19 December 2011

It's Not Fair!

My seven year old was very upset the other day. My better half had just told her off for some minor misdemeanour. She was inconsolable and  the reason was not the telling off so much as that her older brother had done it first and not been seen.
It's not fair , he did it first and he didn't get into trouble!
It sort of reminds me of France reacting to the threat of a downgrade of its credit rating.

Update: I explained to my daughter that my son didn't get into trouble because he has his own currency which can devalue to stimulate net exports, that he has his own central bank which can act as a lender of last resort and that he only needs to refinance half as much of his debt each year.

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