consults with political pros on both sides of the aisle who agree: Clinton's acceptance speech strengthened her position and weakened her opponent's. 

Answering the Hardest Question in Economics

After years of pounding their heads against their desks, economists are finally starting to understand why zero interest rates can spur inflation some times and other times send it lower. Noah Smith points to one new paper that could signal a sea change in the way macroeconomic theory gets done.

The Democrats' Misguided Plan to Reform the Fed System

Barring bankers from the boards of the 12 regional Fed institutions would overturn more than 100 years of sober precedent, and a new plank in the Democratic platform calls for doing just that. Stephen Mihm warns that it could have dire consequences. 

How Donald Trump Changed My Mind About Gold

Joe Weisenthal has been called a gold hater, and he still doesn't think it makes sense as the basis of a modern currency. But the ostentatious Republican candidate has shown him a better way to think about gold: not as a symbol of wealth, but of power.  

One Nation, Fueled by Natural Gas

The clean-burning energy source has overtaken coal as the main source of electrical power in the U.S., thanks to cheap prices and tougher pollution rules. Justin Fox considers what America's ever-increasing dependence on natural gas means for the environment and the economy.

Ritholtz's Reads

  • Moody's: Active fund managers face more pain (FT)
  • U.S. manufacturing is thriving (Strategy + Business)
  • Why economists are better than markets at telling you how the economy is doing (Bloomberg)

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

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