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Financial MarketsGlobal Economy
The United States currency has only really weakened relative to the yen and the euro, but that depends on optimistic expectations of a European and Japanese economic recovery.
Booms and BustsInflationFinancial Markets
Liquidity only disguises risk; it does not resolve solvency issues driven by collapsing cash flows while costs remain elevated.
Booms and BustsCronyism and CorporatismMoney and Banks
Europe's path to long-term stagnation should serve as a reminder for the United States, again, of why it is not advisable to follow the eurozone policies. The results are invariably disastrous.
Global EconomyTaxes and Spending
President López Obrador of Mexico has surprisingly been a voice of fiscal sanity, refusing to embrace the sorts of enormous stimulus packages that are now so popular worldwide.
Global EconomyLabor and Wages
So far, the United States is leading Europe in employment improvement, but the full recovery is extremely far away.
Debt and recession in the United States are big problems. But in both cases, metrics show a better situation in the US than in the eurozone.
Taxes and SpendingU.S. Economy
Debt matters, even if interest rates are low. Increasing debt and spending means lower growth and weaker real wages in the future.
Big GovernmentGlobal EconomyTaxes and Spending
Debt is neither free nor irrelevant, as interventionists want us to believe, even if interest rates are low. More debt means less growth and a slower exit from the crisis, with lower productivity growth and a tepid employment improvement.