FREE ECONOMIC ADVICE FOR THE OBAMA ADMINISTRATION: We’ve already seen that the mere expectation of possible new gun regulations has produced an amazing post-election boom in gun sales. And the current problem, as in all deflation-threats, is that people won’t spend money when they get it, hoarding it instead against the threat of future bad times. But there’s an answer: Give ’em a reason to spend now rather than later.

Now that the Obama economic team is together, they should announce plans for a national sales tax next year, encouraging people to buy like crazy now. Then, in a few months, announce that the tax is being “postponed” until a few months after that. This should produce a second wave of shopping. Then announce that the tax has been delayed indefinitely, but spread rumors of looming hyperinflation, encouraging people to stock up one more time. . . . .

By the time this wears through, we should be out of the woods! It’s practically guaranteed to work . . . .