Donald Trump is as good as Keynesianism and better than a sovereign wealth fund. Spending £1bn on a Scottish golf course for toffs is an ideal way to offset recession.
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There are two missed opportunities in the UK banking bail-out. Lloyds TSB (LON:LLOY) has failed to review its terms for rescuing HBoS (LON:HBOS) and the government has failed to review its terms for recapitalising both banks.
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Interest rates will fall and inflation will plummet. That’s official: the Bank of England quietly said it while it thought no-one was listening.
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Why should investors – nevermind the government – give the banks new capital when they were so inept at looking after the capital they had?

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Gordon Brown invented the golden rule so he cannot complain that he is being beaten with it. But a smart spin-doctor might still argue it has not been broken despite soaring debt.
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Is capitalism dead? If the world banking system can survive only with state support, what chance the rest of the economy?
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Is the ban on short-selling shares working? No-one can say, so let’s set up an experiment that allows hedge funds to deal in half the stocks while the rest remain protected.
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If the political parties are to argue, then outbidding each other to help small business is more productive than many of their clashes. However, words have to be translated into cash.
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Legal & General is leading the opposition to the ban on state-rescued banks paying dividends – but it was the life and pensions company that started this row of collapsing dominoes.
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A six-month Vat holiday for small firms, nevermind a cut in National Insurance, is not the antidote to recession. It will be impossible to recover the deferred tax.
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