Pethokoukis: America’s Banana Republic Economy
James Pethokoukis (Reuters) cites two examples of why America is well down the road of a banana republic economy. Our record debt levels and deficits, combined the fiscal fantasy land the White House and Congress work and live in are writ large in both examples. First, the White House announces a $250 payment to every senior for inflation that didn’t exist. “In effect, a COLA | Read More »
England’s credit crisis: different players, same result.
A bit of an antidote to certain, ah, reflexive ways of thinking: Bad Times Visit Our Betters in Europe LONDON — Think that credit collapse that triggered the Bush administration’s $700 billion bank bailout was necessary because of Republican hostility to regulation and the ineptness of President George W. Bush? If it were that simple, then British Prime Minister Gordon Brown and his Labor Party | Read More »