PETER BRUCE: Now what’s the plan, Mr President?

Be careful what you wish for. RW Johnson, whose work I read just to practice writing and thinking, warned in a piece on Politicsweb last week that our fiscal collapse is imminent now, and welcomes the inevitability of it all.

“In fact, an [International Monetary Fund] bail-out will be a happy ending,” he writes. “It will bring down the curtain on a disastrous period of misgovernance and force proper structural reform to be undertaken at last.”