I'd like to rebut WSJ's latest load of nonsense as succinctly as possible:

BRIMELOW Where does the Wall Street Journal's editorial page campaign for fixed exchange rates fit into this? FRIEDMAN You got me! I think that's just an aberration. My God, how the hell can they stick with that? They've just got an idée fixe about it. Like they've got on immigration. It's just obvious that you can't have free immigration and a welfare state.

[HOOVER DIGEST 1998, Interview by Peter Brimelow:MILTON FRIEDMAN, SOOTHSAYER]