According to the head of economic affairs at Brazil’s foreign ministry, Carlos Marcio Cozendey, the plan is “to distribute the retaliation broadly in order to maximise pressure.” The “retaliation” he refers to includes trade sections on 100 US goods, ranging from cars to milk powder. The tariffs are in response to cotton producer subsidies the US…Read more…

The pills that I thought were tranquilizers turned out to be vitamins, and although I am on the verge of some kind of mental breakdown because of the mix-up, I feel great! Turning to the old tried and true, I soon learned that I had started too late, and I was not nearly drunk enough to…Read more…

The private sector ruined itself in the bubble of ’03-’07. Now, it’s the public sector’s turn. All over the developed world – with a few exceptions – the feds are adding debt at an alarming rate. The US has already passed “the point of no return,” says a report from Casey Research. Ken Rogoff and Carmen…Read more…