A day long remembered

As Darth Vader says in Star Wars, "this will be a day long remembered". Most likely, anyway.

It's seen:

• the partial nationalisation of most of the UK banking sector (of the big banks, only Barclays and HSBC have escaped - at least for now). Looks like I was right when I suggested this a few days back.
  
• Paul Krugman awarded the Nobel prize for economics. Good choice.

Gordon Brown now has some pretty solid ammunition to use when painting himself as the saviour of the British economy in these trying times - a Nobel prize winner in economics says the British plan is a good 'un. Those props to Brown just get bigger and bigger every day.

Of course, the whole caboodle now hinges on whether the economy can now resume some semblance of 'normality'. Well the Dow Jones has gone back up, but of course you should never place much importance on any single day's trading - come back in six months and see what the indices look like then. The main issue is how severe the oncoming recession turns out to be. If it's just a severe recession - the politicians done well. If it's a severe slump - you can kick their asses.