Is the U.S. on the Verge of Becoming a Banana Republic?

There’s a fruity phrase on many pundits’ lips these days, and it has nothing to do with high-quality sweaters and slacks. Henry Blodget wants to know if the United States has become a banana republic. Ezra Klein thinks we probably are: “The fact that we wish we were not a banana republic witnessing a full-blown meltdown of our treasured system of governance does not mean we are not, in fact, a banana republic witnessing a full-blown meltdown of our treasured system of governance.” The foreign press agrees, and so does Andrew Sullivan. Neil Irwin isn’t ready to say so yet, but he thinks that minting a $1 trillion platinum coin might do it.

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