Global economy running on fumes: let's have a jolly nice war

Sterling has taken a post-Brexit pounding and may even fall below parity with the dollar. The US economy is at the top of a bull run and running on fumes. The Euro is sliding and the European Union may disintegrate. Deutsche Bank may fail (it's much, MUCH bigger than Lehman Bros) and could be the trigger for another economic meltdown ... only without the safety next of a wealthy China growing at full throttle. China has the best potential to thrive but has a ticking time-bomb credit bubble of 250 per cent of GDP.

How to get out of this mess?

Apropos of nothing, shares of Raytheon and British Aerospace, purveyors of death machines, are doing rather well, thank you, with brokers urging BUY BAE Systems. Wonder why that could be.

Perhaps what capitalism needs is a nice world war to clear debt, make fortunes and reset us all to the stone age. Hey, let's stir it up in Syria, ignore the tyrants in Saudi and the Stans, and go and live in a deep mineshaft somewhere in survivalist country.

Here's Dr Strangelove ...