Policy: Economy  A left turn in emerging markets endangers
investment paradigm  By | Opinion,Lawrence
Kudlow,Columnists,Economy,India,Brazil,Turkey,Argentina  There's
a new cynical perception among international investors that
Brazil is becoming Argentina, and Argentina is becoming
Venezuela. But these investors are starting to boycott all the
so-called emerging markets, since nearly all of them are moving
to the left, abandoning free-market principles, reverting to the
bad old days of higher spending and taxing, inflating the money
supply, accumulating large trade deficits and letting their
currencies go to hell in a hand basket.  In other words, the
emerging-market investment paradigm, or the BRIC model, may be
over.  Toward the end of last week, the U.S. stock market sold
off nearly 500 points. Much of the blame has been placed on the
collapse of the emerging-market currencies. Correct. The
emerging-market tail was wagging the U.S. stock market dog.  We
all know the Fed is playing a role in this as it tape