Have never disagreed with Krauthammer more.
Obama is toast.
The Challenge is to avoid an outright depression.
Almost no one believes BHO is, or will be in 2012, the right person for the job.

Fed’s volte face sends the dollar tumbling

“The Fed is throwing in the towel,” said Gabriel Stein, of Lombard Street Research. “They are preparing to start QE again. This was predictable because the M3 broad money supply has been contracting for months.”
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Tim Congdon from International Monetary Research said the US authorities have botched policy response. “They are forcing banks to contract lending by raising their capital asset ratios. They have let M3 shrink by 1pc a month, as in the early 1930s.