  We develop an effective low energy theory of the Quantum Hall (QH) Smectic or
stripe phase of a two-dimensional electron gas in a large magnetic field in
terms of its Goldstone modes and of the charge fluctuations on each stripe.
This liquid crystal phase corresponds to a fixed point which is explicitly
demonstrated to be stable against quantum fluctuations at long wavelengths.
This fixed point theory also allows an unambiguous reconstruction of the
electron operator. We find that quantum fluctuations are so severe that the
electron Green function decays faster than any power-law, although slower than
exponentially, and that consequently there is a deep pseudo-gap in the
quasiparticle spectrum. We discuss, but do not resolve the stability of the
quantum Hall smectic to crystallization. Finally, the role of Coulomb
interactions and the low temperature thermodynamics of the QH smectic state are
analyzed.
