The humiliation of a once great American economy

News Snapshot:

Open this photo in gallery: An attendee wearing a Make America Great Again hat lowers his head on the inauguration day of Donald Trump's second presidential term in Washington, on Jan. 20.Amanda Perobelli/Reuters John Rapley is a contributing columnist for The Globe and Mail. He is an author and academic whose books include Why Empires Fall and Twilight of the Money Gods. Monday’s sharp selloff on the New York Stock Exchange revealed just what traders think of U.S. President Donald Trump’s plans to impose tariffs on Canada and Mexico. Meanwhile the rally in government bonds suggests investors are rushing for...