The Panic Bloom: The U.S. could well be in the midst of a panic bloom. As noted by Gabor Steingart in 2006—brilliantly foretelling of the global economic crisis to come—right before a plant is about to die, it produces "one last batch of healthy shoots." These, he writes, "can hardly be distinguished from healthy plants." And so it is with the U.S. economic recovery that, some misguided analysts conclude is now fully underway.
Fishing the Free Markets: I found a stretch of river with pools and pockets of easy-flowing water. After 20 minutes, I felt a strike on my line, and a brown trout surfaced in his struggle to free himself from the hook. I nearly had the trout to shore, but with one last thrash he freed himself and slipped back into the river.
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