Econ 101: August 2, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • Experts believes that an aging U.S. electric grid will make blackouts more common. [Washington Post]
  • Factory activity barely rose last month, falling short of expectations. [Financial Times]
  • European Central Bank President Mario Draghi may announce new moves to support the Eurozone today. [Bloomberg]
  • San Bernadino, California, filed for bankruptcy protection yesterday, making it the third California city to take such a step. [Reuters]
  • Bailed out insurance giant American International Group may pay back the federal government sooner than expected. [Wall Street Journal]
  • International Monetary Fund Managing Director Christine Lagarde emphasized yesterday that the IMF will stand by beleaguered Greece. [CNBC]
  • Nearly half of the counties in the U.S. have been designated natural disaster areas due to an ongoing drought. [Huffington Post]