Threat from Within Dissing both the dollar and U.S. foreign policy was very popular this week. It started of course with French President Emmanuel Macron doing so in China on behalf of Xi Jinping, and then ended with Brazil’s Lula da Silva channeling his inner Macron with a similar message and audience. This was less an issue in Washington than in Europe where others in leadership recognized the problem of asserting ideological equivalence between China and the U.S. Espousing the desire to be an independent third superpower and executing its components are two very different things.  Europe has three times the people and ten times the manufacturing capacity as Russia, yet it depends on the U.S. for most of its defense. Washingt...

TAGS – North America, Macroeconomics