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On August 5, 1861, facing rapidly deteriorating economic conditions and a horrible defeat at Bull Run, President Abraham Lincoln signed the Revenue Act of 1861 into law. It was the first time in US history that the federal government would charge an income tax on its citizens. But Lincoln felt
April 14, 2015 Santiago, Chile 70 years ago, the United States of America had just emerged from World War II as the most dominant superpower in the world. At that point America’s economy was the only one left standing. And the US government had essentially dictated terms in establishing a
April 13, 2015 Santiago, Chile On March 16, 1936, the government of the United States published the very first edition of the Federal Register. President Roosevelt had been taking a lot of heat over the previous year; under his New Deal program, dozens of government agencies were passing new rules,
April 10, 2015 Panama City, Panama After an incredibly pleasant week in Medellin, I departed this morning for Panama where the capital city’s already notoriously painful traffic has become a parking lot in the wake of the Summit of the Americas. Leaders from most of the Western Hemisphere are here
April 9, 2015 Medellín, Colombia The world has truly gone mad. We’ve become accustomed somewhat in the last several years to historical anomalies such as zero percent interest rates, Quantitative Easing, competitive currency devaluation, etc. by governments and central banks the world over. It’s almost become the new norm. But then
April 8, 2015 Medellín, Colombia About a week ago after having one of those days, I felt like unwinding by turning off the world and tuning in to some mindless action flick. Netflix heeded the call and immediately served up 1994’s Clear and Present Danger starring a slightly younger Harrison
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