It's so unfair!

Never has the behaviour of the global markets looked more like that of Harry Enfield's spolied teenager Kevin. (Here's a link if you don’t know what I'm on about) So I would just like to take a moment to applaud the European Central Bank and the Bank of England for not going the way of the US Federal Reserve and throwing money at the current economic problem.

On Friday George Dubya handed out pocket money to the US nation to the tune of about $145bn  with the proviso that they should get out and spend it, then yesterday, the Fed slashed interest rates by 3/4 of a per cent. Still the Dow Jones closed down 128 points.

It feels like the US markets are being treated like an overindulged only-child by a doting parent; a parent that should have waited until next week and dealt with the problem in a calm and rational manner that didn’t smack of giving in to a spoilt brat.

The message is that what the markets want, the markets will get - otherwise billions of pounds worth of toys will be thrown from the pram. I reckon all central bank governors should be made to watch several episodes of Super Nanny and make errant bodies go and sit on the naughty step until they've learned their lesson.