The Big Story: What's The Fed To Do? The Federal Reserve's Open Market Committee says the economy is expanding moderately. A former chairman of the Federal Deposit Insurance Corporation warns that the Fed is fueling a financial bubble. The Fed chairman, Ben S. Bernanke, and a Times columnist, Paul Krugman, battle it out. Josh Bivens says that the United Kingdom's double-dip recession is proof austerity doesn't work. Henry Blodget says it's official: Keynes was right. Peter Diamond and Emmanuel Saez believe that increasing tax rates is part of a sensible deficit-reduction strategy. Jared Bernstein summarizes the economic impact of raising taxes on high income households. Social Security's projected shortfall date is moved up to 2033. President Obama slow jams the news. The Economy: The Shale Boom Russell Investments updates its state of the economy dashboard. Among accountants, confidence in the global economy improved substantially in early 2012. USA Today reports that some economists are upping their 2012 forecasts. A Wells Fargo strategist says the economy is looking up. So far this quarter, 79 percent of American companies have beaten earnings forecasts. Mark Perry predicts a shale-based economic boom: "low-cost energy provided primarily by shale gas production advances will almost certainly contribute to an investment boom across the U.S. economy." Barry Ritholtz says the economy is where it's supposed to be. But Marc Faber says the fiscal condition of the United States is a "catastrophe." Michael Snyder lists 22 red flags that indicate serious doom. A new study by Manta finds that most small business owners didn't hire a single employee in the first three months of 2012. Jeffrey Rosen asks where the small-business recovery is. The Data: Housing Prices Fall Growth cools (although consumer spending is up). Orders for durable goods fell significantly (pdf) in March. Home prices drop for the sixth straight month, and new home sales fall, too. Capacity tightens as conditions get tougher for shippers. But truck tonnage inches up, as does traffic volume (pdf). Manufacturers" earnings are up. Weekly unemployment claims remain high. Management: Incorporating Fun An entrepreneur finds out what happens when all of his wildest dreams come true. The Economist predicts that the digitization of manufacturing will transform the way goods are made - and change the politics of jobs, too. Ever wonder what happy people have in common? Barbara Corcoran says that incorporating fun into your business is essential: "It is the way to get the best ideas and bring together your employees." Lewis Love says that employing international students will enhance the quality of your staff: "They possess a strong knowledge of their subject area but lack the time and experience required to secure a top-paying full-time position." Kentin Waits says complaining is good. Groupon's chief executive drinks too much beer. This frog thinks he's human. Marketing: Keep It Brief Minda Zetlin tells how one fledgling company signed up 40 Fortune 500 companies as customers. A new study shows that business blogging is in decline as corporations turn to social media. Stanford Smith says there are five content-marketing assets you have forgotten about, such as: "Every business has a marquee customer that is a reliable source of recommendations and referrals. Turn this customer into a celebrity. Don't be surprised if your customer makes your content the centerpiece of their marketing, attracting additional prospects for free. YouTube announces Google AdWords for video. A "webinine" explains how to build an e-mail sign-up form. John Twohig says the "multi-directional expressive capability" model is spooking business and traditional marketers. Here's what your Klout score really means. Jill Konrath explains why she can't catch a taxi - and why you can't sell. Art Sobczak wears an apron and teaches us something about sales. Here are seven card-connected programs that merchants can use to promote loyalty and customer engagement. And here are five ways to create shareable Pinterest pictures for your business. Phillipa Kiripatea offers seven ideas for getting your customers moon-walking back in the door. If you get this customer service agent on the phone, please keep it brief. A father captures his daughter from birth to age 12. Around the Country: A Fracking Boomtown The Harlem Business Alliance is helping small businesses establish a stable foundation. In Oregon and elsewhere furniture manufacturing is on the rise. Michigan's economic activity index is the highest since 2005, and economic optimism increases across Minnesota. The Ohio steel industry, led by a drilling boom in the oil and gas industry and a resuscitated demand for cars and light trucks, is growing again. Mark Ebner writes a fascinating account of life in a North Dakota fracking boomtown. Illinois is swimming in $9 billion of unpaid debt. Fishing guides in Louisiana say their businesses are gasping for air two