I think most Americans have the sense that we’re stumbling through the fourth year of a financial crisis with a low-growth recovery. What is less appreciated is the way in which America is actually performing the best among almost all nations at this point. We’re mired in a global slowdown, one with knock-on effects for [...]

The way the Eurozone crisis has gone is that a peripheral country will announce a growing budget deficit and debt. The markets, concerned about the risk of default and the lack of economic growth given the foolish solution of austerity imposed on those countries, then gradually raise borrowing costs. This makes it impossible for those [...]