Calling It What It Is...

I quite like what Prof Paul Krugman is saying in his blog today:


Britain embarked on austerity even though there was no hint that bond markets were actually worried about its solvency. American politicians are saying that we have to cut now now now or become Greece, even though interest rates on US debt are at near-record lows. As I’ve written repeatedly, we’re running scared of invisible bond vigilantes.


The point is that policy makers aren’t responding to what financial markets demand — they’re responding to what they believe, thanks to some mystical source of knowledge to which I’m not privy, markets will demand one of these days.

And with only 30-odd percent of the national vote, just one seat in Scotland these mystic-worshipping people are on a mission to re-create the world of Dickens, not on the stage but in every town and city in the UK.
 
Tragic doesn't quite describe it.