The most worrisome news of the month, even if you're a Democrat terrified by the prospect of a Republican resurgence, has to be the decision by the Federal Reserve Board to pump 900 billion in new dollars into the economy. I can't write with any authority on the macroeconomic wisdom of the decision to do a second round of "quantitative easing" -- a move nautically dubbed QE2. (The first round came in March 2009.) But whether you think it's a sound or unwise action -- and people I trust are inclined to think it's a disaster -- QE2 is a...