If Obama's oratory was matched with economic wisdom, leavened with a sound knowledge of economic history, America would have nothing to worry about. Unfortunately Obama is a profoundly ignorant man who shares the statist's contempt for economics, an attitude that will have fearful consequences for the US economy. His ideological mindset is exemplified by his supreme indifference to the state of the markets. The Dow had its worst February since 1933 and, as of this writing, stands at 7,062.93. And this happened after he had given the public another oratorical masterpiece, proving that though you can fool a large number...