Commentary on our interesting times, different economies in one, thoughts on simplifying the US tax code, background to a lousy market, Macbeth banned in Thailand, are politics polarising again, and what the government has to do in Canada to restore some faith in itself.

Much to fret about.

Financial Sense – I’m Worried
In my view, our American political system is failing us. In my view, we are joining the list of declining world powers. The framework to support that argument follows.

David Brooks on the globalised and public economies.

New York Times – The Two Economies
The creative dynamism of American business is astounding and a little terrifying.

Related.

Pdf below -- Canada's Four Economies

First, let’s kill all the tax accountants.

New York Times -- How to Really Simplify the Tax Code
This week millions of Americans will be rushing to calculate and file their income taxes — and probably cursing whoever invented this confusing, complicated monstrosity.

Why David Rosenberg frets about equities.

Charlie Fell – Market Roadblocks
First, there is liquidity — this major catalyst for equities since last October looks set to subside with the Fed seemingly backing off from a QE expansion, at least over the near-term.

No playing around with King imagery in Thailand.

Asia Sentinel -- Macbeth Too Much for Thailand
Authorities ban film based on Shakespearean tragedy about a king’s murder.

A warning about political polarisation.

Global Affairs -- The Age of Authoritarian Democracy
We must find ways to prevent the political polarization that gave rise to totalitarian systems – communist and fascist – in the twentieth century.

Restoring faith.

National Post -- Pax Americana alliance at heart of Harper government’s F-35 posture
The Prime Minister’s Office probably did not set off streamers when it learned a letter from Laurie Hawn, the former parliamentary secretary to the Defence Minister, on the F-35 fighter jets had been made public.