Far and away the biggest story of the week just passed didn’t get much coverage but its repercussions will be felt for years, if not decades, to come. At this point we don’t know exactly what they are and how bad they will be.
I learned to drive in my native Western New York which certainly entailed driving on ice. There is no foolproof way to drive on ice. It is much different from and much more difficult than driving in snow. That said there is a technique that will enhance your chances of avoiding a serious mishap. Basically, you pump, not slam, the brakes and certainly never accelerate when you start a skid. To a degree something similar can be said about economic policy. Unfortunately, the powers to be in both America and the UK didn’t seem to learn that lesson.