It's another day of gloomy economic news. The FT has:
Crude fell to a seven-year low, close to levels hit during the financial crisis amid increased expectations of a persistent global oversupply.
The Guardian leads with the expectation (which I share) that inflation will rise next year, wiping out any real wages growth.
Whilst the FT has clear indication that employers will be fighting back against minimum wage rises next year, headlining:
Raising minimum wage will cost private-sector employers £1bn
In an economy worth £1.7 trillion that is not enough to change anything at a macro level but that it's causing such resistance is some indication of micro stress. It will be a recurring theme of 2016.
The need for an alternative economic narrative is growing.
There's a risk I will be spending my Christmas holiday on the theme: a new book may be coming sooner than expected.