II: Is Obama planning to print more money?

More rumors. This is apparently the hottest rumor circulating around DC. Ed at Hot Air reads Kudlow who reads the White House as in panic mode. It's tough to decipher if it's panic mode, sheer stupidity, or deliberate sabotage.

This explains James Pethokoukis’ warning about the rumored write-off at Fannie for underwater mortgages.  That will either drop a bomb on Wall Street or on the national debt, which has already hit the crisis stage.  Kudlow hears the same rumors (although it’s not clear whether he heard them from Pethokoukis’ column), and more.  The Fed will extend its lax monetary policy even further at its meeting this month and may announce further expansion of the money supply, a move that will further depress an already sinking dollar.  It’s a kitchen-sink, flailing approach to command-economy policies that clearly have failed to produce a real recovery and instead have delivered exactly what the same kind of approach delivered the last time it was tried in the 1970s: stagnation.