Barack Obama continues to preside over the era of easy money and hard regulation—boom times for financiers but little growth or opportunity for people at the bottom of the economic ladder. The Journal reports today that corporate mergers and acquisitions are now on pace for a record year. Meanwhile on Main Street, the Wendy’s restaurant chain warns of job losses from new minimum-wage laws.

World-wide, announcements of planned corporate takeovers “would reach $4.58 trillion this year if the current pace of activity continues,...