U-turn away from the nationalisation and fiscal recklessness that began the Mitterrand presidency in 1981.

ECONOMIST: The French Socialist Party

But our current fiscal recklessness creates probably even worse short term vulnerabilities explored in my book that few are yet recognizing.

FORBES: The CBO's Ticking Bankruptcy Bomb

They still boast of their fiscal prudence as a contrast to Mr Bush's recklessness, but worry that fiscal discipline is a less effective rallying cry when, despite huge budget deficits, America's interest rates remain extraordinarily low.

ECONOMIST: The Democrats

Krugmanomics was a nonstarter because the gold standard encourages fiscal and monetary discipline, not recklessness.

FORBES: What Are Treasuries Really Saying? Nothing About Washington