What the news means in brief

Look at the Hedge Fund sector at the moment, and the gains are being made by those shorting and bearish re China. Property/income ratios are even madder than in Sydney, but output is falling in real terms if you look specifically at things being made for export. China’s double-whammy problem is the Western recession, plus a home population 96% of whom are still too poor to consume stuff. Prepare for more currency argey-bargey as the situation develops.

Having had an unpleasant phone call from Berlin yesterday, Mario Draghi is back-pedalling again on the eurozone break-up warning. He now says he believes in the currency’s ‘permanence’, but does rather wish the politicians would get a move on and do something. Germany is still in the ascendancy re this one: stand by to see what the Franco-American axis tries next. But last night’s Slogdoom prediction still stands.

The Turkish police have arrested some 40 people, stating that this is part of a crackdown on hardline Kurdish agitators. Well, Recep Erdogan’s transformation of Turkish democracy into Islamist dictatorship continues: almost all of those arrested were journalists, and only 23 have anything at all to do with Kurdish unrest. You read it her first, dear Sloggers. You read it here last, David Cameron.

You get just three (count them) water cannons for £4.3m. The cost of social engineering is high indeed. Word reaches me that sections of MetPlod want a shoot-to-kill policy. The cost of keeping oligarchies in power sometimes goes beyond money.

The EU this morning is still claiming that the EFSF could be boosted to 800m euros. The absolute maximum is 590m euros. Those whom the Gods wish to destroy, they first turn into incorrigible liars.

At long last, the MoD has got round to cutting the top brass…shame the same hasn’t as yet sunk in with senior Plod. But Mr Osborne is still asking Mr Hammond when some of the Sir Humphreys might be bombed. (Score so far: 0 after 15 months). Privilege is ever-present and exemption is a perk of rank. Always has been, always will be.

3,000 NHS doctors are believed to be incompetent. They cause suffering to 140,000 patients a year, which is a laudable level of productivity if nothing else. Would it be unkind to ask for the cultural origin breakdown of these folks? Political correctness and affirmative action promote incompetence, while patronising the culture so advanced.

Lord Fondlebum of Boy has gone on the telly to say Ed needs to cut the jokes back, and say what’s going to replace Blairism. Manglesum wanted Brother David to get the job. Round One of the leadership coup is in progress. If I were you Mandy, I wouldn’t bother: Labour never fires its white elephants.