Everyone knows the old adage, added to our political vocabulary by Senator Vandenberg, that "politics stops at the water's edge" -- an admonition, increasingly quaint, that warring American political parties should observe a rhetorical ceasefire when it comes to the rest of the world. Today, it seems as if there's an assumption that "economics ends at the water's edge" -- that the policies Washington pursues, by omission as much as commission, will somehow suspend the laws of supply and demand that function in the global economy.
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