Read it at CNBC NetNet
Obama's New Protectionism
by John Carney | CNBC Senior Editor
John points out that Matt Yglesias takes the president to task for mercantilism, and Greg Mankiw criticizes him from the right for "xenophobic" protectionism.
Nationalism is on the rise across Europe, both in the periphery states tired of being bossed around and the core states tired of being asked to open their pocketbooks. Last night, President Obama joined the chorus that has just begun to sing the praises of "me first" economics.This is just the sort of thing that Christine LeGarde was taking about when she warned of a "30's moment." Been there, done that. Why are we walking, or maybe running, down that path?