ricardian ambivalence

the end of the beginning…

protectionism is on the creep. The US has a bill to increase the costs of chinese goods, making the lot of their broke consumers worse; China retaliates by raising the price of chicken (~36m live on less than USD$2 per day).

Un-New Labour & the tea party

UK Labour booked a long date with opposition last night; the union movement pressed red-ed Miliband – the son of Marxist Ralph Miliband – to the leadership of their party. There is a risk that the various nationalistic-populist movements will mutate into a Smoot-Hawley policy error.

My conjecture is that the various movements reveal a little about the soul of their nations. The US tea party movement is unique — it is a small governement individual freedom movement. These core values are the key to US exceptionalism, and the reason I think the USA will fully recover from the financial crisis.