Saturday, April 14, 2007

Good News For Them Is Good News For Us

A column on Bloomberg today should give fiscal conservatives great hope for the future of the United States.

A discussion of emerging-market bond funds might be a great cure for your insomnia, but while many of us have slept poor nations in the world have been catching up to us quickly.

It is time to wake up.

The jolt will be tough for a lot of us, but as prosperity and achievement spread throughout the world we will have to cut our patience for counterproductive public policies.

In other words, as the economies of the third world get stronger we will be less able to afford liberal economic policies.

Could we be seeing progress already? Look at how quickly this turned into this.