Is the US Like an Emerging Economy?

There has been some discussion that the US economic crisis closely resembles many of the emerging market crises of recent decades. Simon Johnson makes the argument quite well in this article in The Atlantic. In its depth and suddenness, the U.S. economic and financial crisis is shockingly reminiscent of moments we have recently seen in .. read more

The Tax Tipping Point

In a post yesterday, I said: We are nearing the point where a majority of Americans will not have any federal tax liability and that seems a dangerous situation. What incentive will citizens with no tax liability have to restrain government taxation and spending? In today’s WSJ, Adam Lerrick, asks the same question: What happens .. read more