Politically, this second global slowdown could not have come at a more difficult time. In the US, Democrats and Republicans will soon retreat to their corners to prepare for November's mid-term elections. Meanwhile, President Barack Obama must again persuade America's taxpayers that a new surge in government spending is needed to protect a fragile recovery -- and at a moment when voters are telling pollsters that America's debt is as great a threat as terrorism.
in FT.com
