Heatwave...

London is in the midst of a heatwave.  I had a blissful afternoon swimming in a friend's pool in Dulwich with my son.  The pool is owned by the same people who own two of the local shops.  In their toy shop, paddling pool sales are up up up.  I bought one.  And two gigantic squirt guns.  And a watermelon.  And two new floaty dresses.  My wallet has been slimmed down and the economy will be thankful for all the hot weather.  Surely the FT will have an article on the consumer spending impact of the heatwave this Saturday.

Speaking of the FT, Willem Buiter has written another thoughtful article.  He proposes an "FDA for new financial instruments and institutions".  Read it here...