I found this blog post (and the comments) from Edward Harrison on Seeking Alpha quite illuminating.  Although I do think the US has already printed too much money–too much debt from the Bush years–and may have to pay severely for it before they can think of printing much more.  Canada seems to be in a bit better shape–the Mulroney years were not quite as exuberant as the Reagan years, and I still think Paul Martin was one of the better finance ministers (thank goodness for those surpluses).