• Ford also didn't flinch when the Federal Reserve's anti-inflation tightening plunged the U.S. into its worst economic downturn since the 1930s. (Sadly, the gains against inflation--the rate had fallen almost three-fourths by the time Ford left office--were lost, and then some, under President Jimmy Carter.) And, unlike the current White House occupant, President Ford readily used his veto pen on excessive spending bills and other legislation he thought harmful.

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  • For the U.K., deep into belt-tightening austerity, the 2012 figures are 6.9%, 8.2%, and 15.1%.

    FORBES: IMF Raises Alarms over Japan's Dangerous Fiscal Course

  • While other U.S. pharmacies struggle with tightening payments from Washington, cash-strapped states and penny-pinching insurance companies, Wasson, 53, and Pessina, 71, hope to sidestep an era of growing government controls to capitalize on emerging markets with fattening pocketbooks, countries looking to access safe and effective medicines.

    FORBES: Earth's Drugstore: Walgreen Hedges Obamacare With Global Boots Alliance

  • The latest statement from the Federal Open Market Committee of the U.S. Federal Reserve, was just a bit more hawkish on U.S. monetary policy, hinting that some pre-emptive monetary policy tightening could occur, or at least reduced accommodative Fed actions, in the next year and-a-half.

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  • Furthermore, the prospects of substantial fiscal restraint in the U.S. to curb the federal deficit is reminiscent of tightening actions in Japan in the mid- 1990s.

    FORBES: Is The U.S. Economy Turning Japanese? Gary Shilling's View

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