The Frankfurt stock exchange on Thursday during which the German benchmark Dax tumbled 2% before recovering. Photograph: Xinhua News Agency/Rex Features
Who do you want to believe, the cautious optimists who think the current rout in financial markets, especially stock markets, is just the sort of “correction” that happens in the middle of any recovery and that the US, at least, is in decent economic shape? Or the doom-merchants who think we...