The news used to be full of sugar. Sweet and comforting. Today it is full of salt.
Take Obama. We loved his frothy style. Sugar was the order of the day. Now he is a cup of liquidized chillies. He is being berated for wanting to extend his credit card limit. Ronald Reagan used to uplift his every year so why can't he?. (cnn)
Growth and debt are closely correlated. Polititians like growth because it protects their jobs. Debt can be paid off by future generations. Polititians are short termist. Except in China. Like BP they plan years ahead. Years. Generations.
Not that Ronnie Regan was a long termist. He presided over some decent inflation and the massive growth of the Financial sector. He did us all well. Unlike Obama. He is the the wrong man in the wrong time. He would have enjoyed the 1980s.
China starts WW3 just to spite the Americans (cnn)
Goldman intern bored shitless (hitc)
UK: the sick man of Europe (but not that sick) (daily mail)
Obama sells his kidneys to get the ceiling lifted.