I am intrigued by an Observer subheading this morning that says:
Everything seems set fair [for the Tories]. But Europe and a leadership contest could make next week look like halcyon days in years to come
The political content of the column does not worry me: any party that wins a geenral election has a triumphanmt conference afterwards. What concerns me is that the Observer has not noticed there is the possibility of an economnic downturn.
China is in trouble.
The emerging markets are facing the most enormous debt bubble.
Questions are being raised about the viability of the world's largest commodities trader.
A massive EU company (VW) faces extinction in the face of fraud, and may not be alone.
The Bank of England is suggesting buy-to-let is destabilising UK banks, and our economy in yet another credit bubble.
Around the world there is little investment and a massive savings glut whilst inequality is growing, rapidly.
And the Observer don't think any of that might derail the UK economy.
That's what's really staggering.
And the indifference to this threat is the biggest risk to the UK that there is.