Slugger’s Daily Blogburst…

Kicking off, FT Alphaville notes Bloomberg is getting too too excited about the UK’s credit ratings

– And who is getting excited about marking down national sovereign funds: the credit rating companies which helped get us all into this mess in the first place

– And in December, Fergus was quietly putting his finger on a number of issues that show the banking culture between UK and Ireland was falling into the same lax practices…

– Cormac asks some genuinely Kicking the can down the road

Irish Blog Awards short list announced… The full list here on the Awards site; lot’s of new blog faces…

– Burke’s Corner on the emptiness of the rationalist view of the economy and enlightened self interest

Stephen’s quote of the day:

The proposed Anglo nationalisation marks a decisive watershed in Irish democracy. With it, an Irish government has coolly looked its citizens in the eye and said: “Sorry, but your priorities are not ours.”

– Gerard reckons the Left’s analysis of how we got into this mess is spot on… But the sickening reality is that the prescription for laying back upon the State will simply not be possible:

…the fundamental problem for the Left is that the State cannot afford their ambitions. The banking crisis has seen to that.

– Drudge has the Obama text… But Iain’s not buying it

Yet Clive Crook notes that this right of centre small government party has left a pretty hellish deficit of its own:

During his eight years in office – fat ones, for the most part, from a fiscal point of view – President George W. Bush moved the budget balance from surplus to structural deficit. Demographic and other pressures will worsen the position over the next decade or two. Now comes a fiscal expansion that will be only partly counter-cyclical: some of the new president’s spending will not reverse automatically as the economy recovers. A structural deficit of the sort taking shape is unsustainable and will be corrected one way or the other – if not by a timely change in policy, then by a new and potentially even worse financial calamity.

– Alan notes there is more than one switchover in the States today; analogue to digital…

– Calum with useless fact of the day: Hail to the Chief was written by Sir Walter Scott..

– Bernard has eight years of George Bush in eight minutes from the rarely breathless Keith Olbermann

– And Jim Murphy”s kicked off an as yet fairly civil war in Scotland over the partisan use of the Saltaire (Labour must just love fighting on that northern front [not])…

– Chekov on the proposal to cut departments (which is fine with him), but the greater need is for more accountability

– And Shuggy’s in typical pugnacious humour (spending too long listening to people witter on on t’Internet no doubt), when he observes that “People who use historical analogies are just like the Nazis