Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess though one likely consequence is an onslaught of inflation.

All political thinking for years past has been vitiated in the same way. People can foresee the future only when it coincides with their own wishes and the most grossly obvious facts can be ignored when they are unwelcome.