Cronyism Banana Republicans

If the US were a banana republic, the recent news from Washington would inspire flight capital. Crony capitalism seems rife, while government spending is out of control. But investors are unruffled. Of course, the US is the world’s largest economy and has had a democratic government for more than two centuries. It’s not like Indonesia under President Suharto. Still, the markets should be more worried about weak financial practices. This is a matter of both quantity and quality. The number is t...