So, after a week of superb pantomime, the debt ceiling has been raised (I am making a brave assumption that the vote tonight in the US will go the right way - if it doesn't then can one of you turn the lights out?) and the world has not come to an end…yet. Pantomimes usually end on a high note, unlike Greek tragedies, but we all know they are just a "bit of theatre".

The cunning plan is to reduce the deficit by $2.5 trillion over 10 years and at the same time raise the debt ceiling by the same amount which apparently will keep the US government in spending vouchers only up until 2013. How does this help?

David Fuller's view You may be interested in Clive Hale's comments on the Supply Management (ISM) PMI Index, with which I agree.