– The Washington Post
George Will believes that the key to fundamental healthcare reform is not repealing or replacing anything — it is simply capping the rate of growth of Medicaid spending. In Medicaid’s life, its expenditures have grown more than twice as fast as nominal (unadjusted for inflation) gross domestic product. Lawrence Lindsey, formerly a governor of the Federal Reserve System and an assistant to both Presidents George Bush, puts the matter plainly: “No large component of the federal budget can perpetually grow faster than nominal GDP.”
– The Oregonian
Amazon’s Prime Day has never just been about the sales. Retail analysts say the Seattle-based retailer created the annual shopping event (this year, the deals kicked off at 6 p.m. Monday and last through Tuesday) primarily to boost the number of Amazon Prime members, who spend more on the site than non-members. It worked.
– The Atlantic
While lots of attention is directed toward identifying the next great start-up, the defining tech-industry story of the last decade has been the rise of Apple and Google. But the greatest collision between Apple and Google is little noticed. The companies have taken completely different approaches to their shareholders and to the future, one willing to accede to the demands of investors and the other keeping power in the hands of founders and executives. These rival approaches are about something much bigger than just two of the most important companies in the world; they embody two alternative models of capitalism, and the one that wins out will shape the future of the economy.
– The Street
Wall Street doesn’t believe President Donald Trump is as tough on trade as he says. Market expectations of major trade policy changes under Trump appear to have completely reversed since the former real estate executive was first elected, according to a weekend note from Goldman Sachs. While equity and currency markets initially priced in substantial increases in tariffs on imports to the U.S., they appear to have now almost written the matter off — so much so that they may now be discounting Trump too much.