HiSpeed

Allan Meltzer in today's WSJ: "History gives many examples of countries with high actual and expected money growth, unsustainable budget deficits, and a currency expected to depreciate. Unless these countries made massive policy changes, they ended in crisis. We will escape only if we act forcefully and soon."

Obamanomics seems to embrace protectionism and higher taxes-both major causes of the 1930s great depression