years after the oil spill. South Dakota is the best state (pdf) for business taxes. The Boston Beer Company expands its "Samuel Adams Brewing the American Dream" program for small businesses. An upcoming forum in Charlotte asks if the size of our businesses really matters for social media success. BlackEnterprise.com and Dell open a small-business university. The Small Business Administration honors 18 small businesses and six individuals. Around the World: Mexicans Leave A mini-revolution is happening for Arab technology businesses. German manufacturing confidence is up. These emerging-market city-dwellers account for more than 60 percent of the world's gross domestic product growth. Small Business Labs reports that the "reshoring" of American companies continues. For the first time since the depression, more Mexicans are leaving the United States than entering. A girl falls through the pavement in China, and a Ukranian girl turns herself into Barbie. Start-Up: Heavy Metals Investors from Google plan to mine asteroids for heavy metals (and a family enjoys Bohemian Rhapsody). Jay-Z releases a Facebook game. Denise Kustka celebrates age by introducing the Cougar Sisterhood. Here are 25 up-and-coming start-up C.E.O.s in New York. Mathew Toren explains what to do when your friends want to be co-founders: "have that difficult discussion about how each of you will proceed before you start up. In many ways starting a business is like getting married, you don't want either to end in divorce. Penelope Trunk explains how to overcome your biggest barrier to starting a business. Carol Tice offers five tips for surviving your start-up's first year, including: "choose your location carefully." Yanik Silver offers seven tips for naming your business, including: "Beware initials. They are so boring. Here are six ways not to start a business. Finance: Hating Obama Crowdsource investors are advised to beware of fraud. Facebook sees a drop in revenue prior to its offering. Hundreds of small banks still can't afford to pay off their Federal bailout loans. Kevin Drum explains why Wall Street "hates" President Obama. Small-business loans are reportedly on the rise. Jay Snider warns not to make these five business plan mistakes, including typos: "They're unprofessional and signal a lack of attention to detail, and when an investor has a stack of plans to read, that could be all he or she needs to see to make the decision to pass your business over." Red Tape Update: Health Insurance The President of the National Federation of Independent Business says that health care and taxes are the top issues for small businesses. A study finds fewer employers are offering health insurance. George Lundberg shares six ways to save a trillion health care dollars. Health care apps soar in popularity. Dan Danner asks why the National Labor Relations Board is targeting small businesses. Research from Sage North America concludes that most small-business owners don't consider their outside accountant a business partner. Owners of roll-your-own tobacco shops fear that a new law will put them out of business. Technology: Going After Dropbox July 9 could be doomsday for your PC or Mac. Here are seven tips for women in the tech industry. Apple's profit rises 94 percent. Philips introduces a 20-year light bulb. Staples introduces a managed print services program to help small-to-medium-size businesses control their print network. Facebook provides details for its Windows phone app. Both Google and Microsoft take on Dropbox. A new survey finds that 72 percent of information workers find their productivity is reduced by having to search for, install, and upgrade software on their PCs. A Mad Men special: USB typewriters for the office. Salesforce.com is seeking a thousand integrators. Facebook announces a good developer seal of approval. Things to consider before buying a business. Dave Thomas lists a few questions, such as, "How would you best describe your customer base? Talk with the current owner and get a snapshot of the customers he or she currently has. Going into a potential sale without knowing who you might be working with is a major mistake. You also will want a measuring stick for the local economy where you will possibly be purchasing a business so that you're not going into a potential disaster scenario, whereby you come out the loser financially. Reasons not to discount. Vanessa Merit Nornberg says, "Discounts proclaim, in a silent but deadly manner, that what you are selling is worse than, or at best equivalent to, the product of your competitor - and customers are smart enough to know it. Relationships are built on the confidence your customers feel in your products, and the assurance they get from buying what they know to be quality. Discounts wipe out these two brand essentials and leave your business in a very risky position in both customers" minds and the marketplace." Today's Questions: How many of you think that doing a daily deal cheapens your brand?