As each hour passes it becomes clearer why Eric Daniels has been fighting so hard all week to cling on to his black horse....

Hold the front page! The printing presses are rolling and will not stop any time soon. The Age of Quantitative Easing has begun in Britain, and true to our swashbuckling past, it’s the real thing. Fiddlesticks to purchasing assets by issuing gilt-edged bonds that add to the National Debt. That...